COVID-19 wage subsidies and SME performance: evidence from Russia

Ruslan Kuchakov and Dmitriy Skougarevskiy

Applied Economics Letters, 2023, vol. 30, issue 6, 790-795

Abstract: We study the effects of COVID-19 wage subsidies offered to Russian SMEs. This programme disbursed over USD400m of monthly grants to cover wage bills to firms in COVID-affected industries under the condition of retaining employment in 2020. In a triple difference design we find no effects of such grants on survival, employment, or profitability of firms in the affected industries by early 2021.

Date: 2023
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DOI: 10.1080/13504851.2021.2020209

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