What Determines the Adaptation of Enterprises to COVID-19 in CAREC Member Countries: Empirical Evidence from Azerbaijan, Georgia, Kazakhstan, and Mongolia

Dastan Aseinov, Burulcha Sulaimanova, Kamalbek Karymshakov and Dina Azhgaliyeva
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Dastan Aseinov: Asian Development Bank Institute
Burulcha Sulaimanova: Asian Development Bank Institute
Kamalbek Karymshakov: Asian Development Bank Institute
Dina Azhgaliyeva: Asian Development Bank Institute

No 1299, ADBI Working Papers from Asian Development Bank Institute

Abstract: We investigate the factors affecting firms’ ability to adjust production in response to the COVID-19 outbreak. We used firm-level survey data from the enterprise survey implemented by the World Bank Group, including a standard enterprise survey (baseline) and two waves of follow-up surveys conducted in 2020 and 2021, which included questions related to COVID-19 and firm behavior during the pandemic. We used data from four CAREC member countries: Azerbaijan, Georgia, Kazakhstan, and Mongolia. Using a probit model, we studied how different factors, including firm characteristics and government policy, affected the probability that a firm would be able to adjust its activities to the changed conditions. The results showed that firms which successfully adapted to the COVID-19 crisis were younger, foreign firms that had been innovative in the recent past, with female managers, a formal firm strategy with key performance indicators, and their own website.

Keywords: COVID-19; micro; MSMEs; digitalization; adaptation; Central Asia; Caucasus (search for similar items in EconPapers)
JEL-codes: D22 J63 L25 O53 (search for similar items in EconPapers)
Pages: 22 pages
Date: 2022-01
New Economics Papers: this item is included in nep-cis and nep-tra
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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