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Title: Small Firms and the Pandemic: Evidence From Latin America
Authors: Neilson, Christopher
Guerrero, Maria Elena
Humphries, John Eric
Shimberg, Naomi
Ulyssea, Gabriel
Keywords: COVID-19
small business
Latin America
Issue Date: Oct-2021
Series/Report no.: 651
Abstract: This paper studies the effects of the COVID-19 pandemic on small businesses between March and November 2020 using new survey data on 35,000 small businesses in eight Latin American countries. We document that the pandemic had large negative impacts on employment and beliefs regarding the future, which in turn predict meaningful economic outcomes in the medium-term. Despite the unprecedented amount of aid, policies had limited impact for small and informal firms. These firms were less aware of programs, applied less, and received less assistance. This may have lasting consequences, as businesses that received aid reported better outcomes and expectations about the future.
Appears in Collections:IRS Working Papers

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