This paper investigates the role of digitalization in improving economic resilience. Using balance sheet data from 24,000 firms in 75 countries, and a difference-in-differences approach, we find that firms in industries that are more digitalized experience lower revenue losses following recessions. Early data since the outbreak of the COVID-19 pandemic suggest an even larger effect during the resulting recessions. These results are robust across a wide range of digitalization measures-such as ICT input and employment shares, robot usage, online sales, intangible assets and digital skills listed on online profiles-and several alternative specifications.
Copestake, A., Estefania-Flores, J., Furceri, D. (2024). Digitalization and resilience. RESEARCH POLICY, 53(3) [10.1016/j.respol.2023.104948].
Digitalization and resilience
Furceri, Davide
2024-04-01
Abstract
This paper investigates the role of digitalization in improving economic resilience. Using balance sheet data from 24,000 firms in 75 countries, and a difference-in-differences approach, we find that firms in industries that are more digitalized experience lower revenue losses following recessions. Early data since the outbreak of the COVID-19 pandemic suggest an even larger effect during the resulting recessions. These results are robust across a wide range of digitalization measures-such as ICT input and employment shares, robot usage, online sales, intangible assets and digital skills listed on online profiles-and several alternative specifications.File | Dimensione | Formato | |
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