Europe and Central Asia Economic Update



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COVID-19: In it for the Long Haul?

After nearly two years since COVID-19 first gripped the world, the ongoing pandemic continues to shape the path for the global economy. Although a cyclical recovery has been underway in many economies since the initial collapse in activity in 2020Q2, the pace of the recovery is not envisioned to be sufficient to return global output to its pre-pandemic projection by 2022. Moreover, the strength of the recovery continues to diverge.

Competition and Firm Recovery Post-COVID-19

This chapter is focused on how did COVID-19 affect firms’ growth, employment and technological adaptation. It highlights multiple aspects, such as the pandemic impact by firm characteristics such as size, age, sector, or gender of top manager. It answers such questions as: Is there any evidence of creative destruction so far, with resources allocated to firms that are more productive? Did firms in countries with a stronger pre-COVID-19 competition environment see more or less creative destruction? What forms of government support did firms receive to help them weather the pandemic? Which firms received government support, and what are the implications for competition and recovery?


Country Profiles


Albania: desktop | mobile Montenegro: desktop | mobile
Armenia: desktop | mobile North Macedonia: desktop | mobile
Azerbaijan: desktop | mobile Poland: desktop | mobile
Belarus: desktop | mobile Romania: desktop | mobile
Bosnia and Herzegovina: desktop | mobile Russian Federation: desktop | mobile
Bulgaria: desktop | mobile Serbia: desktop | mobile
Croatia: desktop | mobile Tajikistan: desktop | mobile
Georgia: desktop | mobile Turkey: desktop | mobile
Kazakhstan: desktop | mobile Ukraine: desktop | mobile
Kosovo: desktop | mobile Uzbekistan: desktop | mobile
Kyrgyz Republic: desktop | mobile  
Moldova: desktop | mobile  

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