The Impacts of the COVID-19 Pandemic on Firms in the Caribbean
This paper provides new evidence on the impacts of the COVID-19 pandemic on Caribbean firms, a region hit hard by the health and economic crises, and where data is usually very scant. The analysis exploits data from the Innovation, Firm Performance, and Gender (IFPG) survey collected by the IDB Group through the Compete Caribbean Partnership Facility.
The sample includes 1,153 small, medium, and large enterprises distributed across seven Caribbean countries. Results show that small and medium-sized firms and women-owned/ led firms were more negatively impacted compared to other firms.
Moreover, firms that adopted measures to avoid supply chain disruptions fared better when compared to those that did not. Firm priorities have shifted because of the pandemic, with a much higher emphasis on access to digital payments and telecommunications.
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