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How COVID-19 has shaken the sharing economy? An analysis using Google trends data

Author

Listed:
  • Maryam Batool
  • Huma Ghulam
  • Muhammad Azmat Hayat
  • Muhammad Zahid Naeem
  • Abdullah Ejaz
  • Zulfiqar Ali Imran
  • Cristi Spulbar
  • Ramona Birau
  • Tiberiu Horațiu Gorun

Abstract

COVID-19 pandemic has disrupted the economies around the world and the economic fallout from preventive measures such as lockdown is enormous. It has massive repercussions for the sharing economy as well. This research paper empirically analyses the impact of lockdown restrictions on five major sectors of the sharing economy such as ride-hailing, accommodation, freelance work, entertainment and delivery services. To evaluate this impact, we employed the difference-in-difference estimation technique using the Google trends data for selected countries. Daily search data of 2019 and 2020 is reindexed to examine the change in search patterns that occurred after lockdown. The empirical results show that transportation and accommodation sectors are negatively impacted by COVID-19 related lockdown while the other sectors of the sharing economy such as freelance work, streaming services and online deliveries are seeing a surge in searches. The findings of this study provide vital insights into the economic disruptions caused by COVID-19 related lockdown. We have highlighted the sectors that are booming during pandemic thus the sharing economy platforms and government have opportunities to invest in these sectors to jump-start the economy. The recently unemployed gig workers can also be employed in these sectors to address the problem of unemployment.

Suggested Citation

  • Maryam Batool & Huma Ghulam & Muhammad Azmat Hayat & Muhammad Zahid Naeem & Abdullah Ejaz & Zulfiqar Ali Imran & Cristi Spulbar & Ramona Birau & Tiberiu Horațiu Gorun, 2021. "How COVID-19 has shaken the sharing economy? An analysis using Google trends data," Economic Research-Ekonomska Istraživanja, Taylor & Francis Journals, vol. 34(1), pages 2374-2386, January.
    • Handle: RePEc:taf:reroxx:v:34:y:2021:i:1:p:2374-2386
    DOI: 10.1080/1331677X.2020.1863830
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    Cited by:

    1. Percy Mkhosi & Ismail Fasanya, 2022. "Revisiting Interest Rate – Exchange Rate Dynamics in South Africa: How Relevant is Pandemic Uncertainties?," Scientific Annals of Economics and Business (continues Analele Stiintifice), Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, vol. 69(3), pages 435-457, September.
    2. Kerry Liu, 2023. "America's decoupling from China: A perspective from stock markets," Economic Affairs, Wiley Blackwell, vol. 43(1), pages 32-52, February.
    3. Usep Nugraha & Budy P. Resosudarmo & Rus’an Nasrudin, 2023. "Examining the impact of urban compactness on work and social life disruption during COVID-19 pandemic: evidence from Jakarta, Indonesia," Letters in Spatial and Resource Sciences, Springer, vol. 16(1), pages 1-26, December.

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