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Entrepreneurial Recovery from COVID-19: Decentralization, Democratization, Demand, Distribution, and Demography

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  • Naudé, Wim

Abstract

Entrepreneurship, as re ected in the start-up of new firms, the growth and market exit of existing firms, and the ow of venture capital, has been severely curtailed by the lockdown and social distancing measures taken by governments around the world in the fight against COVID-19. This paper, after documenting preliminary evidence on these declines, argues that there is a strong possibility that the unintended damage to entrepreneurship, innovation and growth could be persistent. This requires that short-term economic and business rescue packages be complimented by measures aimed at the longer-term, and that these be based on at least five principles. These 5 principles (5Ds) refer to decentralization, democratization, demand, distribution and demography.

Suggested Citation

  • Naudé, Wim, 2020. "Entrepreneurial Recovery from COVID-19: Decentralization, Democratization, Demand, Distribution, and Demography," GLO Discussion Paper Series 631, Global Labor Organization (GLO).
  • Handle: RePEc:zbw:glodps:631
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    Cited by:

    1. Naudé, Wim & Cameron, Martin, 2020. "Failing to Pull Together: South Africa's Troubled Response to COVID-19," IZA Discussion Papers 13649, Institute of Labor Economics (IZA).

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    More about this item

    Keywords

    Entrepreneurship; innovation; COVID-19; public policy; economic growth; development;
    All these keywords.

    JEL classification:

    • I18 - Health, Education, and Welfare - - Health - - - Government Policy; Regulation; Public Health
    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
    • L53 - Industrial Organization - - Regulation and Industrial Policy - - - Enterprise Policy
    • M13 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - New Firms; Startups

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