Firms in emerging markets fall to Covid-19
Djankov, Simeon
(2020)
Firms in emerging markets fall to Covid-19
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(2020)
Firms in emerging markets fall to Covid-19
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Economists associate the mass distress of firms during recessions with Joseph Schumpeter’s creative destruction theory, which says that during downturns small, less efficient, younger firms are the ones to exit the market. Their exit allows for more efficient firms to expand, lifting overall productivity.
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