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February 2021 21-P-006 Download / Links Download paper [PDF:954KB] 　　　　 Abstract Based on an original survey of Japanese firms, this study presents an overview of the characteristics of firms that used policy measures to mitigate the negative impacts of the COVID-19 pandemic, with an emphasis on the assessment of pre-pandemic productivity. According to the results, many firms are taking advantage of financial support programs, employment assistance subsidies, and subsidies to sustain businesses. The productivity of firms using these support measures was found to be lower than that of non-user firms prior to the pandemic, suggesting that low-productivity firms have been affected seriously by the crisis. The policy implication is that relief policies under the recent COVID-19 crisis should be temporary and such policies should be modified to enable the smooth reallocation of resources. This is the English version of the Japanese Discussion Paper (20-P-031) with some additional information and changes. Published: Morikawa, Masayuki, 2021. "Productivity of firms using relief policies during the COVID-19 crisis," Economics Letters, Volume 203, 109869.https://www.sciencedirect.com/science/article/pii/S0165176521001464 Research/Policy Papers Discussion Papers (English) Discussion Papers (Japanese) Policy Discussion Papers (English) Policy Discussion Papers (Japanese) Technical Papers (English) Technical Papers (Japanese) Non Technical Summaries List of Articles Published in Peer-reviewed Academic Journals Research Digest Links Discussion Papers Search Communications Newsletter RSS Feed Facebook X YouTube Research Areas Research Programs (FY2024-2028) Research Programs (FY2020-2023) Research Programs (FY2016-2019) Research Programs (FY2011-2015) Policy Research Domains (FY2006-2010) Projects Survey Fellows Research/Policy Papers Discussion Papers (English) Discussion Papers (Japanese) Policy Discussion Papers (English) Policy Discussion Papers (Japanese) Technical Papers (English) Technical Papers (Japanese) Non Technical Summaries List of Articles in Journals Research Digest Discussion Papers Search Publications RIETI Books (English) RIETI Books (Japanese) History of Japan's Trade and Industry Policy Authors' Words Other Publications (English) Other Publications (Japanese) Events Symposiums Workshops BBL Seminars Archived Seminar Series Data JIP Database R-JIP Database CIP Database Industry-Specific Nominal and Real Effective Exchange Rates AMU and AMU Deviation Indicators JSTAR RIETI-TID RIETI FDI Database ICPA Project Links Articles Column Special Series Newspapers & Magazines Fellows' Works VoxEU Column From IZA Perspectives from Around the World Other Contents RIETI Report Policy Update Keizai Sangyo Journal (METI Journal) About RIETI Privacy Policy Site Policy Site Map Help Contact METI Web Site Research Institute of Economy, Trade and Industry, IAA (JCN 6010005005426)JCN: Japan Corporate Number Opinions expressed or implied on this website are solely those of the author, and do not necessarily represent the views of the Research Institute of Economy, Trade and Industry (RIETI).Titles, numbers, specific names, etc. on this website are as of the date of publication. 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