Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/238573 
Year of Publication: 
2021
Series/Report no.: 
ADBI Working Paper Series No. 1216
Publisher: 
Asian Development Bank Institute (ADBI), Tokyo
Abstract: 
The novel coronavirus disease, COVID-19, has brought significant change to people's lives and business activities nationally, regionally, and globally. The Philippines took swift action-including enhanced community quarantine (ECQ)-to contain the pandemic and launched an emergency subsidy program with massive public spending to support disrupted households and businesses. The strict lockdown ran from mid-March to the end of May 2020 in the national capital region and high-risk provinces, causing huge economic losses. Six months after the March lockdown, the Philippine economy has moved to the recovery stage, but micro, small, and medium-sized enterprises (MSMEs) are continuing to confront a sharp drop in demand and revenue. This paper examines the initial impact on MSMEs of the ECQ and lockdown measures using evidence obtained from a rapid nationwide survey conducted from the end of March to mid-April 2020 and derives policy implications.
Subjects: 
COVID-19
economic crisis
economic impact
MSMEs
SME development
access to finance
SME policy
Philippines
JEL: 
D22
G20
L20
L50
Creative Commons License: 
cc-by-nc-nd Logo
Document Type: 
Working Paper

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