Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/274705 
Year of Publication: 
2022
Citation: 
[Journal:] Journal of Risk and Financial Management [ISSN:] 1911-8074 [Volume:] 15 [Issue:] 4 [Article No.:] 183 [Year:] 2022 [Pages:] 1-10
Publisher: 
MDPI, Basel
Abstract: 
We present a new estimation of business opening and closure rates using data from Google Places-the data set behind the Google Maps service. Our algorithm, through a bisection routine, counts the appearance and disappearance of "pins" that represent unique businesses. As a proof of concept, we compute business opening and closure rates for the city of Ottawa during the reopening phase of the COVID-19 pandemic in mid-2021. The lifting of restrictions coincides with a wave of re-entry of temporarily closed businesses, suggesting that government support may have facilitated the survival of hibernating businesses. Our entry estimates are validated by a survey of new businesses. This methodology allows policymakers to monitor business dynamics in quasi-real-time during rapidly unfolding crises.
Subjects: 
business entry rate
business exit rate
Google Places
real-time
small and medium enterprises
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

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