COVID-19 challenges and firm responses: Analysis of a city-wide census in a developing country

Abstract

We use the unique data set of 16,300 firms' responses for the large-scale census survey in an urban area at Ho Chi Minh City (Vietnam) to study how firms perceived their problems and responded to during the COVID-19 pandemic. We provide estimates of 65 cross-associations between a firm's challenges during the pandemic and their responses. We find several firm characteristics that suggest increased likelihood of pandemic response, including some, such as state ownership, which are typically associated with being slow to respond to market conditions. A theoretical model is posited that matches with the rapidly declared survey response.