Research Insights: How Has the COVID-19 Pandemic Affected Micro, Small, and Medium Enterprises’ Use of Online Banking?
Peer Reviewed
Date issued
Aug 2023
Subject
Economy;
Pandemic;
Coronavirus;
Quarantine;
Lockdown;
Digital Transformation;
Small Business;
Digital Technology;
Social Distancing;
Industry
JEL code
H81 - Governmental Loans • Loan Guarantees • Credits • Grants • Bailouts;
I18 - Government Policy • Regulation • Public Health;
L25 - Firm Performance: Size, Diversification, and Scope;
O12 - Microeconomic Analyses of Economic Development
Category
Catalogs and Brochures
The COVID-19 pandemic has significantly accelerated the digitalization of micro, small, and medium Enterprises (MSMEs) in Latin America. The shift from in-person to online banking transactions has been both significant and permanent, becoming more important not only during the lockdowns but also after the economic recovery. This digital transformation has been observed across all industries, firm sizes, and geographical locations, indicating a broad-based response to the pandemics challenges.
