New entrepreneurship failure and loss of employment: first evaluations on the effects of pandemic on the Italian production system

Abstract

The article deals with «New entrepreneurship failure and loss of employment: first evaluations on the effects of pandemic on the Italian productive system», placing the theme in the economic, social and territorial framework discussed by the authors. The COVID-19 pandemic is striking all the countries of the world by creating huge effects, causing economic recessions never seen since the Second World War, the result of a very special shock. In practice, we face the future having few anchor points useful to trace realistic scenarios, not knowing how and when we will return to a new “normality”. The actual cessations of enterprise did not show particular deviations, marking among other things a tendency reduction (-22.8%) in the bimestre March 2020. High levels of start-up installments produce positive, and persistent, macroeconomic effects (Gourio et al., 2016; Sedlácek and Sterk, 2017), pushing the real productivity and growth of the country (Sedlácek, 2019), also affecting the speed of post-crisis recovery (Clementi, Palazzo, 2016). An important impact of the company’s birth on the economy is that of the creation of employment, compared to which there are several studies on the last Great Recession (Sedlácek, 2019; Ayres, Raveendranathan, 2016; Gourio et al., 2014).

Keywords

labour market; COVID-19 pandemic; Public health; Italy; innovative enterprises; financial crisis

JEL codes

I18; J21; J64