Business in a Compressed Economy

Abstract

COVID-19 has led to the sharpest compression of economic activity in living memory (OECD, 2020). The recent roadmap published by Government gives clarity on when sectors may expect to be allowed re-open again, but ‘normal’ conditions will not return for some time. In this policy brief, I set out some early evidence on both the immediate impact of the Covid crisis on Irish business and the way it has impacted their long-term investment plans. From this, I discuss some relevant questions for regional development policy.