Support Policies for Small Businesses During the Covid-19 Crisis: Evidence from Club Convergence Clustering Approach

Chi Keung Lau, Dongna Zhang, Giray Gozgor*

*Corresponding author for this work

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This paper examines the small business net revenue club convergence clustering dynamics in 51 states in the United States during the first wave of the Covid-19 pandemic. Our analysis is based on the daily data from January 10, 2020, to June 8, 2020. The results indicate that there was only one club convergence for all states during the first wave of the Covid-19 pandemic. This evidence implies that the support policies enacted during the Covid-19 crisis for small and medium-sized enterprises were effective.
Original languageEnglish
Pages (from-to)401-416
Number of pages16
JournalEmerging Markets Finance and Trade
Issue number3
Early online date5 Jul 2023
Publication statusPublished - 19 Feb 2024

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