Abstract
This study investigates how social distancing policy to curb the COVID-19 pandemic control affected the survival of stores in Korea. Using a Difference-in-Difference approach, we find that an increase in exit and a decrease in entry was more severe for stores in sectors and regions that faced stricter social distancing policy. In the district level analysis of Seoul, we find that high rent districts had a statistically significant drop in store entry while de facto mobility lessened a decrease in store exit. The results confirms that the vulnerability of stores and sectors is highly associated with social distancing and mobility.
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