It is worth reminding ourselves of what the International Growth Panel, led by Prof. Ricardo Hausmann, suggested to us back in 2006.
In this regard, the results of the Annual Survey of Corporate Behavior show that listed firms' growth expectations do not seem to have decreased remarkably even after experiencing a significant negative shock to economic activity brought about by COVID-19.6 Such steady expectations at present are clearly different from those at the time of the Global Financial Crisis (GFC), when they decreased considerably.