Cash transfer programs continue to be implemented and expanded by governments and non-government organizations in many low-income countries as a tool for poverty alleviation. When implemented at scale, such programs may have important short- and long-run implications for firms. However, there are relatively few opportunities to study how an economy responds to an exogenous shock of such a magnitude, and the response of the private sector is critical in determining how these types of shocks will propagate through the economy.
