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Does the countryside lack cash (funding)?: The impact of public bank loans on firm growth and its dependence on location
Jönköping University, Jönköping International Business School, JIBS, Economics. The Swedish Agency for Growth Policy Analysis and the Ratio Institute.ORCID iD: 0000-0002-9173-8347
Jönköping University, Jönköping International Business School, JIBS, Economics. Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership (CeFEO).ORCID iD: 0000-0001-5776-9396
2019 (English)Report (Other academic)
Abstract [en]

We investigate whether public policies that aim to reduce credit constraints for small and medium-sized enterprises (SMEs) have different impacts on firms located in different types of regions. Using loan data from the state-owned Swedish bank Almi and combining coarsened exact matching with difference-in-difference regressions, we find positive but heterogeneous effects of loans on firm growth. Firms in urban regions are found to be less credit-constrained compared to firms located in other regions. However, the impact from receiving a public loan on firm growth is stronger for SMEs residing in major cities compared to firms in other regions. These results have important implications, suggesting that an evaluation of policies that are targeted to reduce credit constraints should take firm location into account.

Place, publisher, year, edition, pages
Östersund: The Swedish Agency for Growth Policy Analysis , 2019. , p. 23
Series
Working paper ; 2019:01
Keywords [en]
Credit constraints, Public policy, State-owned banks, SMEs, CEM, Matching, Causal treatment effect evaluation, Regional policy
National Category
Economics
Identifiers
URN: urn:nbn:se:hj:diva-43335OAI: oai:DiVA.org:hj-43335DiVA, id: diva2:1295992
Available from: 2019-03-13 Created: 2019-03-13 Last updated: 2019-03-13Bibliographically approved

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Gustafsson, AndersStephan, Andreas

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CiteExportLink to record
Permanent link

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Citation style
  • apa
  • harvard1
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf