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Financial Constraints and Investment: Assessing the Impact of a World Bank Loan Program on Small and Medium-Sized Enterprises in Sri Lanka Author info | Abstract | Publisher info | Download info | Related research | Statistics Varouj Aivazian
Dipak Mazumdar
Eric Santor
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The authors examine the investment behaviour of a sample of small, credit-constrained firms in Sri Lanka. Using a unique panel-data set, they analyze and compare the activities of two groups of small firms distinguished by their different access to financing; one group consists of firms with heavily subsidized loans from the World Bank, and the other consists of firms without such subsidies. The use of program-evaluation techniques reveals that the relaxation of financing constraints did not affect economic efficiency for the group of firms that received subsidized capital.
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Paper provided by Bank of Canada in its series Working Papers with number
03-37.
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Length: 56 pages
Date of creation: 2003Date of revision:
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Keywords: Find related papers by JEL classification: G00 - Financial Economics - - General - - - General
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