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Rural Economic Performance And Federal Credit Programs

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  • Sherrill Shaffer

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  • Robert N. Collender

Abstract

Several theories of externalities and asymmetric information suggest a positive role for government programs to assist credit markets, though potential distortions by special interests carry attendant dangers. We examine the empirical association between funding by several federal government programs and subsequent economic performance, measured six ways, for nonmetropolitan U.S. counties during the 1990s. Significant differences are found across programs, performance measures, and market types. Observed tradeoffs suggest a need to compare policy objectives with acceptable costs in many cases. Overall, the results are consistent with theoretical predictions and with some standard policy objectives.

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File URL: http://cbe.anu.edu.au/research/papers/camawpapers/Papers/2008/Shaffer_Collender_262008.pdf
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Bibliographic Info

Paper provided by Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University in its series CAMA Working Papers with number 2008-26.

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Length: 42 pages
Date of creation: Aug 2008
Date of revision:
Handle: RePEc:een:camaaa:2008-26

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