Evaluating the Impact of Public Programs of Financial Aid to SMEs during times of crisis: The Spanish Experience
AbstractThe aim of this paper is to study the differential effects of the public programs that provide financial aid to small and medium enterprises during times of crisis in Spain. We use different methods to control for potential selection bias. Our results show that the effects of these programs are stronger during times of crisis: during normal periods, these programs impact assets, sales, efficiency, and productivity growth, whereas during recessions, their effects extend to employment growth.
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Bibliographic InfoPaper provided by Universidad Pablo de Olavide, Department of Financial Economics and Accounting (former Department of Business Administration) in its series Working Papers with number 12.04.
Length: 29 pages
Date of creation: Jun 2012
Date of revision:
public programs; impact evaluation; financial aid; SME; crisis; selection bias; average treatment effects;
This paper has been announced in the following NEP Reports:
- NEP-ALL-2012-08-23 (All new papers)
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