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Effectiveness of Public Loan Guarantees and Guarantee Banks: an Empirical Study for Mecklenburg-Vorpommern (Wirksamkeit von Landesbürgschaften und Bürgschaftsbanken: eine empirische Studie für Mecklenburg-Vorpommern)

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Author Info
Doris Neuberger () (University of Rostock)
Solvig Räthke (University of Rostock)

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Abstract

Public loan guarantees and guarantee banks are important instruments to reduce credit rationing due to information asymmetries, and thus to ease the financing of small and medium-sized enterprises. The present paper examines the effectiveness of these measures in the economically underdeveloped federal state of Mecklenburg-Vorpommern, based on a survey of assisted firms in 2007. We find positive effects on firm growth, employment and financing, which are likely to have a large leverage on the economic growth in this region.

(Staatliche Bürgschaften und Bürgschaftsbanken sind wichtige Instrumente, um Kreditrationierung aufgrund von Informationsasymmetrien zu reduzieren und somit die Finanzierung kleiner und mittelständischer Unternehmen zu erleichtern. Der vorliegende Beitrag untersucht die Wirksamkeit dieser Fördermaßnahmen in dem strukturschwachen Land Mecklenburg-Vorpommern auf der Grundlage einer Befragung geförderter Unternehmen aus dem Jahr 2007. Es zeigen sich positive Effekte auf Unternehmenswachstum, Beschäftigung und Finanzierung, von denen eine große Hebelwirkung auf das Wirtschaftswachstum in dieser Region zu erwarten ist.)

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File URL: http://www.wiwi.uni-rostock.de/fileadmin/Institute/VWL/VWL-Institut/RePEc/pdf/wp087thuenen.pdf
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File Function: First version, 2008
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Publisher Info
Paper provided by University of Rostock, Institute of Economics, Germany in its series Thuenen-Series of Applied Economic Theory with number 87.

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Length: 22 pages
Date of creation: 2008
Date of revision:
Handle: RePEc:ros:wpaper:87

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Related research
Keywords: financing of small and medium-sized enterprises; credit rationing; collateral; public loan guarantees; guarantee banks;

Find related papers by JEL classification:
G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Mortgages
G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
H81 - Public Economics - - Miscellaneous Issues - - - Governmental Loans and Credits

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Erik Lehmann & Doris Neuberger & Solvig R”thke, 2004. "Lending to Small and Medium-Sized Firms: Is There an East-West Gap in Germany?," Small Business Economics, Springer, vol. 23(1), pages 23-39, 08. [Downloadable!]
  2. Bester, Helmut, 1985. "Screening vs. Rationing in Credit Markets with Imperfect Information," American Economic Review, American Economic Association, vol. 75(4), pages 850-55, September. [Downloadable!] (restricted)
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