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Credit market failure intervention: Do government sponsored small business credit programs enrich poorer areas?

Author

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  • Ben Craig
  • William Jackson

    ()

  • James Thomson

Abstract

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Suggested Citation

  • Ben Craig & William Jackson & James Thomson, 2008. "Credit market failure intervention: Do government sponsored small business credit programs enrich poorer areas?," Small Business Economics, Springer, vol. 30(4), pages 345-360, April.
    • Handle: RePEc:kap:sbusec:v:30:y:2008:i:4:p:345-360
    DOI: 10.1007/s11187-007-9050-5
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    References listed on IDEAS

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    1. Robert G. King & Ross Levine, 1993. "Finance and Growth: Schumpeter Might Be Right," The Quarterly Journal of Economics, Oxford University Press, vol. 108(3), pages 717-737.
    2. Ben R. Craig & William E. Jackson & James B. Thomson, 2005. "SBA guaranteed lending and local economic growth," FRB Atlanta Working Paper 2005-28, Federal Reserve Bank of Atlanta.
    3. Ross Levine, 1997. "Financial Development and Economic Growth: Views and Agenda," Journal of Economic Literature, American Economic Association, vol. 35(2), pages 688-726, June.
    4. Rajan, Raghuram G & Zingales, Luigi, 1998. "Financial Dependence and Growth," American Economic Review, American Economic Association, vol. 88(3), pages 559-586, June.
    5. Walker F. Todd, 1992. "History of and rationales for the Reconstruction Finance Corporation," Economic Review, Federal Reserve Bank of Cleveland, issue Q IV, pages 22-35.
    6. Mitchell A. Petersen & Raghuram G. Rajan, 1995. "The Effect of Credit Market Competition on Lending Relationships," The Quarterly Journal of Economics, Oxford University Press, vol. 110(2), pages 407-443.
    7. Shaffer, Sherrill, 2004. "Patterns of competition in banking," Journal of Economics and Business, Elsevier, vol. 56(4), pages 287-313.
    8. Jackson, William E, III, 1992. "Is the Market Well Defined in Bank Merger and Acquisition Analysis?," The Review of Economics and Statistics, MIT Press, vol. 74(4), pages 655-661, November.
    9. Stiglitz, Joseph E & Weiss, Andrew, 1981. "Credit Rationing in Markets with Imperfect Information," American Economic Review, American Economic Association, vol. 71(3), pages 393-410, June.
    10. Ben R. Craig & William E. Jackson & James B. Thomson, 2004. "On SBA-guaranteed lending and economic growth," Working Paper 0403, Federal Reserve Bank of Cleveland.
    11. Luigi Guiso & Paola Sapienza & Luigi Zingales, 2004. "Does Local Financial Development Matter?," The Quarterly Journal of Economics, Oxford University Press, vol. 119(3), pages 929-969.
    12. Cowling, Marc & Mitchell, Peter, 2003. "Is the Small Firms Loan Guarantee Scheme Hazardous for Banks or Helpful to Small Business?," Small Business Economics, Springer, vol. 21(1), pages 63-71, August.
    13. Calem, Paul S & Carlino, Gerald A, 1991. "The Concentration/Conduct Relationship in Bank Deposit Markets," The Review of Economics and Statistics, MIT Press, vol. 73(2), pages 268-276, May.
    14. Massimo Colombo & Luca Grilli, 2007. "Funding Gaps? Access To Bank Loans By High-Tech Start-Ups," Small Business Economics, Springer, vol. 29(1), pages 25-46, June.
    15. Sherrill Shaffer, 2006. "Establishment Size by Sector and County-Level Economic Growth," Small Business Economics, Springer, vol. 26(2), pages 145-154, March.
    16. Petersen, Mitchell A & Rajan, Raghuram G, 1994. " The Benefits of Lending Relationships: Evidence from Small Business Data," Journal of Finance, American Finance Association, vol. 49(1), pages 3-37, March.
    17. Sherrill Shaffer, 1994. "Bank competition in concentrated markets," Business Review, Federal Reserve Bank of Philadelphia, issue Mar, pages 3-16.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. repec:eee:tefoso:v:127:y:2018:i:c:p:166-176 is not listed on IDEAS
    2. Andrew T. Young & Matthew J. Higgins & Donald J. Lacombe & Briana Sell, 2014. "The Direct and Indirect Effects of Small Business Administration Lending on Growth: Evidence from U.S. County-Level Data," Working Papers 14-35, Department of Economics, West Virginia University.
    3. Renaud Bourlès & Anastasia Cozarenco, 2014. "State intervention and the microcredit market: the role of business development services," Small Business Economics, Springer, vol. 43(4), pages 931-944, December.
    4. repec:kap:sbusec:v:49:y:2017:i:4:d:10.1007_s11187-017-9859-5 is not listed on IDEAS
    5. Cowan, Kevin & Drexler, Alejandro & Yañez, Álvaro, 2015. "The effect of credit guarantees on credit availability and delinquency rates," Journal of Banking & Finance, Elsevier, vol. 59(C), pages 98-110.
    6. Kapinos, Pavel & Gurley-Calvez, Tami & Kapinos, Kandice, 2016. "(Un)expected housing price changes: Identifying the drivers of small business finance," Journal of Economics and Business, Elsevier, vol. 84(C), pages 79-94.
    7. repec:pab:wpbsad:12.08 is not listed on IDEAS
    8. Anahí Briozzo & Clara Cardone-Riportella, 2012. "Evaluating the Impact of Public Programs of Financial Aid to SMEs during times of crisis: The Spanish Experience," Working Papers 12.04, Universidad Pablo de Olavide, Department of Financial Economics and Accounting (former Department of Business Administration).
    9. repec:kap:sbusec:v:49:y:2017:i:2:d:10.1007_s11187-017-9845-y is not listed on IDEAS
    10. repec:bla:coecpo:v:35:y:2017:i:3:p:578-595 is not listed on IDEAS
    11. Ben R. Craig & William E. Jackson, III & James B. Thomson, 2007. "Does government intervention in the small-firm credit market help economic performance?," Policy Discussion Papers, Federal Reserve Bank of Cleveland, issue Aug.
    12. repec:spr:anresc:v:59:y:2017:i:1:d:10.1007_s00168-017-0814-9 is not listed on IDEAS
    13. Guido de Blasio & Stefania De Mitri & Alessio D'Ignazio & Paolo Finaldi Russo & Lavina Stoppani, 2017. "Public guarantees on loans to SMEs: an RDD evaluation," Temi di discussione (Economic working papers) 1111, Bank of Italy, Economic Research and International Relations Area.
    14. Hennecke, Peter & Neuberger, Doris & Ulbricht, Dirk, 2017. "The economic and fiscal value of German guarantee banks," Thuenen-Series of Applied Economic Theory 152, University of Rostock, Institute of Economics.

    More about this item

    Keywords

    Low-income areas; Employment rates; Small business; Credit markets; Loan guarantees; Credit rationing; G38; H81; O16; L26;

    JEL classification:

    • G38 - Financial Economics - - Corporate Finance and Governance - - - Government Policy and Regulation
    • H81 - Public Economics - - Miscellaneous Issues - - - Governmental Loans; Loan Guarantees; Credits; Grants; Bailouts
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship

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