IDEAS home Printed from https://ideas.repec.org/p/bkr/wpaper/wps140.html

The Effect of Subsidized Lending Programs on the Economic Performance of Small and Medium-Sized Enterprises: Evidence from Russia

Author

Listed:
  • Evguenia Bessonova

    (Bank of Russia, HSE University, Russian Federation)

  • Svetlana Popova

    (Bank of Russia, Russian Federation)

  • Konstantin Styrin

    (Bank of Russia, NES, Russian Federation)

Abstract

We study the effect of the participation in a subsidized lending program on economic outcomes of small and medium-sized enterprises (SMEs) in Russia. The estimated effect on sales and employment is statistically and economically significant and robust. The annual growth of sales increases by 10.7-11.4 p.p. and of employment by 4-7 p.p. The effect on profits is sizeable but not robust, being very sensitive to the way the control sub-sample is constructed.

Suggested Citation

  • Evguenia Bessonova & Svetlana Popova & Konstantin Styrin, 2024. "The Effect of Subsidized Lending Programs on the Economic Performance of Small and Medium-Sized Enterprises: Evidence from Russia," Bank of Russia Working Paper Series wps140, Bank of Russia.
    • Handle: RePEc:bkr:wpaper:wps140
    as

    Download full text from publisher

    File URL: https://www.cbr.ru/StaticHtml/File/170478/wp_140.pdf
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    ;
    ;
    ;
    ;

    JEL classification:

    • D22 - Microeconomics - - Production and Organizations - - - Firm Behavior: Empirical Analysis
    • G38 - Financial Economics - - Corporate Finance and Governance - - - Government Policy and Regulation
    • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bkr:wpaper:wps140. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: BoR Research The email address of this maintainer does not seem to be valid anymore. Please ask BoR Research to update the entry or send us the correct address (email available below). General contact details of provider: https://edirc.repec.org/data/cbrgvru.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.