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Public Credit Guarantees and Access to Finance

Author

Listed:
  • Carlos Gozzi,

    (Department of Economics, University of Warwick)

  • Schmukler, Sergio

    (World Bank)

Abstract

This paper studies a famous unsolved puzzle in quantitative social science. Why do some nations report such high levels of mental well-being? Denmark, for instance, regularly tops the league table of rich countries’ happiness; Britain and the US enter further down; some nations do unexpectedly poorly. The explanation for the longobserved ranking -- one that holds after adjustment for GDP and other socioeconomic variables -- is currently unknown. Using data on 131 countries, the paper cautiously explores a new approach. It documents three forms of evidence consistent with the hypothesis that some nations may have a genetic advantage in well-being.

Suggested Citation

  • Carlos Gozzi, & Schmukler, Sergio, 2016. "Public Credit Guarantees and Access to Finance," The Warwick Economics Research Paper Series (TWERPS) 1122, University of Warwick, Department of Economics.
  • Handle: RePEc:wrk:warwec:1122
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    References listed on IDEAS

    as
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    Cited by:

    1. Grisé, Emily & Boisjoly, Geneviève & Maguire, Meadhbh & El-Geneidy, Ahmed, 2019. "Elevating access: Comparing accessibility to jobs by public transport for individuals with and without a physical disability," Transportation Research Part A: Policy and Practice, Elsevier, vol. 125(C), pages 280-293.
    2. Daniela PIRVU & Carmen Mihaela MOGOIU & Claudia STANCIU-TOLEA, 2017. "Taxation Of Personal Incomes In Romania: Present And Perspectives," Scientific Bulletin - Economic Sciences, University of Pitesti, vol. 16(1), pages 45-52.
    3. Yu-Lin Wang & Chien-Hui Lee & Po-Sheng Ko, 2020. "Do Loan Guarantees Alleviate Credit Rationing and Improve Economic Welfare?," Sustainability, MDPI, Open Access Journal, vol. 12(9), pages 1-16, May.
    4. Dang, Le Ngoc & Chuc, Anh Tu, 2019. "Challenges in Implementing the Credit Guarantee Scheme for Small and Medium-Sized Enterprises: The Case of Viet Nam," ADBI Working Papers 941, Asian Development Bank Institute.

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    More about this item

    Keywords

    credit guarantees; public guarantees; SME financing; access to finance; public risk absorption;
    All these keywords.

    JEL classification:

    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • H11 - Public Economics - - Structure and Scope of Government - - - Structure and Scope of Government
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance

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