Evaluation of credit guarantee policy using propensity score matching
Author
Abstract
Suggested Citation
DOI: 10.1007/s11187-008-9102-5
Download full text from publisher
As the access to this document is restricted, you may want to search for a different version of it.
References listed on IDEAS
- Adam B. Jaffe, 2002. "Building Programme Evaluation into the Design of Public Research-Support Programmes," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 18(1), pages 22-34, Spring.
- David, Paul A. & Hall, Bronwyn H. & Toole, Andrew A., 2000.
"Is public R&D a complement or substitute for private R&D? A review of the econometric evidence,"
Research Policy, Elsevier, vol. 29(4-5), pages 497-529, April.
- Paul A. David & Bronwyn H. Hall & Andrew A. Toole, 1999. "Is Public R&D a Complement or Substitute for Private R&D? A Review of the Econometric Evidence," NBER Working Papers 7373, National Bureau of Economic Research, Inc.
- Paul A. David & Bronwyn H. Hall & Andrew A. Toole, 1999. "Is Public R&D a Complement or Substitute for Private R&D? A Review of the Econometric Evidence," Working Papers 99023, Stanford University, Department of Economics.
- David, Paul A. & Hall, Bronwyn H. & Toole, Andrew A., 1999. "Is Public R&D a Complement or Substitute for Private R&D? A Review of the Econometric Evidence," Department of Economics, Working Paper Series qt1sz6g8bv, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
- Paul A. David, Bronwyn H. Hall and Andrew A. Toole., 1999. "Is Public R&D a Complement or Substitute for Private R&D? A Review of the Econometric Evidence," Economics Working Papers E99-269, University of California at Berkeley.
- Paul A. David & Bronwyn H. Hall & Andrew A. Toole, 2000. "Is Public R&D a Complement or Substitute for Private R&D? A Review of the Econometric Evidence," Development and Comp Systems 9912002, University Library of Munich, Germany.
- Paul A. David & Bronwyn H. Hall & Andrew A. Toole, 2005. "Is Public R&D a Complement or Substitute for Private R&D? A Review of the Econometric Evidence," Development and Comp Systems 0502011, University Library of Munich, Germany.
- Gary Gregory & Charles Harvie & Hyun-Hoon Lee, 2002. "KOREAN SMEs IN THE 21-super-st CENTURY: STRATEGIES, CONSTRAINTS AND PERFORMANCE IN A GLOBAL ECONOMY," Economic Papers, The Economic Society of Australia, vol. 21(3), pages 64-79, September.
- Markus Frölich & Almas Heshmati & Michael Lechner, 2004.
"A microeconometric evaluation of rehabilitation of long-term sickness in Sweden,"
Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 19(3), pages 375-396.
- Frölich, Markus & Heshmati, Almas & Lechner, Michael, 2000. "A Microeconometric Evaluation of Rehabilitation of Long-term Sickness in Sweden," SSE/EFI Working Paper Series in Economics and Finance 373, Stockholm School of Economics, revised 07 Jun 2000.
- James J. Heckman & Hidehiko Ichimura & Petra E. Todd, 1997. "Matching As An Econometric Evaluation Estimator: Evidence from Evaluating a Job Training Programme," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 64(4), pages 605-654.
- Richard Blundell & Monica Costa Dias, 2000. "Evaluation methods for non-experimental data," Fiscal Studies, Institute for Fiscal Studies, vol. 21(4), pages 427-468, January.
- Inha Oh & Almas Heshmati & Chulwoo Baek & Jeong‐Dong Lee, 2009.
"Comparative Analysis Of Plant Dynamics By Size: Korean Manufacturing,"
The Japanese Economic Review, Japanese Economic Association, vol. 60(4), pages 512-538, December.
- Oh, Inha & Heshmati, Almas & Baek, Chulwoo & Lee, Jeong-Dong, 2006. "Comparative Analysis of Firm Dynamics by Size: Korean Manufacturing," Ratio Working Papers 94, The Ratio Institute.
- Evans, David S & Jovanovic, Boyan, 1989. "An Estimated Model of Entrepreneurial Choice under Liquidity Constraints," Journal of Political Economy, University of Chicago Press, vol. 97(4), pages 808-827, August.
- Nigel Meager & Peter Bates & Marc Cowling, 2003.
"An Evaluation of Business Start-Up Support for Young People,"
National Institute Economic Review, National Institute of Economic and Social Research, vol. 186(1), pages 59-72, October.
- Meager, Nigel & Bates, Peter & Cowling, Marc, 2003. "An Evaluation of Business Start-Up Support for Young People," National Institute Economic Review, National Institute of Economic and Social Research, vol. 186, pages 59-72, October.
- Markus Frlich, 2004. "Finite-Sample Properties of Propensity-Score Matching and Weighting Estimators," The Review of Economics and Statistics, MIT Press, vol. 86(1), pages 77-90, February.
- Borensztein, Eduardo & Lee, Jong-Wha, 2002.
"Financial crisis and credit crunch in Korea: evidence from firm-level data,"
Journal of Monetary Economics, Elsevier, vol. 49(4), pages 853-875, May.
- Jong-Wha Lee & Mr. Eduardo Borensztein, 2000. "Financial Crisis and Credit Crunch in Korea: Evidence From Firm-Level Data," IMF Working Papers 2000/025, International Monetary Fund.
- Joon-Kyung Kim & Chung H. Lee, 2002. "Insolvency in the Corporate Sector and Financial Crisis in Korea," Journal of the Asia Pacific Economy, Taylor & Francis Journals, vol. 7(2), pages 267-281.
- Cressy, Robert, 1996. "Are Business Startups Debt-Rationed?," Economic Journal, Royal Economic Society, vol. 106(438), pages 1253-1270, September.
- Marco Caliendo, 2006. "Microeconometric Evaluation of Labour Market Policies," Lecture Notes in Economics and Mathematical Systems, Springer, number 978-3-540-28708-7, October.
- Kang, Jae-Won & Heshmati, Almas & Choi, Gyong-Gyu, 2006. "The Effect of Credit Guarantees on Survival and Performance of SMEs in Korea," Ratio Working Papers 92, The Ratio Institute.
- 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.
- Jens Matthias Arnold & Katrin Hussinger, 2005.
"Export Behavior and Firm Productivity in German Manufacturing: A Firm-Level Analysis,"
Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 141(2), pages 219-243, July.
- Jens Matthias Arnold & Katrin Hussinger, 2003. "Export Behavior and Firm productivity in German Manufacturing. A Firm-Level Analysis," Development Working Papers 184, Centro Studi Luca d'Agliano, University of Milano.
- Arnold, Jens Matthias & Hussinger, Katrin, 2004. "Export Behavior and Firm Productivity in German Manufacturing: A Firm-level Analysis," ZEW Discussion Papers 04-12, ZEW - Leibniz Centre for European Economic Research.
- Jens Matthias Arnold & Katrin Hussinger, 2004. "Export Behavior and Firm Productivity in German Manufacturing: A firm-level analysis," International Trade 0403007, University Library of Munich, Germany, revised 02 Nov 2004.
- Takeo Hoshi, 2006. "Economics Of The Living Dead," The Japanese Economic Review, Japanese Economic Association, vol. 57(1), pages 30-49, March.
- Josh Lerner, 2002. "When Bureaucrats Meet Entrepreneurs: The Design of Effective "Public Venture Capital" Programmes," Economic Journal, Royal Economic Society, vol. 112(477), pages 73-84, February.
- Bester, Helmut, 1985. "Screening vs. Rationing in Credit Markets with Imperfect Information," American Economic Review, American Economic Association, vol. 75(4), pages 850-855, September.
- Rajeev H. Dehejia & Sadek Wahba, 2002.
"Propensity Score-Matching Methods For Nonexperimental Causal Studies,"
The Review of Economics and Statistics, MIT Press, vol. 84(1), pages 151-161, February.
- Rajeev H. Dehejia & Sadek Wahba, 1998. "Propensity Score Matching Methods for Non-experimental Causal Studies," NBER Working Papers 6829, National Bureau of Economic Research, Inc.
- 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.
- Robert Cressy & Otto Toivanen, 2001. "Is there adverse selection in the credit market?," Venture Capital, Taylor & Francis Journals, vol. 3(3), pages 215-238, July.
- Sherry L. Kiser & Jahyeong Koo, 2001. "Recovery from a financial crisis: the case of South Korea," Economic and Financial Policy Review, Federal Reserve Bank of Dallas, issue Q IV, pages 24-36.
- Gregory, Gary & Harvie, Charles & Lee, Hyun-Hoon, 2002. "Korean SMEs in the Wake of the Financial Crisis: Strategies, Constraints and Performance in a Global Economy," Economics Working Papers wp02-12, School of Economics, University of Wollongong, NSW, Australia.
- Dehejia, Rajeev, 2005. "Practical propensity score matching: a reply to Smith and Todd," Journal of Econometrics, Elsevier, vol. 125(1-2), pages 355-364.
- Cowling, Marc & Mitchell, Peter, 1997. "The Evolution of U.K. Self-Employment: A Study of Government Policy and the Role of the Macroeconomy," The Manchester School of Economic & Social Studies, University of Manchester, vol. 65(4), pages 427-442, September.
- Becchetti, Leonardo & Trovato, Giovanni, 2002. "The Determinants of Growth for Small and Medium Sized Firms: The Role of the Availability of External Finance," Small Business Economics, Springer, vol. 19(4), pages 291-306, December.
- Yasar, Mahmut & Rejesus, Roderick M., 2005. "Exporting status and firm performance: Evidence from a matched sample," Economics Letters, Elsevier, vol. 88(3), pages 397-402, September.
- Alberto Abadie & Guido W. Imbens, 2006. "Large Sample Properties of Matching Estimators for Average Treatment Effects," Econometrica, Econometric Society, vol. 74(1), pages 235-267, January.
- Aw, Bee Yan & Chen, Xiaomin & Roberts, Mark J., 2001. "Firm-level evidence on productivity differentials and turnover in Taiwanese manufacturing," Journal of Development Economics, Elsevier, vol. 66(1), pages 51-86, October.
- Sascha O. Becker & Andrea Ichino, 2002. "Estimation of average treatment effects based on propensity scores," Stata Journal, StataCorp LP, vol. 2(4), pages 358-377, November.
- Robert E. Carpenter & Bruce C. Petersen, 2002. "Capital Market Imperfections, High-Tech Investment, and New Equity Financing," Economic Journal, Royal Economic Society, vol. 112(477), pages 54-72, February.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Castillo, Leopoldo Laborda & Guasch, Jose Luis, 2012. "Overdraft facility policy and firm performance : an empirical analysis in eastern European Union industrial firms," Policy Research Working Paper Series 6101, The World Bank.
- Inha Oh & Almas Heshmati & Chulwoo Baek & Jeong‐Dong Lee, 2009.
"Comparative Analysis Of Plant Dynamics By Size: Korean Manufacturing,"
The Japanese Economic Review, Japanese Economic Association, vol. 60(4), pages 512-538, December.
- Oh, Inha & Heshmati, Almas & Baek, Chulwoo & Lee, Jeong-Dong, 2006. "Comparative Analysis of Firm Dynamics by Size: Korean Manufacturing," Ratio Working Papers 94, The Ratio Institute.
- Carlos A. Flores & Oscar A. Mitnik, 2009.
"Evaluating Nonexperimental Estimators for Multiple Treatments: Evidence from Experimental Data,"
Working Papers
2010-10, University of Miami, Department of Economics.
- Carlos A. Flores & Oscar A. Mitnik, 2009. "Evaluating Nonexperimental Estimators for Multiple Treatments: Evidence from Experimental Data," Working Papers 2010-9, University of Miami, Department of Economics.
- Flores, Carlos A. & Mitnik, Oscar A., 2009. "Evaluating Nonexperimental Estimators for Multiple Treatments: Evidence from Experimental Data," IZA Discussion Papers 4451, Institute of Labor Economics (IZA).
- Guido W. Imbens & Jeffrey M. Wooldridge, 2009.
"Recent Developments in the Econometrics of Program Evaluation,"
Journal of Economic Literature, American Economic Association, vol. 47(1), pages 5-86, March.
- Guido M. Imbens & Jeffrey M. Wooldridge, 2008. "Recent Developments in the Econometrics of Program Evaluation," NBER Working Papers 14251, National Bureau of Economic Research, Inc.
- Wooldridge, Jeffrey M. & Imbens, Guido, 2009. "Recent Developments in the Econometrics of Program Evaluation," Scholarly Articles 3043416, Harvard University Department of Economics.
- Guido Imbens & Jeffrey M. Wooldridge, 2008. "Recent developments in the econometrics of program evaluation," CeMMAP working papers CWP24/08, Centre for Microdata Methods and Practice, Institute for Fiscal Studies.
- Imbens, Guido W. & Wooldridge, Jeffrey M., 2008. "Recent Developments in the Econometrics of Program Evaluation," IZA Discussion Papers 3640, Institute of Labor Economics (IZA).
- Gustavo Canavire-Bacarreza & Luis Castro Peñarrieta & Darwin Ugarte Ontiveros, 2021.
"Outliers in Semi-Parametric Estimation of Treatment Effects,"
Econometrics, MDPI, vol. 9(2), pages 1-32, April.
- Darwin Ugarte Ontiveros & Gustavo Canavire-Bacarreza & Luis Castro Peñarrieta, 2017. "Outliers in semi-parametric Estimation of Treatment Effects," Development Research Working Paper Series 06/2017, Institute for Advanced Development Studies.
- Darwin Ugarte Ontiveros & Gustavo Canavire-Bacarreza & Luis Castro Peñarrieta, 2017. "Outliers in semi-parametric Estimation of Treatment Effects," Documentos de Trabajo de Valor Público 15810, Universidad EAFIT.
- 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.
- David de Meza, 2002. "Overlending?," Economic Journal, Royal Economic Society, vol. 112(477), pages 17-31, February.
- Matthias Arnold, Jens & Javorcik, Beata S., 2009.
"Gifted kids or pushy parents? Foreign direct investment and plant productivity in Indonesia,"
Journal of International Economics, Elsevier, vol. 79(1), pages 42-53, September.
- Beata Javorcik & Jens Matthias Arnold, 2009. "Gifted Kids or Pushy Parents? Foreign Direct Investment and Plant Productivity in Indonesia," Economics Series Working Papers 434, University of Oxford, Department of Economics.
- Valérie Revest & Alessandro Sapio, 2012.
"Financing technology-based small firms in Europe: what do we know?,"
Small Business Economics, Springer, vol. 39(1), pages 179-205, July.
- Valérie Revest & Alessandro Sapio, 2012. "Financing technology-based small firms in Europe: what do we know?," Post-Print halshs-00606802, HAL.
- Dirk Czarnitzki & Julie Delanote, 2015.
"R&D policies for young SMEs: input and output effects,"
Small Business Economics, Springer, vol. 45(3), pages 465-485, October.
- Czarnitzki, Dirk & Delanote, Julie, 2015. "R&D policies for young SMEs: Input and output effects," ZEW Discussion Papers 15-032, ZEW - Leibniz Centre for European Economic Research.
- Dirk Czarnitzki & Julie Delanote, 2015. "R&D policies for young SMEs: input and output effects," Working Papers of Department of Management, Strategy and Innovation, Leuven 496828, KU Leuven, Faculty of Economics and Business (FEB), Department of Management, Strategy and Innovation, Leuven.
- Dirk Czarnitzki & Julie Delanote, 2015. "R&D policies for young SMEs: input and output effects," Working Papers of ECOOM - Centre for Research and Development Monitoring 496828, KU Leuven, Faculty of Economics and Business (FEB), ECOOM - Centre for Research and Development Monitoring.
- Luca Grilli & Samuele Murtinu, 2011. "Econometric Evaluation of Public Policies for Science and Innovation: A Brief Guide to Practice," Chapters, in: Massimo G. Colombo & Luca Grilli & Lucia Piscitello & Cristina Rossi-Lamastra (ed.), Science and Innovation Policy for the New Knowledge Economy, chapter 3, Edward Elgar Publishing.
- Marco Caliendo & Sabine Kopeinig, 2008.
"Some Practical Guidance For The Implementation Of Propensity Score Matching,"
Journal of Economic Surveys, Wiley Blackwell, vol. 22(1), pages 31-72, February.
- Marco Caliendo & Sabine Kopeinig, 2005. "Some Practical Guidance for the Implementation of Propensity Score Matching," Discussion Papers of DIW Berlin 485, DIW Berlin, German Institute for Economic Research.
- Caliendo, Marco & Kopeinig, Sabine, 2005. "Some Practical Guidance for the Implementation of Propensity Score Matching," IZA Discussion Papers 1588, Institute of Labor Economics (IZA).
- Giuseppe PORRO & Stefano Maria IACUS, 2004. "Average treatment effect estimation via random recursive partitioning," Departmental Working Papers 2004-28, Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano.
- Steven Lehrer & Gregory Kordas, 2013.
"Matching using semiparametric propensity scores,"
Empirical Economics, Springer, vol. 44(1), pages 13-45, February.
- Steven Lehrer & Gregory Kordas, 2004. "Matching using Semiparametric Propensity Scores," Econometric Society 2004 North American Summer Meetings 441, Econometric Society.
- Liu, Xiaolu & Li, Xiaoyu & Li, Honglin, 2016. "R&D subsidies and business R&D: Evidence from high-tech manufacturing firms in Jiangsu," China Economic Review, Elsevier, vol. 41(C), pages 1-22.
- Islam, Abu Hayat, 2015. "Can Integrated Rice-Fish System Increase Welfare of the Marginalized Extreme Poor in Bangladesh? A DID Matching Approach," 2015 Conference, August 9-14, 2015, Milan, Italy 211792, International Association of Agricultural Economists.
- Ayala, Luis & Rodríguez, Magdalena, 2013. "Health-related effects of welfare-to-work policies," Social Science & Medicine, Elsevier, vol. 93(C), pages 103-112.
- Roberto Gabriele & Anna Giunta, 2012. "R&D Incentives: The Effectiveness Of A Place-Based Policy," Departmental Working Papers of Economics - University 'Roma Tre' 0169, Department of Economics - University Roma Tre.
- Roberto Gabriele & Marco Zamarian & Enrico Zaninotto, 2006. "Assessing the economic impact of public industrial policies: an empirical investigation on subsidies," ROCK Working Papers 039, Department of Computer and Management Sciences, University of Trento, Italy, revised 12 Jun 2008.
- Hottenrott, Hanna & Richstein, Robert, 2020.
"Start-up subsidies: Does the policy instrument matter?,"
Research Policy, Elsevier, vol. 49(1).
- Hanna Hottenrott & Robert Richstein, 2019. "Start-up Subsidies: Does the Policy Instrument Matter?," SPRU Working Paper Series 2019-23, SPRU - Science Policy Research Unit, University of Sussex Business School.
More about this item
Keywords
Credit guarantee; Selection bias; Propensity score matching; SME; C40; H43; H81; L25; L26; L53;All these keywords.
JEL classification:
- C40 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - General
- H43 - Public Economics - - Publicly Provided Goods - - - Project Evaluation; Social Discount Rate
- H81 - Public Economics - - Miscellaneous Issues - - - Governmental Loans; Loan Guarantees; Credits; Grants; Bailouts
- L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance
- L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
- L53 - Industrial Organization - - Regulation and Industrial Policy - - - Enterprise Policy
Statistics
Access and download statisticsCorrections
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:kap:sbusec:v:33:y:2009:i:3:p:335-351. 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.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with 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: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.