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Evaluation of State Lender Commitment Programs

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  • Gordon S. Hanson

    (University of Illinois at Chicago)

Abstract

States have been adopting a variety of economic intervention strategies intended to stimulate growth in the small business sector. This study uses an interrupted time-series analysis to test the hypothesis that growth in the small business establishment sector of a state's economy can be stimulated and sustained when lender commitment programs are in effect. These state-initiated loan packages are designed to extend the availability of capital to potential employment-generating enterprises by diffusing the risk among lenders and having the state assume a share of it. The findings provide only mixed support for this hypothesis. There is evidence that the programs do raise the level of economic activity in the short run, but a diminished rate of growth in small business establishments over time is also observed.

Suggested Citation

  • Gordon S. Hanson, 1993. "Evaluation of State Lender Commitment Programs," Economic Development Quarterly, , vol. 7(3), pages 255-266, August.
    • Handle: RePEc:sae:ecdequ:v:7:y:1993:i:3:p:255-266
    DOI: 10.1177/089124249300700304
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