Spanish SMEs´ subsidised and guaranteed credit during economic crisis : a regional perspective
Briozzo, Anahí Eugenia
Cardone-Riportella, Clara Laura
Palabras clavePublic policies; Subsidised credit; Guaranteed credit; Impact evaluation; Economic crisis; Regional policies.
EditorialRegional Studies Association
MetadatosMostrar el registro completo del ítem
The aim of this study is to analyse the effects of two Spanish public programmes that provide financial support to small and medium enterprises: a) subsidised credit by the Official Credit Institute and b) bank credit guaranteed by a mutual guarantee society. The study was conducted from a regional perspective and compares the effects of the two programmes during normal times with the effects during economic crisis. The results show that during stable (non-crisis) periods, these programmes affect the growth of assets, sales, and sales to assets ratio. However, during recession, the effects extend to include the growth of employment and sales-employee ratio. Moreover, there are significant regional differences in the impacts of the financial aid programmes.