The role of financial support in SME and economic development in Estonia

Jelena Hartsenko and Ako Sauga
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Jelena Hartsenko: The School of Economics and Business Administration, Tallinn University of Technology, Estonia
Ako Sauga: The School of Economics and Business Administration, Tallinn University of Technology, Estonia

Business and Economic Horizons (BEH), 2013, vol. 9, issue 2, 10-22

Abstract: This paper provides evidence on the links between efficiency and the governmental support for small-medium sized Estonian firms. The analysis is based on the Cobb-Douglas production function using micro level data. To analyse the impact of the financial support we applied a panel data framework. The estimation results confirm our main hypothesis that financial assistance increases productivity of Estonian SMEs, thus contributing the economic development.

Keywords: Subsidies; productivity (search for similar items in EconPapers)
JEL-codes: D24 H25 (search for similar items in EconPapers)
Date: 2013
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:pdc:jrnbeh:v:9:y:2013:i:2:p:10-22

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