Effectiveness of Public Loan Guarantees and Guarantee Banks: an Empirical Study for Mecklenburg-Vorpommern (Wirksamkeit von Landesbürgschaften und Bürgschaftsbanken: eine empirische Studie für Mecklenburg-Vorpommern)

Doris Neuberger () and Räthke-Döppner, Solvig
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Räthke-Döppner, Solvig: University of Rostock
Authors registered in the RePEc Author Service: Solvig Raethke-Doeppner

No 87, Thuenen-Series of Applied Economic Theory from University of Rostock, Institute of Economics, Germany

Abstract: Public loan guarantees and guarantee banks are important instruments to reduce credit rationing due to information asymmetries, and thus to ease the financing of small and medium-sized enterprises. The present paper examines the effectiveness of these measures in the economically underdeveloped federal state of Mecklenburg-Vorpommern, based on a survey of assisted firms in 2007. We find positive effects on firm growth, employment and financing, which are likely to have a large leverage on the economic growth in this region.

(Staatliche Bürgschaften und Bürgschaftsbanken sind wichtige Instrumente, um Kreditrationierung aufgrund von Informationsasymmetrien zu reduzieren und somit die Finanzierung kleiner und mittelständischer Unternehmen zu erleichtern. Der vorliegende Beitrag untersucht die Wirksamkeit dieser Fördermaßnahmen in dem strukturschwachen Land Mecklenburg-Vorpommern auf der Grundlage einer Befragung geförderter Unternehmen aus dem Jahr 2007. Es zeigen sich positive Effekte auf Unternehmenswachstum, Beschäftigung und Finanzierung, von denen eine große Hebelwirkung auf das Wirtschaftswachstum in dieser Region zu erwarten ist.)

Keywords: financing of small and medium-sized enterprises; credit rationing; collateral; public loan guarantees; guarantee banks (search for similar items in EconPapers)
JEL-codes: G21 G28 H81 (search for similar items in EconPapers)
Date: Written
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