The Impact of Government-Backed Financing Guarantee Programs on Employment in SMEs: Evidence from China

Shihao Chen (), Guangwei Liu () and Mingxin Zhang ()
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Shihao Chen: Zhejiang Gongshang University, School of Finance
Guangwei Liu: Shanghai Lida University, School of Digital Science
Mingxin Zhang: Zhejiang Gongshang University, Tailong Finance School

A chapter in Proceedings of the SSEME Workshop on Economics and Management (SSEME-EM 2024), 2024, pp 63-71 from Springer

Abstract: Abstract The study investigates the effect of Government-Backed Financing Guarantees (GFGs) on employment within small and medium-sized enterprises (SMEs), drawing on data from the Zhejiang Guarantee Group and non-publicly traded SMEs in China. Results indicate a substantial positive impact of GFG programs on SME employment, with notably pronounced benefits for private firms. Furthermore, the analysis confirms that GFGs bolster employment rates in firms by easing financial constraints and increasing firm revenues.

Keywords: Government-Backed Financing Guarantee; Employment; Inclusive Finance (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:spr:advbcp:978-94-6463-527-0_7

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DOI: 10.2991/978-94-6463-527-0_7

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