Place-based SME finance policy and local industrial revivals: An empirical analysis of a directed credit program after WW2

Keisuke Takano and Hiroyuki Okamuro

No E-2020-01, TDB-CAREE Discussion Paper Series from Teikoku Databank Center for Advanced Empirical Research on Enterprise and Economy, Graduate School of Economics, Hitotsubashi University

Abstract: This paper examined the effects on the performance of local SMEs of a modernization fund program for small business enterprises implemented by Osaka Prefecture in the early 1950s. Utilizing firm-level panel data based on business credit reports, we empirically evaluated the effects of the program. We found an improvement in production levels among the recipients. In addition, recipients in sectors related to munitions production or in industrial agglomerations specialized in these sectors achieved additional or larger improvements in their production levels.

Keywords: place-based policy; postwar revival; directed credit; modernization; Osaka (search for similar items in EconPapers)
JEL-codes: H84 N95 O12 R51 R58 (search for similar items in EconPapers)
Pages: 58 pages
Date: 2020-10
New Economics Papers: this item is included in nep-cse, nep-ent, nep-fdg, nep-geo, nep-his and nep-sbm
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https://hermes-ir.lib.hit-u.ac.jp/hermes/ir/re/70076/070careeDP-E-2001.pdf

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Persistent link: https://EconPapers.repec.org/RePEc:hit:tdbcdp:e-2020-01

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