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Partial credit guarantees and firm performance
This paper studies the effect of government-backed partial credit guarantees on firms' performance in Colombia. These guarantees are automatically granted by the National Guarantee Fund (NGF) to firms without enough collateral to lift their credit constraints. We put together a panel of firms...
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| Format: | Article |
| Language: | English |
| Published: |
2014
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| Subjects: |
| LEADER | 01203nab a22001817a 4500 | ||
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| 008 | 160615b2014 xxu||||| |||| 00| 0 eng d | ||
| 100 | |a Arrìz, Irani | ||
| 245 | |a Partial credit guarantees and firm performance |c evidence from Colombia / Arrìz, Irani. | ||
| 260 | |c 2014 | ||
| 300 | |a 711 - 724 | ||
| 520 | |a This paper studies the effect of government-backed partial credit guarantees on firms' performance in Colombia. These guarantees are automatically granted by the National Guarantee Fund (NGF) to firms without enough collateral to lift their credit constraints. We put together a panel of firms covering the period 1997-2007 that allows us to control for observed and unobserved firm characteristics potentially affecting both the selection of firms into the program and firms' performance. We find that firms that gain access to credit backed by the NGF were able to grow in terms of both output and employment. However, we do not find any effect on productivity, wages, or investment. | ||
| 650 | |a Productivity | ||
| 650 | |a Job Creation | ||
| 650 | |a Firm Growth | ||
| 650 | |a Access To Credit | ||
| 650 | |a Partial Credit Guarantee | ||
| 773 | |a Small Business Economics |d October | ||
| 999 | |c 41871 |d 41871 | ||