Small firm finance, credit rationing, and the impact of SBA-guaranteed lending on local economic growth
Small firm finance, credit rationing, and the impact of SBA-guaranteed lending on local economic growth
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DOI：
10.1111/j.1540-627x.2007.00202.x
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发表时间：
2007-01-01
影响因子：
6.2
通讯作者：
Thomson, James B.
中科院分区：
文献类型：
--
作者：
Craig, Ben R.;Jackson, William E., III;Thomson, James B.
政策制定者越来越多地将小企业部门视为经济增长的潜在引擎。促进小企业发展的政策包括税收减免、直接补贴以及通过政府贷款计划提供的间接补贴。鼓励向小企业提供贷款是小企业管理局 (SBA) 贷款担保计划的主要政策目标。使用 SBA 担保贷款的面板数据集，我们评估 SBA 担保贷款是否对当地经济表现产生明显影响。我们发现当地市场 SBA 担保贷款的相对水平与该市场未来人均收入增长之间存在积极且显着的关系（尽管在经济上规模较小）。
Increasingly, policymakers look to the small business sector as a potential engine of economic growth. Policies to promote small businesses include tax relief, direct subsidies, and indirect subsidies through government lending programs. Encouraging lending to small business is the primary policy objective of the Small Business Administration (SBA) loan-guarantee program. Using a panel data set of SBA-guaranteed loans, we assess whether or not SBA-guaranteed lending has an observable impact on local economic performance. We find a positive and significant (although economically small) relationship between the relative levels of SBA-guaranteed lending in a local market and the future per capita income growth in that market.