Regional Determinants of Small Firm Loans Under the U.K. Loan Guarantee Scheme
Regional Determinants of Small Firm Loans Under the U.K. Loan Guarantee Scheme
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英国贷款担保计划下小企业贷款的区域决定因素
DOI：
10.1023/a:1007956403565
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发表时间：
1998
影响因子：
6.4
通讯作者：
M. Cowling
中科院分区：
文献类型：
--
作者：
M. Cowling
贷款担保计划是在1981年启动的，目的是减轻小公司因缺乏抵押品而获得银行融资的能力受到的限制。这篇论文表明，一项全国性的小企业支持计划在实施时，在不同地区的覆盖面相当不同。简而言之，初步证据表明，英格兰北部地区一直是该计划的主要净受益者，主要是以北爱尔兰和苏格兰为代价的。进一步的分析发现，房价是贷款规模的唯一最重要的决定因素，它通过抵押品效应发挥作用。在贷款数量和价值方面，固定区域效应占主导地位，特别是在东南部和西北部。
The Loan Guarantee Scheme was initiated in 1981 in order to alleviate a perceived constraint in the ability of small firms to secure bank finance due to a lack of collateral. This paper shows that a national small firms support scheme has, at the point of delivery, had quite different coverage across regions. Briefly, the initial evidence suggests that the Northern regions of England have been the major net beneficiaries of the scheme, primarily at the expense of Northern Ireland and Scotland. Further analysis identified house prices as the single most important determinant of loan size, acting via a collateral effect. On loan numbers and value, fixed regional effects were dominant particularly in the South East and North West.