Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/206831
Authors: 
Gereben, Áron
Rop, Anton
Petriček, Matic
Winkler, Adalbert
Year of Publication: 
2019
Series/Report no.: 
EIB Working Papers 2019/09
Abstract: 
Does IFI funding provide support to SMEs receiving such funding? We assess the impact of funding by the European Investment Bank (EIB) on the performance of 5,223 SMEs in eight countries of Central and Eastern Europe (CEE) during 2008-2014. Our results, derived from propensity score matching and difference-in-difference estimation exercises, indicate that EIB lending has a positive effect on employment, revenues and profitability. This positive effect holds irrespective of the economy entering a prolonged crisis or a seeing a recovery in the years following EIB funding. Overall, our results provide support to the view that IFI funding makes a difference in a period characterized by financial and economic turmoil.
Subjects: 
International financial institutions
SMEs
impact
financial crisis
JEL: 
G01
H81
L25
Persistent Identifier of the first edition: 
ISBN: 
978-92-861-4374-8
Document Type: 
Working Paper

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