Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/89841
Authors: 
Heshmati, Almas
Year of Publication: 
2013
Series/Report no.: 
IZA Discussion Paper 7851
Abstract: 
Korean government has invested significant amount of resources through credit guarantee funds to promote SMEs survival, performance and R&D investment. This study attempts to identify determinants of provision of credit guarantees and estimate their effects on firms R&D expenditures. The relationship between duration of credit and firm's survival and performance is also investigated. Account is made for heterogeneity by various characteristics of firms when looking at credit guarantee and in-house R&D investment relationships. This study results in identification of factors that enhances efficiency of funds and their effects on firms' R&D investment behavior. It enables feedback effects on the public funds selection of firms guaranteed. A number of policy measures are proposed to promote a better balance between public and private investments to reduce the risk of business failure.
Subjects: 
Credit Guarantee
SMEs
public funds
R&D investment
firm performance
firm survival
Death Valley
JEL: 
C13
D92
G28
L25
O32
O38
Document Type: 
Working Paper

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