Treatment Effect Analysis of Technology-Based Credit Guarantee

• 발행기관: 한국자료분석학회
• 저자명: Soon Jae Lee Sang Bong Kim Joo-ha Nam
• 간행물 정보: 『Journal of The Korean Data Analysis Society (JKDAS)』Vol.15 No.6, 2987~3002쪽, 전체 16쪽
• 주제분류: 자연과학 > 통계학
• 파일형태: PDF
• 발행일자: 2013.12.30

영문 초록

This paper analyzes the effect of technology-based credit guarantees on small and medium-sized enterprises with firm-level panel data and various estimation methods. To estimate the impact of technology-based credit guarantees granted by the Korea Technology Credit Guarantee Fund (KTCG), we investigate changes in profitability, financial stability, and production efficiency among firms that have been the recipients of such technologybased credit guarantees. We find that technology-based credit guarantees tend to increase productivity of firms and ease firms’ financing constraints in the short run. Moreover, receiving such guarantees significantly influences firms’ performance by improving their long-term financial stability and efficiency. We conclude that the KTCG satisfies its policy objective in the long run as well as in the short run, contributing to the growth of the national economy.

목차

1. Introduction

2. Methodologies

3. Data

4. Empirical Results

5. Conclusion and Policy Implications

References

키워드

Treatment effect Technology Credit Guarantee OLS Difference-indifference