EIB Working Paper 2022/03 : Estimating conditional treatment effects of EIB lending to SMEs in Europe

European Investment Bank; Barbera, Alessandro; Gereben, Aron; Wolski, Marcin

doi:https://doi.org/10.2867/571551

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https://library.oapen.org/bitstream/20.500.12657/54202/1/QHBK22003ENN.en.pdf
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Author(s)

European Investment Bank

Barbera, Alessandro

Gereben, Aron

Wolski, Marcin

Collection

Knowledge Unlatched (KU)

Language

English

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Abstract

Small and medium-sized firms play a key role in the European economy. This paper uses statistical methods to estimate the effects of EIB financial support on European companies between 2008 and 2015. It shows that the effects of EIB supported lending on job creation and investments were larger for smaller and younger firms, and that longer maturities and more advantageous loan pricing are associated with larger employment and investment effects. The results suggest that benefits of the EIB support are more noticeable on an intensive margin, instead of on an extensive one.

URI

https://directory.doabooks.org/handle/20.500.12854/81607

Keywords

Business & Economics; Finance; thema EDItEUR::K Economics, Finance, Business and Management::KF Finance and accounting::KFF Finance and the finance industry