| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP15799 |
| DP15799 Public Guarantees for Small Businesses in Italy during Covid-19 | |
| Filippo De Marco; Fabrizio Core | |
| 发表日期 | 2021-02-11 |
| 出版年 | 2021 |
| 语种 | 英语 |
| 摘要 | This paper investigates whether the private sector can efficiently allocate public funds during a crisis. Using loan-level data, we exploit the unique features of the Italian public guarantee scheme during Covid-19 to study lenders’ incentives to distribute government guaranteed credit. Our results indicate that two key bank characteristics facilitated loan disbursement: size and information technology. These factors are important because of the high volume of online applications and low interest margins on guaranteed lending. Pre-existing relationships matter for the allocation of guaranteed credit, as banks lend more in their core markets and where they have a larger share of local branches. |
| 主题 | Financial Economics |
| 关键词 | Public guarantees Covid-19 Liquidity constraints Information technology Lending relationships |
| URL | https://cepr.org/publications/dp15799 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/544799 |
| 推荐引用方式 GB/T 7714 | Filippo De Marco,Fabrizio Core. DP15799 Public Guarantees for Small Businesses in Italy during Covid-19. 2021. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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