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Publikation: Monographie

The economic and fiscal value of German guarantee banks


Grunddaten

Titel The economic and fiscal value of German guarantee banks
Erscheinungsjahr 2017
Verlag Universität Rostock
Verlagsort Rostock
Serie Thünen series of applied economic theory ; no. 152
Publikationsform Elektronische Ressource
Publikationsart Monographie
Sprache Englisch
Letzte Änderung 18.12.2018 05:03:40
Bearbeitungsstatus durch UB Rostock abschließend validiert
Dauerhafte URL http://purl.uni-rostock.de/fodb/pub/57229
Links zu Katalogen Diese Publikation in der Universitätsbibliographie Diese Publikation im GBV-Katalog

Abstract

Guarantee banks backed by the state aim to close the gap in the financing of small and medium-sized enterprises or start-ups caused by lacking collateral or equity and high information asymmetry. The present study quantifies the economic and fiscal net benefits of guarantee banks in the new federal states of Germany, where economic development is still lacking behind those in the old federal states. Using data of five guarantee banks and results from enterprise and bank surveys, we measure finance and project additionality of loan and equity guarantees provided over the period 1991-2015. Cost-benefit analyses show that the economic benefits of the guarantee banks are considerable because of increased production and employment, while the economic costs are negligible. The real GDP increases by about 1.2 euro per euro guarantee each year. In the years 2008 to 2014, there were net fiscal gains of several hundred million euros in the respective federal states.

Autoren

Hennecke, Peter Link zur UB Rostock Link zum GBV-Katalog
Neuberger, Doris Link zur UB Rostock Link zum GBV-Katalog
Ulbricht, Dirk

Einrichtung

WSF/IfVWL/Geld und Kredit