@article{Forstner:181903,
      recid = {181903},
      author = {Forstner, Bernhard and Koester, Ulrich},
      title = {EU investment support for small and medium-sized  enterprises in southern Europe: to be recommended?},
      address = {2014},
      number = {919-2016-72795},
      series = {IAMO Policy Brief},
      pages = {4},
      year = {2014},
      abstract = {The president of the European Parliament, Martin Schulz,  has repeatedly pointed out that small and medium-sized  enterprises (SMEs) in some southern European countries face  major constraints to access to credit and that removing  these constraints for SMEs could contribute to reducing  unemployment. He promised to support special loans  programs. According to press reports the European Central  Bank is also considering low-cost loans for national banks  if they provide credit for SMEs. In this article it is  argued theoretically and empirically that the  single-business investment support does not address the  causes of high unemployment and could result, due to the  difficulty in monitoring, in great inefficiencies. Studies  that have focused on rural development measures to improve  regional economic structures do not show that investment  support is an efficient economic policy measure. There are  more efficient measures available. An ex-ante evaluation,  which is in accordance with EU regulations for the  conception of new policies, projects and programs (EU  Commission 2006), was conducted to test this  recommendation. Any adoption of such policy, should be  based on the results of economic analyses and - if  available - empirical studies.},
      url = {http://ageconsearch.umn.edu/record/181903},
      doi = {https://doi.org/10.22004/ag.econ.181903},
}