Economy-wide effects of improving small and medium enterprises' acces to capital markets: An applied general equilibrium assessment

Is it possible to increase GDP, reduce unemployment and improve income distribution by providing small and medium enterprises (SMEs) better access to capital markets? In this study, we used a CGE model of Argentina to address this question and to evaluate the economy-wide net impact accounting for t...

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Autores principales:	Chisari,Omar O, Romero,Carlos, Vila Martínez,Juan Pablo
Lenguaje:	English
Publicado:	ILADES. Universidad Alberto Hurtado. 2016
Materias:	Small and medium enterprises CGE access capital markets Argentina
Acceso en línea:	http://www.scielo.cl/scielo.php?script=sci_arttext&pid=S0718-88702016000100002
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spelling	oai:scielo:S0718-887020160001000022016-04-29Economy-wide effects of improving small and medium enterprises' acces to capital markets: An applied general equilibrium assessmentChisari,Omar ORomero,CarlosVila Martínez,Juan Pablo Small and medium enterprises CGE access capital markets Argentina Is it possible to increase GDP, reduce unemployment and improve income distribution by providing small and medium enterprises (SMEs) better access to capital markets? In this study, we used a CGE model of Argentina to address this question and to evaluate the economy-wide net impact accounting for the reallocation of resources from other sectors. We find that although the benefits in question could be attained, SMEs should also be expected to self-exclude from programs that provide access to capital markets if that access is contingent upon higher formalization. Formalization can be expensive for SMEs. Additionally, this model estimated the gains in productivity necessary to incentivize SMEs to formalize and to voluntarily access capital markets; however, after gaining productivity, the SMEs created fewer jobs than initially expected.info:eu-repo/semantics/openAccessILADES. Universidad Alberto Hurtado.Revista de análisis económico v.31 n.1 20162016-04-01text/htmlhttp://www.scielo.cl/scielo.php?script=sci_arttext&pid=S0718-88702016000100002en10.4067/S0718-88702016000100002
institution	Scielo Chile
collection	Scielo Chile
language	English
topic	Small and medium enterprises CGE access capital markets Argentina
spellingShingle	Small and medium enterprises CGE access capital markets Argentina Chisari,Omar O Romero,Carlos Vila Martínez,Juan Pablo Economy-wide effects of improving small and medium enterprises' acces to capital markets: An applied general equilibrium assessment
description	Is it possible to increase GDP, reduce unemployment and improve income distribution by providing small and medium enterprises (SMEs) better access to capital markets? In this study, we used a CGE model of Argentina to address this question and to evaluate the economy-wide net impact accounting for the reallocation of resources from other sectors. We find that although the benefits in question could be attained, SMEs should also be expected to self-exclude from programs that provide access to capital markets if that access is contingent upon higher formalization. Formalization can be expensive for SMEs. Additionally, this model estimated the gains in productivity necessary to incentivize SMEs to formalize and to voluntarily access capital markets; however, after gaining productivity, the SMEs created fewer jobs than initially expected.
author	Chisari,Omar O Romero,Carlos Vila Martínez,Juan Pablo
author_facet	Chisari,Omar O Romero,Carlos Vila Martínez,Juan Pablo
author_sort	Chisari,Omar O
title	Economy-wide effects of improving small and medium enterprises' acces to capital markets: An applied general equilibrium assessment
title_short	Economy-wide effects of improving small and medium enterprises' acces to capital markets: An applied general equilibrium assessment
title_full	Economy-wide effects of improving small and medium enterprises' acces to capital markets: An applied general equilibrium assessment
title_fullStr	Economy-wide effects of improving small and medium enterprises' acces to capital markets: An applied general equilibrium assessment
title_full_unstemmed	Economy-wide effects of improving small and medium enterprises' acces to capital markets: An applied general equilibrium assessment
title_sort	economy-wide effects of improving small and medium enterprises' acces to capital markets: an applied general equilibrium assessment
publisher	ILADES. Universidad Alberto Hurtado.
publishDate	2016
url	http://www.scielo.cl/scielo.php?script=sci_arttext&pid=S0718-88702016000100002
work_keys_str_mv	AT chisariomaro economywideeffectsofimprovingsmallandmediumenterprisesaccestocapitalmarketsanappliedgeneralequilibriumassessment AT romerocarlos economywideeffectsofimprovingsmallandmediumenterprisesaccestocapitalmarketsanappliedgeneralequilibriumassessment AT vilamartinezjuanpablo economywideeffectsofimprovingsmallandmediumenterprisesaccestocapitalmarketsanappliedgeneralequilibriumassessment
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Economy-wide effects of improving small and medium enterprises' acces to capital markets: An applied general equilibrium assessment

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