Can Government Intervention Make Firms More Investment Ready? A Randomized Experiment in the Western Balkans
成果类型：
Article
署名作者：
Cusolito, Ana Paula; Dautovic, Ernest; McKenzie, David
署名单位：
The World Bank; European Central Bank; University of Lausanne
刊物名称：
REVIEW OF ECONOMICS AND STATISTICS
ISSN/ISSBN：
0034-6535
DOI：
10.1162/rest_a_00882
发表日期：
2021-07
页码：
428-442
关键词：
摘要：
Innovative firms with good ideas may still struggle to fine-tune them to the stage where they can attract outside funding. We conduct a five-country randomized experiment that tests the impact of an investment readiness program. Firms then pitched their ideas to independent judges. The program resulted in a 0.3 standard deviation increase in the investment readiness score. Two years later, the average impacts on firm investment outcomes are positive but small in magnitude and not statistically significant. Larger and statistically significant impacts on receiving outside funding occur for smaller firms and for firms with lower likelihoods of otherwise being funded.
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