Capital subsidy programmes aimed at small businesses attempt to compensate for market failures that exist in the conventional financing markets. The existence of these market failures means that some small firms can be denied access to credit despite the fact that they have viable business...

Economic impact studies based on short-run spending injections and multipliers lack conceptual ties to measures of economic surplus, fail to capture intangible benefits and generally fail to measure costs. In this case study of the Eurovision Song Contest (ESC) held in Israel in 1999, national...