In a model with costly financial intermediation and financial disturbances, credit subsidies are desirable … superior to other credit policies such as direct lending …

source—each program’s subsidy component. Recent credit reform proposals would make control of credit subsidies the primary …While federal credit programs are varied in form, their fiscal and economic effects arise primarily from the same … means to control the long-run fiscal effects of credit programs. Such reforms also would represent an important first step …

The aim of this paper is to empirically analyse the effects of governmentally promoted credit access on the investment … behaviour of credit rationed farmers. This is done by specifying an empirical investment equation which is estimated on a cross … contains the financial variable long-term credit access, which plays the central role in this study. The econometric analysis …