This paper analyzes the medium-term growth performance of firms that exclusively received start-up assistance from programs administered by the Deutsche Ausgleichsbank (DtA), a state owned bank, within two years after start-up. I apply a parametric selection approach that controls for two potential sources of self selection (receipt of assistance, complete interview data). The empirical ana-lysis shows that firms receiving assistance perform better in terms of employment growth over a six year period.
Almus, Matthias (2001), Evaluating the Impact of Public Start-up Assistance - Results from an Econometric Approach, ZEW Discussion Paper No. 01-23, Mannheim. Download