Julien Brault
Research Officer at the European Investment Fund
European Investment Bank Group
(CV)
Research Interests
Financial Economics - Macroeconomics - Economic History
Research Officer at the European Investment Fund
European Investment Bank Group
(CV)
Research Interests
Financial Economics - Macroeconomics - Economic History
Recent Research
The Real Effects of EU Loan Guarantee Schemes for SMEs: a Pan-European Assessment
We provide a pan-European assessment of EU credit guarantees to SMEs. Guaranteed loans are found to positively affect the growth of firms’ assets (by 7 to more than 35%), the share of intangible assets (by one third of the initial share in Italy and the Nordic countries), sales (by 6 to 35%), employment (by 8 to 30%), and lower their probability to default (by 4 to 5%). Link
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The Impact of EU Loan Guarantee Financial Instruments on the Growth and Jobs of SMEs
We investigate the economic effects of guaranteed loans granted under the EU programmes MAP and CIP on SMEs’ growth in Italy, the Benelux and the Nordic countries from 2002 to 2016. Overall, guaranteed loans are found to positively affect the growth in assets (+19.6 percentage points over the two years after the end of the signature year), sales (+14.8 percentage points), employment (+16.9 percentage points) and the share of intangible assets (+1 percentage point). Link
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