earticle

영어

There are many researches to analyze the productivity or efficiency of the public financing support for the small business in terms of its contribution on the regional economic performance. The paper argues that the reason for the acceptable performance, however, may come from the methodological bias, instead of the empirical contents or theory itself. Thus, the objective of the research focused whether the public financing support such as credit guarantee is really effective. The empirical result shows the public financing pitfall by the “consultocracy” with negative effect and thus it requires the innovation not of the system, but of the governance.