Buy Big or Buy Small ? Procurement Policies, Firms’ Financing, and the Macroeconomy (English)

This paper provides a framework to study how different allocation systems of public procurement contracts affect firm dynamics and long-run macroeconomic outcomes. It builds a novel panel dataset for Spain that merges public procurement data, credit register loan data, and quasi-census firm-level data. The paper provides evidence consistent with the hypothesis that procurement contracts act as collateral for firms and help them grow out of their financial...
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di Giovanni,Julian; Garcia Santana,Manuel Jose; Jeenas,Priit; Moral Benito,Enrique; Pijoan-Mas,Josep.

Buy Big or Buy Small ? Procurement Policies, Firms’ Financing, and the Macroeconomy (English). Policy Research working paper ; no. WPS 10522 Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/099734007242321169

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