Table A12.
Matching Results for Medium-Run Policy Effects with High Credit Demand.
| Cash <1 Month | Reopen | Labor Recovery >50% | |
|---|---|---|---|
| Treatment group | 0.137 | 0.906 | 0.824 |
| Control group | 0.247 | 0.904 | 0.792 |
| ATT | −0.211*** | 0.006 | −0.013 |
| (0.061) | (0.035) | (0.048) | |
| Number of matched pairs | 175 | 175 | 159 |
Note: This table reports the estimated average treatment-on-the-treated (ATT) effects of credit of loan support policies on SMEs' outcomes on subsample with high credit demand, based on the propensity score matching (PSM) method. The matching covariates include SMEs' basic characteristics (sales, employment, age, service sector indicator), geographical distance to Wuhan, and industry dependence on Hubei Province. Robust standard errors are reported in parentheses. *** p < 0.01, ** p < 0.05, * p < 0.1.