Suchergebnisse

When designing schemes to help SMEs survive crises, the government typically faces asymmetric information, so that it cannot target the SMEs most worth saving. We show that the government can exploit the information in the borrower loan demand to improve policy targets compared with existing programmes. If the aim is employment protection, optimal policy should fully subsidise the funding cost of only those SMEs whose loan size is below a threshold. If the aim is economic efficiency, the government should target SMEs whose loan size is above a threshold. In general, public policy should utilise private sectors' information and expertise.

The largest Asian community in Europe has effectively built its public identity in France via popular presentations, the political strategies of its leaders, and those of the French authorities. Sometimes it is presented for tourist and commercial purposes as an exotic image with vague outlines and content, sometimes as a "model of integration and citizenship", and sometimes as a cultural and economic bridge between France and Asia. This article concerns itself with three kinds of situations: the cultural and political events specific to the celebrations of the Chinese New Year; the project of the monument named "Arche de la Fraternité" replacing a traditional "Chinatown gate"; and the consequences of the health crisis on this community. Completed by a portfolio, the article closely examines how this Asian diaspora benefited from its special recognition by the French public authorities (from the left and right) during the past decades. Finally, it asks if this recognition, granted and received as a privilege, will be permanent or if it is a fragile construction, the future of which will depend on France's domestic and international politics.