Comparing the Impact of Credit Constraints on the Growth of SMEs in a Transition Country with an Established Market Economy

In this paper we compare the role of internal finance on the growth of firms between a leading transition country, Slovenia and an established market economy, Belgium. We find that firms in Slovenia are more sensitive to internal financing constraints than their Belgian counterparts. This would suggest that although Slovenian firms are no longer recipients of soft budget constraints, capital markets are not yet functioning properly.

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Year of publication:	2004
Authors:	Hutchinson, John ; Xavier, Ana
Publisher:	Leuven : Katholieke Universiteit Leuven, LICOS Centre for Transition Economics
Subject:	Verschuldungsrestriktion \| Eigenkapital \| Verarbeitendes Gewerbe \| Vergleich \| Slowenien \| Belgien \| financial constraints \| transition economics \| manufacturing

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Series:	LICOS Discussion Paper ; 150
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
Other identifiers:	393761177 [GVK] hdl:10419/74961 [Handle] RePEc:lic:licosd:15004 [RePEc]
Classification:	G32 - Financing Policy; Capital and Ownership Structure ; P2 - Socialist Systems and Transitional Economies ; L6 - Industry Studies: Manufacturing
Source:	EconStor

Persistent link: https://www.econbiz.de/10010313358