The study assesses the macro-financial situation of Belarus. It analyses the Belarus financial sector, with a specific … look at the banking sector. Moreover this study explores the private sector financing environment. In particular the study …

institutional and legal environment they operate in. We employ the most recent wave of the EIB's Bank Lending Survey. The survey is …

opportunity for unlisted firms. Using the Italian Credit Register, we investigate the impact of minibond issuance on bank credit … conditions for issuer firms, both at the firm-bank and firm level. We compare new loans granted to issuer firms with new loans … concurrently granted to similar non-issuer firms. We find that issuer firms obtain lower interest rates on bank loans of the same …

lower interest rates on bank loans of the same maturity than non-issuer firms, suggesting an improvement in their bargaining … power with banks. Issuer firms also reduce the amount of used bank credit, expand their total and fixed assets, and raise …

small and medium-sized enterprises (SMEs), complementing bank lending. In this essay we argue that rather than focussing on … pure non-bank lending, a reasonable mix of bank- and market-based financing should be considered. Banks are said to have a …

bank credit conditions for issuer firms, both at the firm-bank and firm level. We compare new loans granted to issuer firms … bank loans of the same maturity than non-issuer firms, suggesting an improvement in their bargaining power with banks. In … addition, issuer firms reduce the amount of used bank credit but increase the overall amount of available external funds …