Fidrmuc, Jarko; Hainz, Christa; Malesich, Anton - William Davidson Institute, University of Michigan - 2006
Banks entering an emerging market face a lot of uncertainty about the risks involved in lending. We use a unique unbalanced panel of nearly 700 shortterm loans made to SMEs in Slovakia between January 2000 and June 2005. Of the loans granted, on average 6.0 per cent of the firms defaulted....
