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For firms' business and investment decisions their access to finance is a critical determinant. In times when access to finance becomes tight, corporations face either higher capital costs or they have to postpone their investment decisions when credit lines are not prolongated. Since business...
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the euro area. Using firm‐level survey data on SME financing conditions, we show that an increase in securitization …
Persistent link: https://www.econbiz.de/10012915560
Small and medium-sized enterprises (SMEs) account for a disproportionate share of output and employment in Europe but are still highly dependent on bank finance, which dried up or became prohibitively expensive during the crisis. Broader access to alternative, long-term finance through...
Persistent link: https://www.econbiz.de/10014412134
Small and medium size enterprises (SMEs) of southern euro-area economies (e.g. Italy, Spain) pay significantly higher borrowing rates than their peers of the core (e.g. Germany, France) and this divergence is widening. It is argued that severe market failures prevent SMEs in southern euro area...
Persistent link: https://www.econbiz.de/10010255130
The SME access-to-finance problem is not universal in the European Union and there are reasons for the fall in credit … aggregates and higher SME lending rates in southern Europe. Possible market failures, high unemployment and externalities justify … quality review before it takes over the single supervisory role. Of the possible initiatives for fostering SME access to …
Persistent link: https://www.econbiz.de/10009766247
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Kleine und mittlere Unternehmen (KMU) in südlichen Euro-Volkswirtschaften wie Italien und Spanien zahlen seit längerem … immer größer. Es wird häufig argumentiert, dass ein gravierendes Marktversagen den Zugang der KMU in südlichen Ländern zu … Verbesserung des Finanzmarktzugangs für KMU, die sowohl den EU-Institutionen als auch der EZB im Rahmen ihres Mandats zur Sicherung …
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