reliant on bank credit. The credit channel theory states that, for small enterprises, a stricter monetary policy stance …-Saxon countries -have been discussing the credit channel approach, which embraces the credit supply as weIl as the interest rate … results in a higher cost of borrowed funds than for larger enterprises or even in credit rationing. The result is that this …

heavily reliant on bank credit. The credit channel theory states that, for small enterprises, a stricter monetary policy …-Saxon countries -have been discussing the credit channel approach, which embraces the credit suppIy as well as the interest rate … stance results in a higher cost of borrowed funds than for larger enterprises or even in credit rationing. The result is that …