stable finance. One efficient way to promote SME financing is through credit guarantee schemes, where the government … guarantees a portion (ratio) of a loan provided by a bank to an SME. This research provides a theoretical model and an empirical … analysis of factors that determine optimal credit guarantee ratio. The ratio should be able to fulfill the government's goal of …

Small businesses (SMEs) depend on banks for credit. We show that the severity of the Eurozone crisis was worse in …

After the inception of the euro, the real economy in most member countries remained dependent on credit by domestic …