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This paper conducts the first empirical study of the bank balance sheet channel using data on discouraged and informally rejected firms in addition to information on the formal loan granting process. I take advantage of a unique survey data on the credit experience of firms in 8 economies that...
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Phare support to SME development has mainly consisted of technical assistance and advisory services to national institutions, support to SME policy and legislative development and financial support for SME development. Progress has been made in tackling problems inherited from the past, as well...
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