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foster SME lending and attention has focused on improving the institutional environment, such that the financial system is … more willing to lend to SMEs. In this paper, we directly ask banks (the main providers of SME external finance) what … and retail sectors. They perceive the SME market as highly profitable, large, and with good prospects. Moreover, banks are …
Persistent link: https://www.econbiz.de/10013159698
We study third-party loan guarantees in a model in which lenders can screen, learn loan quality over time and can sell loans before maturity when in need of liquidity. Loan guarantees improve market liquidity and reduce lending standards, with a positive overall welfare effect. Guarantees...
Persistent link: https://www.econbiz.de/10013403073
We study the effect of short-term finance on firm growth and its aggregate implications. Using a unique firm-level dataset of a credit guarantee program in Morocco, we show that firms with guaranteed short-term loans expand their production scale homogeneously and sharply decrease their cash...
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interested in serving SMEs, small and niche banks have an advantage because they can overcome SME opaqueness through relationship …
Persistent link: https://www.econbiz.de/10013089735
Staatliche Bürgschaften und Bürgschaftsbanken sind wichtige Instrumente, um Kreditrationierung aufgrund von Informationsasymmetrien zu reduzieren und somit die Finanzierung kleiner und mittelständischer Unternehmen zu erleichtern. Der vorliegende Beitrag untersucht die Wirksamkeit dieser...
Persistent link: https://www.econbiz.de/10003886244
foster SME lending and attention has focused on improving the institutional environment, such that the financial system is … more willing to lend to SMEs. In this paper, we directly ask banks (the main providers of SME external finance) what … and retail sectors. They perceive the SME market as highly profitable, large, and with good prospects. Moreover, banks are …
Persistent link: https://www.econbiz.de/10010276834