Access to Credit and Growth of Firms

Michał Brzozowski ()

Czech Journal of Economics and Finance (Finance a uver), 2019, vol. 69, issue 3, 253 - 274

Abstract: The aim of the paper is to analyze the employment and sales growth of companies in transition countries of Eastern Europe and Central Asia that have obtained bank credit in the aftermath of the global financial crisis. It is shown, using a treatment effects model, that loans are negatively and positively related to employment growth and sales growth, respectively. Loans that completely remove any restrictions to accessing finance do not have a positive effect on sales growth.

Keywords: financial constraints; loan; sales growth; employment growth (search for similar items in EconPapers)
JEL-codes: D24 G21 J23 (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:fau:fauart:v:69:y:2019:i:3:p:253-274

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