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Self-Rationing in European Businesses: Evidence from Survey Analysis

Christos Kallandranis () and Konstantinos Drakos ()

Finance Research Letters, 2021, vol. 41, issue C

Abstract: By employing the SAFE survey data set where the credit access trend is observed directly, we explore the so-called discouraged type of borrowers. This category was largely omitted by the traditional credit rationing literature. Incorporating two possible proxies, size and age, which are affecting seeking and access to finance, we provide evidence that both are relevant to the likelihood of discouragement. In particular, size reveals a monotonic drop while age an inverse U relationship with discouragement rates. Discouragement is also strongly affected by overall country conditions.

Keywords: Small Business Lending; Loans; Rationing; Discouraged Borrowers; Survey Data (search for similar items in EconPapers)
JEL-codes: C25 G10 G30 (search for similar items in EconPapers)
Date: 2021
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DOI: 10.1016/

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