Economics at your fingertips  

Access to finance and funding composition during the crisis: A firm-level analysis of Latin American countries

Sandra Leitner and Robert Stehrer

Latin American Journal of Economics-formerly Cuadernos de Economía, 2013, vol. 50, issue 1, 1-47

Abstract: This paper describes the effects of the 2009 global financial crisis on firms' access to financing for investment projects. The analysis uses data from the Latin American and Caribbean Enterprise Surveys 2006 and 2010, demonstrating that during the crisis, the availability of internal sources was crucial for larger and foreign-owned firms or firms that were part of a group, while state-owned firms did not enjoy any financial privileges. Firms sought greater bank and supply-chain financing, larger firms used less internal funds, foreign firms relied more on internal funds, while firms that export and import used bank credits more intensively.

Keywords: Financial crisis; access to financing; capital structure; firm-level analysis; Latin America (search for similar items in EconPapers)
JEL-codes: D22 G01 G11 L16 (search for similar items in EconPapers)
Date: 2013
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3) Track citations by RSS feed

Downloads: (external link) (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link:

Ordering information: This journal article can be ordered from

Access Statistics for this article

Latin American Journal of Economics-formerly Cuadernos de Economía is currently edited by Raimundo Soto

More articles in Latin American Journal of Economics-formerly Cuadernos de Economía from Instituto de Economía. Pontificia Universidad Católica de Chile. Contact information at EDIRC.
Bibliographic data for series maintained by Jaime Casassus ().

Page updated 2021-09-11
Handle: RePEc:ioe:cuadec:v:50:y:2013:i:1:p:1-47