 SMEs and the credit crunch: Current financing difficulties, policy measures and a review of literatureOECD Journal: Financial Market Trends, 2014, vol. 2013, issue 2, 115-148 Abstract: After a brief overview of current financing difficulties for SMEs and policy measures to support SME lending during the crisis,this article presents a literature review related to difficulties in SME’s access to finance during the crisis, against a background of a sharp decline in bank profitability and an erosion of bank capital that negatively affected lending. The articles reviewed are classified according to four main issues of interest:the impairment of the bank-credit channel and its economic effects;factors potentially attenuating the effect of a financial squeeze;the role of global banking in mitigating but also transmitting financial shocks; and,looking ahead,issues related to so-called “credit-less recoveries” that should be relevant in guiding policy makers in the current environment of financial deleveraging. All the results hold important implications for policy making given the bail-outs and the large injections ofliquidity by central banks during the crisis. Keywords: Financial crisis; SME finance; bank lending; credit crunch (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:oec:dafkad:5jz734p6b8jg Access Statistics for this article More articles in OECD Journal: Financial Market Trends from OECD Publishing Contact information at EDIRC. |
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