Small and Medium-sized Enterprises' Credit Rationing on the Tunisian Bank Credit Market

Philippe Adair and Fredj Fhima

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Abstract: We use a disequilibrium model to estimate credit rationing to Small and Medium-sized Enterprises (SMEs) on the Tunisian bank credit market. Based on a panel dataset of 1,275 SMEs over the period 2001-2006, results show that the demand for bank credit is not determined by " endogenous " factors, i.e. the activity level and internal available resources of SMEs, but rather by " exogenous " factors, i.e. the cost of financing and guarantees required by banks. The latter, especially real guarantees, explain to a large extent the lack of bank lending and results in an average share of 80% — partially or totally — credit rationed SMEs.

Keywords: Banks; Credit rationing; Econometrics; Disequilibrium model; Tunisia; SMEs; Panel data (search for similar items in EconPapers)
Date: 2014
Note: View the original document on HAL open archive server: https://hal.science/hal-01667356v1
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Citations: View citations in EconPapers (1)

Published in Journal of Economics and Development Studies, 2014, 2 (1), pp.81-97

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-01667356

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