Comparing the Impact of Credit Constraints on the Growth of SMEs in a Transition Country with an Established Market Economy

John Hutchinson and Ana Xavier ()

LICOS Discussion Papers from LICOS - Centre for Institutions and Economic Performance, KU Leuven

Abstract: In this paper we compare the role of internal finance on the growth of firms between a leading transition country, Slovenia and an established market economy, Belgium. We find that firms in Slovenia are more sensitive to internal financing constraints than their Belgian counterparts. This would suggest that although Slovenian firms are no longer recipients of soft budget constraints, capital markets are not yet functioning properly.

Keywords: financial constraints; transition economics; manufacturing (search for similar items in EconPapers)
JEL-codes: G32 L6 P2 (search for similar items in EconPapers)
Pages: 25 pages
Date: 2004
New Economics Papers: this item is included in nep-cfn, nep-ent, nep-mfd and nep-tra
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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http://www.econ.kuleuven.be/licos/publications/dp/dp150.pdf

Related works:
Journal Article: Comparing the Impact of Credit Constraints on the Growth of SMEs in a Transition Country with an Established Market Economy (2006)
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Persistent link: https://EconPapers.repec.org/RePEc:lic:licosd:15004

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