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Capital allocation, credit access, and firm growth in Vietnam

Christina Kinghan, Carol Newman () and Conor O'Toole ()

No wp-2018-67, WIDER Working Paper Series from World Institute for Development Economic Research (UNU-WIDER)

Abstract: In this paper, we explore the relationship between firm growth, access to finance, and the efficiency of capital allocation in Vietnam over the period 2005-2015. Using data from the UNU-WIDER Vietnam SME survey, we test whether firms with higher marginal returns to capital are more or less likely to get access to financing. This is a key test of how efficiently the financial system is functioning. We also test whether credit supply constraints are hindering capital allocation by limiting the investment and employment activities of firms with the highest marginal return on capital.

Keywords: Investment and access to finance; SME; Access to credit (search for similar items in EconPapers)
Date: 2018
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