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Bank Loans And Small Firm Financing In Romania

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  • Daniela Rodica Silivestru(Popescu)

    (‘Babes-Bolyai‘ University Cluj-Napoca Romania)

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    Abstract

    According to a recent survey conducted by the European Commission, Europeansmall and medium size enterprises (SMEs) are highly dependent on bank loans when it comesto financing their activity and accomplishing their growth ambitions. Romanian smallenterprises make no exception. In 2011, on average 87% of Romanian SMEs borrowingsoriginate from bank loans. However due to the economic and financial crisis the RomanianSMEs access to credit has deteriorated considerably in comparison with the EU average.Since 2009 only 41% of SMEs managed to access bank loans. In this context, the presentpaper seeks to analyze the gap between the demand and supply of bank credit to SMEs inRomania between 2007 and 2011.

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    Bibliographic Info

    Article provided by Faculty of Sciences, "1 Decembrie 1918" University, Alba Iulia in its journal Annales Universitatis Apulensis Series Oeconomica.

    Volume (Year): 1 (2012)
    Issue (Month): 14 ()
    Pages: 15

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    Handle: RePEc:alu:journl:v:1:y:2012:i:14:p:15

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    Related research

    Keywords: SMEs; bank credit supply; bank credit demand; financing gap;

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    1. Beck, Thorsten & Demirgüç-Kunt, Asli & Maksimovic, Vojislav, 2008. "Financing patterns around the world: Are small firms different?," Journal of Financial Economics, Elsevier, vol. 89(3), pages 467-487, September.
    2. Bell, Clive, 1990. "Interactions between Institutional and Informal Credit Agencies in Rural India," World Bank Economic Review, World Bank Group, vol. 4(3), pages 297-327, September.
    3. Filipe Silva & Carlos Carreira, 2010. "Financial constraints: Are there differences between manufacturing and services?," GEMF Working Papers 2010-16, GEMF - Faculdade de Economia, Universidade de Coimbra.
    4. Levine, Ross, 2005. "Finance and Growth: Theory and Evidence," Handbook of Economic Growth, in: Philippe Aghion & Steven Durlauf (ed.), Handbook of Economic Growth, edition 1, volume 1, chapter 12, pages 865-934 Elsevier.
    5. Zsuzsanna K.SZABO, 2011. "The impact of the crisis on the SME sector in Romania-The back-up of innovation and entrepreneurship development," Romanian Journal of Economics, Institute of National Economy, vol. 33(2(42)), pages 90-108, December.
    6. Jonathan M Scott & David Irwin, 2009. "Discouraged advisees? The influence of gender, ethnicity, and education in the use of advice and finance by UK SMEs," Environment and Planning C: Government and Policy, Pion Ltd, London, vol. 27(2), pages 230-245, April.
    7. Schmitz, Hubert, 1982. "Growth constraints on small-scale manufacturing in developing countries: a critical review," World Development, Elsevier, vol. 10(6), pages 429-450, June.
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