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Financing Sme In Emerging Economies

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  • Alina Ernst

Abstract

This paper explores the degree of financial m arket integration between the new and old EU member states; it also considers the likely effects of the ongoing integration process on the new members' financial sectors. In particular, the paper discusses the implications of the high concentration of financial services and the dominance of foreign-owned institutions for the provision of financial services to small and medium-sized enterprises (SMEs) in the accession countries. Using enterprise data on a certain number of companies, the paper finds that access to finance still constitutes a major problem for business development and that financing conditions are considerably more difficult for SMEs than for larger entities.

Suggested Citation

  • Alina Ernst, 2006. "Financing Sme In Emerging Economies," Annales Universitatis Apulensis Series Oeconomica, Faculty of Sciences, "1 Decembrie 1918" University, Alba Iulia, vol. 2(8), pages 1-27.
    • Handle: RePEc:alu:journl:v:2:y:2006:i:8:p:27
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    References listed on IDEAS

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    1. Mariassunta Giannetti & Luigi Guiso & Tullio Jappelli & Mario Padula & Marco Pagano, 2002. "Financial Market Integration, Corporate Financing and Economic Growth," European Economy - Economic Papers 2008 - 2015 179, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
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    More about this item

    Keywords

    financial sector; financing; small and medium-sized enterprises; international integration;
    All these keywords.

    JEL classification:

    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration

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