Investment and Finance in "de novo" private firms: Empirical Results from the Czech Republic, Hungary and Poland
AbstractIn this paper we use a survey of 281 Czech, Hungarian and Polish newly established small private firms in order to shed some light on the constraints these firms face in the credit market. We show that financial intermediation works reasonably well: it is difficult to find signs of credit rationing and banks seems to be able to discriminate between good and bad firms. They protect themselves against the risk of a deteriorating pool of borrowers by requiring a collateral for their loans.
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Bibliographic InfoArticle provided by The European Bank for Reconstruction and Development in its journal The Economics of Transition.
Volume (Year): 8 (2000)
Issue (Month): 1 (March)
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Other versions of this item:
- Bratkowski, A. & Grosfeld, I. & Rostowski, J., 1998. "Investment and Finance in De Novo Private Firms: Empirical Results form the Czech Republic, Hungary and Poland," DELTA Working Papers 98-19, DELTA (Ecole normale supérieure).
- Andrzej Bratkowski & Irena Grosfeld & Jacek Rostowski, 1999. "Investment and Finance in De Novo Private Firms: Empiracal Results from the Czech Republic, Hungary and Poland," William Davidson Institute Working Papers Series 236, William Davidson Institute at the University of Michigan.
- D8 - Microeconomics - - Information, Knowledge, and Uncertainty
- P2 - Economic Systems - - Socialist Systems and Transition Economies
- P34 - Economic Systems - - Socialist Institutions and Their Transitions - - - Finance
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