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Financing situation of German firms: Financial difficulties despite the economic upswing?

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  • Stefan Drews

Abstract

For some time, survey results have indicated a slight improvement in firms' access to credit. Indicators such as the equity situation of the firms and the banks or also the credit default rates in the banks' books do not clearly show, however, that the effects of the financial and economic crisis have been overcome. Stefan Drews, Federal Ministry of Economics and Technology, explains this apparently paradoxical result in that many companies in the early stages of the present economic recovery are only now encountering financial difficulties. He stresses that in the now necessary discussion on winding down of the crisis-combating measures that an all-clear signal on the financing side should not be given too early or hastily. Not until 2011 will we know for sure whether the initial stabilisation trends are robust enough so that sufficient capital will be available for the majority of German firms also in the coming months.

Suggested Citation

  • Stefan Drews, 2010. "Financing situation of German firms: Financial difficulties despite the economic upswing?," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 63(09), pages 21-24, May.
    • Handle: RePEc:ces:ifosdt:v:63:y:2010:i:09:p:21-24
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    More about this item

    JEL classification:

    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • L20 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - General
    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General

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