In 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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Length: 20 pages Date of creation: 1998 Date of revision: Publication status: Published in Economics of Transition, 2000, 8 (1) Handle: RePEc:del:abcdef:98-19
Find related papers by JEL classification: G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Capital and Ownership Structure O52 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Europe
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