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Bank Loans And Small Firm Financing In Romania

Author

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  • Daniela Rodica Silivestru(Popescu)

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

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.

Suggested Citation

  • Daniela Rodica Silivestru(Popescu), 2012. "Bank Loans And Small Firm Financing In Romania," Annales Universitatis Apulensis Series Oeconomica, Faculty of Sciences, "1 Decembrie 1918" University, Alba Iulia, vol. 1(14), pages 1-15.
  • Handle: RePEc:alu:journl:v:1:y:2012:i:14:p:15
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    File URL: http://oeconomica.uab.ro/upload/lucrari/1420121/15.pdf
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    References listed on IDEAS

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    1. 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.
    2. 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.
    3. 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.
    4. 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.
    5. 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.
    6. Filipe Silva & Carlos Carreira, 2016. "The Role of Financial Constraints in the Services Sector: How Different is it from Manufacturing?," Notas Económicas, Faculty of Economics, University of Coimbra, issue 43, pages 21-41, June.
    7. Anjali Kumar & Manuela Francisco, 2005. "Enterprise Size, Financing Patterns, and Credit Constraints in Brazil : Analysis of Data from the Investment Climate Assessment Survey," World Bank Publications, The World Bank, number 7330.
    8. 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.
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    Citations

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    Cited by:

    1. Dan Costin NIȚESCU, 2015. "A new beginning for SMEs development?," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania - AGER, vol. 0(3(604), A), pages 39-52, Autumn.
    2. repec:agr:journl:v:3(604):y:2015:i:3(604):p:39-52 is not listed on IDEAS
    3. Giuca Simona-Mihaela, 2014. "Identifying Product And Price Strategies For Designing Transactional Banking Packages Addressed To Smes (Considerations)," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, vol. 1(1), pages 989-997, July.

    More about this item

    Keywords

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

    JEL classification:

    • G30 - Financial Economics - - Corporate Finance and Governance - - - General
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • E51 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Money Supply; Credit; Money Multipliers

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