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The cost of business credit by firm category


  • F. Chai.
  • D-B.Nguyen.


SMEs have a different bank financing structure from that of large companies and thus do not enjoy the same financing conditions. This article examines the main factors that explain the interest rates on loans to SMEs and highlights the impact of the 2008 financial crisis on credit pricing policies.

Suggested Citation

  • F. Chai. & D-B.Nguyen., 2011. "The cost of business credit by firm category," Quarterly selection of articles - Bulletin de la Banque de France, Banque de France, issue 24, pages 5-28, Winter.
  • Handle: RePEc:bfr:quarte:2011:24:01

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    References listed on IDEAS

    1. Olivier J. Blanchard & Lawrence H. Summers, 1986. "Hysteresis and the European Unemployment Problem," NBER Chapters,in: NBER Macroeconomics Annual 1986, Volume 1, pages 15-90 National Bureau of Economic Research, Inc.
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    4. Christopher A. Pissarides & Barbara Petrongolo, 2001. "Looking into the Black Box: A Survey of the Matching Function," Journal of Economic Literature, American Economic Association, vol. 39(2), pages 390-431, June.
    5. Michael C. Burda & Jennifer Hunt, 2011. "What Explains the German Labor Market Miracle in the Great Recession," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 42(1 (Spring), pages 273-335.
    6. Alfonso ARPAIA & Nicola CURCI, "undated". "EU labour market behaviour during the Great Recession," Working Papers wp2010-6, Department of the Treasury, Ministry of the Economy and of Finance.
    7. René Fahr & Uwe Sunde, 2009. "Did the Hartz Reforms Speed-Up the Matching Process? A Macro-Evaluation Using Empirical Matching Functions," German Economic Review, Verein für Socialpolitik, vol. 10, pages 284-316, August.
    8. Blanchard, Olivier J. & Summers, Lawrence H., 1987. "Hysteresis in unemployment," European Economic Review, Elsevier, vol. 31(1-2), pages 288-295.
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    10. Klinger, Sabine & Rothe, Thomas, 2010. "The impact of labour market reforms and economic performance on the matching of short-term and long-term unemployed," IAB Discussion Paper 201013, Institut für Arbeitsmarkt- und Berufsforschung (IAB), Nürnberg [Institute for Employment Research, Nuremberg, Germany].
    11. Oliver Jean Blanchard & Peter Diamond, 1989. "The Beveridge Curve," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 20(1), pages 1-76.
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    Cited by:

    1. ., 2011. "Companies in France in 2010: a mixed picture," Quarterly selection of articles - Bulletin de la Banque de France, Banque de France, issue 24, pages 29-68, Winter.

    More about this item


    SME; financing; financial crisis.;

    JEL classification:

    • E43 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Interest Rates: Determination, Term Structure, and Effects
    • G30 - Financial Economics - - Corporate Finance and Governance - - - General
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages


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