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Do Microenterprises’ size and status matter to access informal finance?./ ¿El tamaño y el registro de las microempresas permite el acceso a los mercados financieros informales?

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  • Raccanello, Kristiano

    () (Colegio de Tlaxcala)

Abstract

Las microempresas (MEs) cuando no obtienen los recursos que requieren por parte del sector financiero formal pueden obtenerlos a través de otros intermediarios informales. En este artículo analizamos si las MEs, de acuerdo a su tamaño y estatus de registro ante las autoridades, utilizan el sector financiero informal. Con una muestra de 400 MEs de la ciudad de Puebla (Mexico) durante 2006, encontramos que tanto las MEs informales como las formales utilizan créditos informales pero, aunque el estatus de la MEs tenga relevancia per-se, las medianas MEs informales piden créditos a prestamistas y familiares/amigos. Debido que las MEs formales, sin importar su tamaño, también utilizan el mercado financiero informal, los resultados indican la falta de crédito para las MEs./ Formal microenterprises (MEs) when cannot obtain the resources they need through the formal financial sector may resort to other informal intermediaries. In this paper we analyze whether MEs, according to their size and registration, rely on informal financial lenders. Through a sample of 400 MEs drawn in the city of Puebla (Mexico) during 2006, we found that both informal and formal MEs resort to informal finance but, although MEs’ status matters per-se, informal middle sized MEs rely on moneylenders as well as on loans from family and friends. As formal MEs, no matter their size, seek for funding in the fringe financial market too, the results suggest that credit for MEs is scarce.

Suggested Citation

  • Raccanello, Kristiano, 2016. "Do Microenterprises’ size and status matter to access informal finance?./ ¿El tamaño y el registro de las microempresas permite el acceso a los mercados financieros informales?," Panorama Económico, Escuela Superior de Economía, Instituto Politécnico Nacional, vol. 12(23), pages 123-152, Segundo s.
  • Handle: RePEc:ipn:panora:v:12:y:2016:i:23:p:123-152
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    Keywords

    economía informal; finanzas informales; microempresas./ informal economy; informal finance; microenterprises; Mexico.;

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
    • O17 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Formal and Informal Sectors; Shadow Economy; Institutional Arrangements

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