IDEAS home Printed from https://ideas.repec.org/a/prs/recofi/ecofi_0987-3368_2010_num_97_2_5407.html
   My bibliography  Save this article

Le financement des investissements en Tunisie : le rôle des banques est-il important ?

Author

Listed:
  • Mouldi Djelassi
  • Manel Mazioud
  • Dhafer Saïdane

Abstract

[eng] The Financing of Investments in Tunisia : Is the Role of Banks Important ? . Banks play an important role in economic development. They select companies that can benefit from public savings. The banking industry affects the path of economic growth through monetary creation and allocation of savings. Have Tunisian banks reached this stage of maturity to ensure a role for growth ? This is the question that the article tries to answer. We try to identify the role of banks in financing the economy. It examines the structure of the resources of non-financial firms and confirms the result of Chaari and Couppey-Soubeyran (2007). Indeed, the Tunisian financial system adopts a behavior still quite traditional and it is neither « Based Bank » or « Market Based ». Therefore, without financial reform considering a restructuring of banks in Tunisia, the Tunisian business financing will not change and will remain dominated by self-financing. . Classification JEL : G2, G21, G32. [fre] La banque joue un rôle essentiel dans le développement économique. Son rôle consiste, en particulier, à choisir les firmes qui pourront bénéficier de l’épargne publique. Le secteur bancaire agit donc sur le sentier d’expansion économique par l’intermédiaire de la création monétaire et de l’allocation de l’épargne. Les banques tunisiennes ont-elles atteint ce stade de maturité leur permettant d’assurer un rôle moteur de la croissance ? C’est à cette question que l’article tente de répondre. Il essaie de repérer le rôle des banques en matière de financement de l’économie, examine la structure des ressources des entreprises non financières et confirme le résultat de Chaari et Couppey-Soubeyran (2007). En effet, le système financier tunisien adopte encore un comportement assez traditionnel et il n’est ni « Bank Based » ni « Market Based ». Dès lors, sans une réforme financière envisageant une restructuration des banques en Tunisie, le actuel ne fera pas évoluer la structure de financement des entreprises tunisiennes. Elle restera dominée par l’autofinancement. . Classification JEL : G2, G21, G32.

Suggested Citation

  • Mouldi Djelassi & Manel Mazioud & Dhafer Saïdane, 2010. "Le financement des investissements en Tunisie : le rôle des banques est-il important ?," Revue d'Économie Financière, Programme National Persée, vol. 97(2), pages 309-326.
    • Handle: RePEc:prs:recofi:ecofi_0987-3368_2010_num_97_2_5407
    DOI: 10.3406/ecofi.2010.5407
    Note: DOI:10.3406/ecofi.2010.5407
    as

    Download full text from publisher

    File URL: https://doi.org/10.3406/ecofi.2010.5407
    Download Restriction: no
    File URL: https://www.persee.fr/doc/ecofi_0987-3368_2010_num_97_2_5407
    Download Restriction: no
    File URL: https://libkey.io/10.3406/ecofi.2010.5407?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Inès Chaari & Jézabel Couppey-Soubeyran, 2008. "La place des banques dans le financement de l’économie tunisienne," Revue d'Économie Financière, Programme National Persée, vol. 93(3), pages 297-317.
    2. Alexander, Ian & Mayer, Colin, 1990. "Banks and Securities Markets: Corporate Financing in Germany and the UK," CEPR Discussion Papers 433, C.E.P.R. Discussion Papers.
    3. Mayer, Colin & Alexander, Ian, 1990. "Banks and securities markets: Corporate financing in Germany and the United Kingdom," Journal of the Japanese and International Economies, Elsevier, vol. 4(4), pages 450-475, December.
    4. Demirguc-Kunt, Asli & Levine, Ross, 1999. "Bank-based and market-based financial systems - cross-country comparisons," Policy Research Working Paper Series 2143, The World Bank.
    5. Colin Mayer, 1990. "Financial Systems, Corporate Finance, and Economic Development," NBER Chapters, in: Asymmetric Information, Corporate Finance, and Investment, pages 307-332, National Bureau of Economic Research, Inc.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Sanjiva Prasad & Christopher J. Green & Victor Murinde, 2005. "Company Financial Structure: A Survey and Implications for Developing Economies," Chapters, in: Christopher J. Green & Colin Kirkpatrick & Victor Murinde (ed.), Finance and Development, chapter 12, Edward Elgar Publishing.
    2. Sanjiva Prasad & Christopher J. Green & Victor Murinde, 2001. "Company Financing, Captial Structure, and Ownership: A Survey, and Implications for Developing Economies," SUERF Studies, SUERF - The European Money and Finance Forum, number 12 edited by Morten Balling, May.
    3. Julia Koralun-Bereźnicka, 2014. "On the Relative Importance of Corporate Working Capital Determinants: Findings from the EU Countries," Contemporary Economics, University of Economics and Human Sciences in Warsaw., vol. 8(4), December.
    4. Nicola Cetorelli & Michele Gambera, 2001. "Banking Market Structure, Financial Dependence and Growth: International Evidence from Industry Data," Journal of Finance, American Finance Association, vol. 56(2), pages 617-648, April.
    5. Vitols, Sigurt, 1995. "Corporate governance versus economic governance: banks and industrial restructuring in the US and Germany," Discussion Papers, Research Unit: Economic Change and Employment FS I 95-310, WZB Berlin Social Science Center.
    6. Vitols, Sigurt, 1995. "Financial systems and industrial policy in Germany and Great Britain: the limits of convergence," Discussion Papers, Research Unit: Economic Change and Employment FS I 95-311, WZB Berlin Social Science Center.
    7. Howells, John, 2003. "Financial techniques, institutions and innovation," Working Papers 2003-3, University of Aarhus, Aarhus School of Business, Department of Management.
    8. Marc Goergen & Christine A. Mallin & Eve Mitleton-Kelly & Ahmed Al-Hawamdeh & Iris H-Y Chiu, 2010. "Corporate Governance and Complexity Theory," Books, Edward Elgar Publishing, number 13927.
    9. Goergen, M. & Renneboog, L.D.R. & Correia Da Silva, L., 2004. "Dividend policy of German firms : A dynamic panel analysis of partial adjustment models," Other publications TiSEM 64409bc5-8a76-467e-b19c-c, Tilburg University, School of Economics and Management.
    10. Bronwyn Hall & Jacques Mairesse, 1998. "Does Cash Flow cause Investment and R and D: An Exploration Using Panel Data for French, Japanese, and United States Scientific Firms," Economics Series Working Papers 1998-W08, University of Oxford, Department of Economics.
    11. Stiglitz, Joseph E., 2003. "Globalization and growth in emerging markets and the New Economy," Journal of Policy Modeling, Elsevier, vol. 25(5), pages 505-524, July.
    12. Buch, Claudia M., 1995. "The emerging financial systems of the Eastern European economics: A progress report," Kiel Working Papers 716, Kiel Institute for the World Economy (IfW Kiel).
    13. Irena Grosfeld, 1994. "Comparing Financial Systems. Problems of Information and Control in Economies in Transition," CASE Network Studies and Analyses 0026, CASE-Center for Social and Economic Research.
    14. Soskice, David, 1996. "German technology policy, innovation, and national institutional frameworks," Discussion Papers, Research Unit: Economic Change and Employment FS I 96-319, WZB Berlin Social Science Center.
    15. David Soskice, 1997. "German technology policy, innovation, and national institutional frameworks," Industry and Innovation, Taylor & Francis Journals, vol. 4(1), pages 75-96.
    16. Stiglitz, Joseph E., 2004. "Globalization and growth in emerging markets," Journal of Policy Modeling, Elsevier, vol. 26(4), pages 465-484, June.
    17. Fehr, Hans, 1999. "Welfare Effects of Dynamic Tax Reforms," Beiträge zur Finanzwissenschaft, Mohr Siebeck, Tübingen, edition 1, volume 5, number urn:isbn:9783161470165, September.
    18. Buch, Claudia M., 1993. "An institutional approach to banking reform in Eastern Europe," Kiel Working Papers 560, Kiel Institute for the World Economy (IfW Kiel).
    19. Simon Johnson & John McMillan, 2002. "Courts and Relational Contracts," The Journal of Law, Economics, and Organization, Oxford University Press, vol. 18(1), pages 221-277, April.
    20. Mark Lehrer, 1997. "German Industrial Strategy in Turbulence: Corporate Governance and Managerial Hierarchies in Lufthansa," Industry and Innovation, Taylor & Francis Journals, vol. 4(1), pages 115-140.

    More about this item

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • G2 - Financial Economics - - Financial Institutions and Services
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:prs:recofi:ecofi_0987-3368_2010_num_97_2_5407. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Equipe PERSEE (email available below). General contact details of provider: https://www.persee.fr/collection/ecofi .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.