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Do credit constraints always impede innovation? Empirical evidence from Vietnamese SMEs

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  • Lan Thanh Archer
  • Parmendra Sharma
  • Jen-Je Su

Abstract

Intrigued by literature findings that credit constrained firms are less likely to be innovative and bearing in mind that the evidence has so far largely been from developed economies, this study ventures to explore the relationship in the case of a developing economy. Focussing on Vietnam, using a biennial survey-based dataset spanning the 2005–2013 period, with around 2,500 SMEs per round, and a mix of econometric strategies, the findings of the study shed a new light in the literature on credit constraints vis-à-vis innovation relationships: credit constraints may not always impede innovation. Implications are discussed.

Suggested Citation

  • Lan Thanh Archer & Parmendra Sharma & Jen-Je Su, 2020. "Do credit constraints always impede innovation? Empirical evidence from Vietnamese SMEs," Applied Economics, Taylor & Francis Journals, vol. 52(44), pages 4864-4880, September.
    • Handle: RePEc:taf:applec:v:52:y:2020:i:44:p:4864-4880
    DOI: 10.1080/00036846.2020.1751049
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    Cited by:

    1. Junbing Xu & Yuanyuan Li & Dawei Feng & Zhouyi Wu & Yang He, 2021. "Crowding in or crowding out? How local government debt influences corporate innovation for China," PLOS ONE, Public Library of Science, vol. 16(11), pages 1-20, November.
    2. Wang, Mei Ling, 2023. "Effects of the green finance policy on the green innovation efficiency of the manufacturing industry: A difference-in-difference model," Technological Forecasting and Social Change, Elsevier, vol. 189(C).
    3. Muhammad Arif & Mudassar Hasan & Ahmed Shafique Joyo & Christopher Gan & Sazali Abidin, 2020. "Formal Finance Usage and Innovative SMEs: Evidence from ASEAN Countries," JRFM, MDPI, vol. 13(10), pages 1-19, September.
    4. Manh-Tung Ho & Ngoc-Thang B. Le & Hung-Long D. Tran & Quoc-Hung Nguyen & Manh-Ha Pham & Minh-Hoang Ly & Manh-Toan Ho & Minh-Hoang Nguyen & Quan-Hoang Vuong, 2021. "A Systematic and Critical Review on the Research Landscape of Finance in Vietnam from 2008 to 2020," JRFM, MDPI, vol. 14(5), pages 1-24, May.
    5. Phu Nguyen-Van & Tuyen Tiet & Quoc Tran-Nam, 2024. "Synergy in environmental compliance, innovation and export on SMEs' growth," Working Papers hal-04441426, HAL.
    6. Mago, Stephen & Sewela Modiba, Florah, 2022. "Does informal finance matter for micro and small businesses in Africa?," Small Business International Review, Asociación Española de Contabilidad y Administración de Empresas - AECA, vol. 6(1), pages 415-415, March.
    7. Phan, Trang Hoai & Stachuletz, Rainer & Nguyen, Hai Thi Hong, 2022. "Export Decision and Credit Constraints under Institution Obstacles," Publications of Darmstadt Technical University, Institute for Business Studies (BWL) 132783, Darmstadt Technical University, Department of Business Administration, Economics and Law, Institute for Business Studies (BWL).
    8. Trang Hoai Phan & Rainer Stachuletz & Hai Thi Hong Nguyen, 2022. "Export Decision and Credit Constraints under Institution Obstacles," Sustainability, MDPI, vol. 14(9), pages 1-27, May.

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