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SME Financing and the Financial Crisis: A Framework and Some Issues

In: The Economics of Small Businesses

Author

Listed:
  • Gregory F. Udell

    (Indiana University at Bloomington)

Abstract

Studies of net job creation generally confirm the importance of the SME sector as an engine that can drive the economy out of a recession. The SME sector cannot perform this role without access to external finance. This article examines new paradigms that have expanded our understanding of how SME loans are underwritten and how underwriting changes during a macro financial shock. We also use these paradigms to examine two interesting issues related to SME financing during the current financial crisis: the behavior of foreign-owned banks particularly in developing economies and the efficacy of government guarantee programs.

Suggested Citation

  • Gregory F. Udell, 2011. "SME Financing and the Financial Crisis: A Framework and Some Issues," Contributions to Economics, in: Giorgio Calcagnini & Ilario Favaretto (ed.), The Economics of Small Businesses, chapter 0, pages 103-113, Springer.
    • Handle: RePEc:spr:conchp:978-3-7908-2623-4_6
    DOI: 10.1007/978-3-7908-2623-4_6
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