Investment and Finance in De Novo Private Firms: Empirical Results form the Czech Republic, Hungary and Poland
In this paper we use a survey of 281 Czech, Hungarian and Polish newly established small private firms in order to shed some light on the constraints these firms face in the credit market. We show that financial intermediation works reasonably well: it is difficult to find signs of credit rationing and banks seems to be able to discriminate between good and bad firms. They protect themselves against the risk of a deteriorating pool of borrowers by requiring a collateral for their loans.
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|Date of creation:||1998|
|Date of revision:|
|Publication status:||Published in Economics of Transition, 2000, 8 (1)|
|Contact details of provider:|| Postal: 48 boulevard Jourdan - 75014 Paris|
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