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Financial Crisis, Trade Finance, and SMEs : Case of Central Asia

Author

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  • Gloria O. Pasadilla

    (Asian Development Bank Institute)

Abstract

This paper surveys studies of the importance of Central Asian small- and medium-sized enterprises (SME) in the economy and their experience during the Russian financial crisis. It also uses survey data from the European Bank for Reconstruction and Developments Business Environment and Enterprise Performance Surveys to infer noteworthy characteristics, features, and dependencies on financing of Central Asian SMEs and, consequently, derive the potential impact of the crisis on the sector. The paper also assesses government support for SMEs and the necessary market reforms that will give a boost to the sectors development in the region.

Suggested Citation

  • Gloria O. Pasadilla, 2010. "Financial Crisis, Trade Finance, and SMEs : Case of Central Asia," Finance Working Papers 22924, East Asian Bureau of Economic Research.
  • Handle: RePEc:eab:financ:22924
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    File URL: http://www.eaber.org/node/22924
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    References listed on IDEAS

    as
    1. Gonzalo Pastor & Tatiana Damjanovic, 2003. "The Russian Financial Crisis and Its Consequences for Central Asia," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 39(3), pages 79-104, May.
    2. Kalyuzhnova, Yelena & Vagliasindi, Maria, 2006. "Capacity utilization of the Kazakhstani firms and the Russian financial crisis: A panel data analysis," Economic Systems, Elsevier, vol. 30(3), pages 231-248, October.
    3. Fingerand, K. Michael & Schuknecht, Ludger, 1999. "Trade, finance and financial crises," WTO Special Studies, World Trade Organization (WTO), Economic Research and Statistics Division, volume 3, number 3.
    4. Davide Furceri & Annabelle Mourougane, 2009. "Financial Crises: Past Lessons and Policy Implications," OECD Economics Department Working Papers 668, OECD Publishing.
    5. Auboin, Marc & Meier-Ewert, Moritz, 2003. "Improving the availability of trade finance during financial crises," WTO Discussion Papers 2, World Trade Organization (WTO), Economic Research and Statistics Division.
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    Cited by:

    1. Bahtiyor R. Eshchanov & Mona Grinwis Plaat Stultjes & Sanaatbek K. Salaev & Ruzumboy A. Eshchanov, 2011. "Rogun Dam—Path to Energy Independence or Security Threat?," Sustainability, MDPI, Open Access Journal, vol. 3(9), pages 1-20, September.

    More about this item

    Keywords

    SME; market reforms; central Asia; Government Policy; global financial crisis;

    JEL classification:

    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • G01 - Financial Economics - - General - - - Financial Crises
    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • G38 - Financial Economics - - Corporate Finance and Governance - - - Government Policy and Regulation

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