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Small and Medium-sized Enterprises' Credit Rationing on the Tunisian Bank Credit Market

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  • Philippe Adair

    (ERUDITE - Equipe de Recherche sur l’Utilisation des Données Individuelles en lien avec la Théorie Economique - UPEM - Université Paris-Est Marne-la-Vallée - UPEC UP12 - Université Paris-Est Créteil Val-de-Marne - Paris 12)

  • Fredj Fhima

    (Institut des Hautes Etudes Commerciales de Sfax - Université de Sfax - University of Sfax)

Abstract

We use a disequilibrium model to estimate credit rationing to Small and Medium-sized Enterprises (SMEs) on the Tunisian bank credit market. Based on a panel dataset of 1,275 SMEs over the period 2001-2006, results show that the demand for bank credit is not determined by " endogenous " factors, i.e. the activity level and internal available resources of SMEs, but rather by " exogenous " factors, i.e. the cost of financing and guarantees required by banks. The latter, especially real guarantees, explain to a large extent the lack of bank lending and results in an average share of 80% — partially or totally — credit rationed SMEs.

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  • Philippe Adair & Fredj Fhima, 2014. "Small and Medium-sized Enterprises' Credit Rationing on the Tunisian Bank Credit Market," Post-Print hal-01667356, HAL.
    • Handle: RePEc:hal:journl:hal-01667356
    Note: View the original document on HAL open archive server: https://hal.science/hal-01667356
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    References listed on IDEAS

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    Cited by:

    1. Philippe Adair & Imène Berguiga, 2021. "A survey on funding MSMEs and female entrepreneurs in MENA countries and the microfinance issue," Erudite Working Paper 2021-12, Erudite.

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