Financial Crisis, Trade Finance, and SMEs: Case of Central Asia
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 Development’s 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 sector’s development in the region.
|Date of creation:||25 Jan 2010|
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- 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, November.
- Gonzalo C. Pastor & Tatiana Damjanovic, 2001. "The Russian Financial Crisis and its Consequences for Central Asia," IMF Working Papers 01/169, International Monetary Fund.
- 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.
- 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.
- Davide Furceri & Annabelle Mourougane, 2009. "Financial Crises: Past Lessons and Policy Implications," OECD Economics Department Working Papers 668, OECD Publishing.
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