Bank-lending Constraints, Trade Credit and Alternative External Finance since the Financial Crisis: Evidence from European SMEs. ESRI Research Bulletin 2014/02/03

O'Toole, Conor and Casey, Eddie (2014) Bank-lending Constraints, Trade Credit and Alternative External Finance since the Financial Crisis: Evidence from European SMEs. ESRI Research Bulletin 2014/02/03. UNSPECIFIED.

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Abstract

Policy makers and researchers have been concerned about the availability of traditional bank credit since the recent financial crisis began. In particular, Small-and-Medium sized Enterprises (SMEs) have been subject to constraints in relation to accessing both working capital and investment financing. Considerable research has focused on the determinants of access to credit for SMEs. However, less work has been completed on the types of alternative finance that firms turn to when access to traditional lending channels is strained. Depending on the types of alternatives actually used, policy implications may vary.

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