Access to Financing of SMEs in Argentina

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dc.contributor.authorPasquini, Ricardoes
dc.contributor.authorDe Giovanni, Martínes
dc.coverage.spatialArgentinaes
dc.date.accessioned2014-10-15T20:04:12Z
dc.date.available2014-10-15T20:04:12Z
dc.date.issued2010es
dc.description.tableofcontentsIn this paper, we examine SMEs in Argentina in search for a measurement of those who are credit constrained. We also estimate a model for the determinants of credit rejection taking into account those that are self-excluded. In addition to the 7 percent of SMEs that request credit from banks and face rejection, we find that there is at least a percentage of nearly 37 percent of SMEs that are self-excluded from the credit market, although they seem to be in need of external financing (by several indicators); while having profitable investment projects. We find that the size of firms, low levels of leverage, and an exporting condition, all increase the probability of being granted a bank credit. Surprisingly, we do not find a role for other financial statements based variables such as collaterals or cash flow in the explanation of bank’s approval/rejection decision. Even more surprising is the fact that neither of the balance sheet based variables help to explain the self-exclusion from bank credit. The self-exclusion from the credit market is strongly related with firms’ private expectations on the existence of profitable opportunities, and their needs/desire for external financing.EN
dc.identifier.citationPasquini, R., & De Giovanni, M. (2010). Access to Financing of SMEs in Argentina. CAF Working paper, 2010/08, Caracas: CAF. Retrieved from https://scioteca.caf.com/handle/123456789/212en_GB
dc.identifier.urihttps://scioteca.caf.com/handle/123456789/212
dc.language.isoenges
dc.publisherCAFes
dc.publisher.cityCaracases
dc.relation.ispartofseriesCAF Working paper, 2010/08es
dc.rightsCC-BY-NCes_ES
dc.rights.urihttp://creativecommons.org/licenses/by-nc/4.0/es_ES
dc.subjectBanca comercialES
dc.subjectInclusión FinancieraES
dc.subjectMiPymesES
dc.subjectPyMESes
dc.subjectSector financieroes
dc.subjectInvestigación socioeconómicaes
dc.subjectInclusión Financieraes
dc.subjectMiPymeses
dc.titleAccess to Financing of SMEs in Argentinaes
dc.typeworkingPaperes

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