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| Author: | Hutchinson, J. Xavier, A. |
| Title: | Comparing the impact of credit constraints on the growth of SMEs in a transition country with an established market economy |
| Journal: | Small business economics
2006 : SEP/OCT, VOL. 27, 2-3, p. 169-179 |
| Index terms: | market economy transition economies small and medium-sized enterprises (SMEs) growth finance credit Belgium Slovenia |
| Language: | eng |
| Abstract: | This paper compares the role of internal finance on the growth of firms btw. a leading transition country, Slovenia and an established market economy, Belgium. It is found that Slovenian firms are more sensitive to internal financing constraints than their Belgian counterparts. In addition, it is found that de novo firms and firms with long term debt are most constrained and that micro and SMEs can face great difficulties in accessing external sources of finance etc. The findings seem to indicate that although Slovenian firms are no longer recipients of soft budget constraints, the financial environment is not yet fully functional. |
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