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What Have We Learned from the Enterprise Surveys Regarding Access to Credit by SMEs?

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dc.contributor.authorKuntchev, Veselin
dc.contributor.authorRamalho, Rita
dc.contributor.authorRodriguez-Meza, Jorge
dc.contributor.authorYang, Judy S.
dc.date.accessioned2014-02-04T20:01:32Z
dc.date.available2014-02-04T20:01:32Z
dc.date.issued2013-10
dc.description.abstractUsing a unique firm level data set -- the Enterprise Surveys -- this paper develops a new measure of credit-constrained status for firms using hard data instead of perceptions data. The paper classifies firms into four ordinal categories: Not Credit Constrained, Maybe Credit Constrained, Partially Credit Constrained, and Fully Credit Constrained to understand the characteristics of the firms that fall into each group. Comparable data from the Enterprise Surveys for 116 countries are used to look at the relationship between firm size and credit-constrained status. First, the analysis finds that small and medium enterprises are more likely to be credit constrained (either partially or fully) than large firms. Furthermore, small and medium enterprises finance their working capital and investments mainly through trade credit and informal sources of finance. These two results hold to a large extent in all the regions of the developing world. Second, although size is a significant predictor of the probability of being credit constrained, firm age is not. Third, high-performing firms, as measured by labor productivity, are less likely to be credit constrained. This result applies to all firms but is not as strong for small firms as it is for large and medium firms. Finally, in countries with high private credit-to-gross domestic product ratios, firms are less likely to be credit constrained. Given the importance of access to credit for firm growth and efficiency, this paper confirms that throughout the developing world access to credit is inversely related to firm size but positively related to productivity and financial deepening in the country.en
dc.identifierhttp://documents.worldbank.org/curated/en/2013/10/18425135/learned-enterprise-surveys-regarding-access-credit-smes
dc.identifier.doi10.1596/1813-9450-6670
dc.identifier.urihttps://hdl.handle.net/10986/16885
dc.languageEnglish
dc.language.isoen_US
dc.publisherWorld Bank, Washington, DC
dc.relation.ispartofseriesPolicy Research Working Paper;No. 6670
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectACCESS TO CREDIT
dc.subjectACCESS TO EXTERNAL FINANCE
dc.subjectACCESS TO FINANCE
dc.subjectACCOUNTING
dc.subjectAFFILIATED ORGANIZATIONS
dc.subjectANNUAL SALES
dc.subjectBANK FINANCING
dc.subjectBANK LOAN
dc.subjectBANK LOANS
dc.subjectBUSINESS ENVIRONMENT
dc.subjectBUSINESS ENVIRONMENTS
dc.subjectCAPACITY UTILIZATION
dc.subjectCAPITAL FINANCE
dc.subjectCOLLATERAL
dc.subjectCOMPETITORS
dc.subjectCORPORATE FINANCE
dc.subjectCORRUPTION
dc.subjectCREDIT CONSTRAINED FIRMS
dc.subjectCREDIT CONSTRAINT
dc.subjectCREDIT MARKET
dc.subjectDEBT
dc.subjectDEBT FINANCE
dc.subjectDEPENDENT
dc.subjectDEPOSIT
dc.subjectDEPOSIT ACCOUNTS
dc.subjectECONOMIC ACTIVITY
dc.subjectEDUCATION LEVEL
dc.subjectEMPLOYERS
dc.subjectEMPLOYMENT
dc.subjectEQUITY FINANCE
dc.subjectEUROPEAN CENTRAL BANK
dc.subjectEXTERNAL CREDIT
dc.subjectEXTERNAL DEBT
dc.subjectEXTERNAL FINANCE
dc.subjectEXTERNAL FINANCING
dc.subjectFINANCIAL ACCESS
dc.subjectFINANCIAL CONSTRAINTS
dc.subjectFINANCIAL DEEPENING
dc.subjectFINANCIAL INSTITUTIONS
dc.subjectFINANCIAL INSTRUMENT
dc.subjectFINANCIAL INSTRUMENTS
dc.subjectFINANCIAL MARKETS
dc.subjectFINANCIAL SERVICES
dc.subjectFINANCING CONSTRAINTS
dc.subjectFINANCING OBSTACLES
dc.subjectFIRM PERFORMANCE
dc.subjectFIRM SIZE
dc.subjectFIRM SIZES
dc.subjectFIXED ASSETS
dc.subjectFOREIGN OWNERSHIP
dc.subjectFORMAL DEBT FINANCE
dc.subjectFORMAL WORKFORCE
dc.subjectGENDER
dc.subjectINFORMAL CREDIT
dc.subjectINFORMAL FINANCING
dc.subjectINTERNATIONAL BANK
dc.subjectJOB CREATION
dc.subjectLARGE FIRMS
dc.subjectLEVEL OF CREDIT
dc.subjectLEVELS OF CREDIT
dc.subjectLINE OF CREDIT
dc.subjectLIQUID ASSETS
dc.subjectLOAN APPLICATION
dc.subjectLOAN APPLICATIONS
dc.subjectMANDATE
dc.subjectMEDIUM ENTERPRISES
dc.subjectMEDIUM SIZE ENTERPRISES
dc.subjectMONEYLENDERS
dc.subjectMULTINATIONAL
dc.subjectNEW CREDIT
dc.subjectOUTSTANDING LOAN
dc.subjectPRIVATE CREDIT
dc.subjectPRODUCTIVITY
dc.subjectSAVINGS
dc.subjectSAVINGS ACCOUNT
dc.subjectSHAREHOLDING
dc.subjectSMALL BUSINESS
dc.subjectSMALL FIRM
dc.subjectSMALL FIRMS
dc.subjectSME
dc.subjectSOURCES OF CREDIT
dc.subjectSOURCES OF FINANCE
dc.subjectSUPPLIERS
dc.subjectTRADE CREDIT
dc.subjectTRANSPORT
dc.subjectWORKING CAPITAL
dc.subjectMicrodata Set
dc.subjectMicrodata Set
dc.titleWhat Have We Learned from the Enterprise Surveys Regarding Access to Credit by SMEs?en
dspace.entity.typePublication
okr.crossref.titleWhat Have We Learned from the Enterprise Surveys regarding Access to Credit by SMEs?
okr.date.disclosure2013-10-01
okr.date.doiregistration2025-04-10T11:44:39.561394Z
okr.doctypePublications & Research::Policy Research Working Paper
okr.doctypePublications & Research
okr.docurlhttp://documents.worldbank.org/curated/en/2013/10/18425135/learned-enterprise-surveys-regarding-access-credit-smes
okr.globalpracticeMacroeconomics and Fiscal Management
okr.globalpracticeFinance and Markets
okr.guid785801468148496192
okr.identifier.doi10.1596/1813-9450-6670
okr.identifier.externaldocumentum000158349_20131022135831
okr.identifier.internaldocumentum18425135
okr.identifier.reportWPS6670
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2013/10/22/000158349_20131022135831/Rendered/PDF/WPS6670.pdfen
okr.relation.associateddatasethttp://microdata.worldbank.org/index.php/catalog/464
okr.topicFinance and Financial Sector Development::Microfinance
okr.topicFinance and Financial Sector Development::Access to Finance
okr.topicFinance and Financial Sector Development::Bankruptcy and Resolution of Financial Distress
okr.topicBanks and Banking Reform
okr.topicMacroeconomics and Economic Growth::Investment and Investment Climate
okr.unitEnterprise Analysis Unit, Financial and Private Sector Development
okr.volume1 of 1
relation.isSeriesOfPublication26e071dc-b0bf-409c-b982-df2970295c87
relation.isSeriesOfPublication.latestForDiscovery26e071dc-b0bf-409c-b982-df2970295c87
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