Publication:
Funding vs. Real Economy Shock : The Impact of the 2007-2009 Crisis on Small Firms' Credit Availability

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dc.contributor.authorBerg, Gunhild
dc.contributor.authorKirschenmann, Karolin
dc.date.accessioned2012-04-27T07:44:06Z
dc.date.available2012-04-27T07:44:06Z
dc.date.issued2012-04
dc.description.abstractThis paper analyzes the impact of two distinct shocks stemming from the cross-border transmission of the 2007-2009 crisis on credit availability for small firms. The paper uses data from AccessBank Azerbaijan which was affected in its liquidity position during the second and third quarters of 2008 by delays in its refinancing. The Azeri real economy was hit by the global crisis from the fourth quarter of 2008 onwards with a combined decline in oil prices, exports, remittances, and domestic demand. Therefore, a pure supply side shock con be contrasted with a real economy shock that hit exactly when the bank's funding position strengthened again. The paper finds that during the funding shock (potential) borrowers are discouraged from applying for loans. However, for those applications made, the likelihood of loan approval is not affected. The real economy shock, in contrast, reduces the approval likelihood for SME loans in particular, while agro and micro loans are considerably less affected. Finally, bank relationships increase credit availability in good as well as in bad times.en
dc.identifierhttp://documents.worldbank.org/curated/en/2012/04/16212275/funding-vs-real-economy-shock-impact-2007-2009-crisis-small-firms -credit-availability
dc.identifier.doi10.1596/1813-9450-6030
dc.identifier.urihttps://hdl.handle.net/10986/6032
dc.languageEnglish
dc.publisherWorld Bank, Washington, DC
dc.relation.ispartofseriesPolicy Research Working Paper ; No. 6030
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.subjectACCOUNTING
dc.subjectAGRICULTURAL SECTOR
dc.subjectAPPROVAL RATE
dc.subjectAVAILABILITY OF CREDIT
dc.subjectBALANCE SHEET
dc.subjectBANK BRANCH
dc.subjectBANK CREDIT
dc.subjectBANK LENDING
dc.subjectBANK LIQUIDITY
dc.subjectBANKING ASSETS
dc.subjectBANKING SECTOR
dc.subjectBANKING SERVICES
dc.subjectBANKS
dc.subjectBOND
dc.subjectBOND ISSUE
dc.subjectBORROWER
dc.subjectBORROWING
dc.subjectBRANCHES
dc.subjectBUSINESS ACTIVITY
dc.subjectBUSINESS BORROWERS
dc.subjectBUSINESS FINANCES
dc.subjectBUSINESS LENDING
dc.subjectBUSINESS LOAN
dc.subjectBUSINESS LOAN APPLICATIONS
dc.subjectBUSINESS LOANS
dc.subjectCAPITAL LOANS
dc.subjectCAPITAL MARKETS
dc.subjectCENTRAL BANK
dc.subjectCHANNELS OF CREDIT
dc.subjectCOLLATERAL
dc.subjectCOMMODITY PRICE
dc.subjectCOMPETITIVE MARKETS
dc.subjectCONSUMER FINANCE
dc.subjectCORRUPTION
dc.subjectCREDIT ACCESS
dc.subjectCREDIT APPROVAL
dc.subjectCREDIT AVAILABILITY
dc.subjectCREDIT CONSTRAINTS
dc.subjectCREDIT CRUNCH
dc.subjectCREDIT PORTFOLIO
dc.subjectCREDIT PORTFOLIOS
dc.subjectCREDIT QUALITY
dc.subjectCREDIT RATIONING
dc.subjectCREDIT RISK
dc.subjectCROSS-BORDER BANKING
dc.subjectCURRENCY DEVALUATION
dc.subjectCURRENCY MISMATCHES
dc.subjectDEBT
dc.subjectDEBT SERVICING
dc.subjectDEFAULT RATES
dc.subjectDEPENDENT
dc.subjectDEPOSIT
dc.subjectDISBURSEMENT
dc.subjectDIVERSIFICATION
dc.subjectDUMMY VARIABLE
dc.subjectDUMMY VARIABLES
dc.subjectECONOMIC CONDITIONS
dc.subjectECONOMIC CRISIS
dc.subjectECONOMIC GROWTH
dc.subjectECONOMIC POLICY
dc.subjectECONOMIC SITUATION
dc.subjectEMERGING MARKET
dc.subjectEMERGING MARKET ECONOMIES
dc.subjectEMERGING MARKETS
dc.subjectENTERPRISE DEVELOPMENT
dc.subjectEXPANSION
dc.subjectEXTERNAL SHOCKS
dc.subjectFAMILIES
dc.subjectFARMERS
dc.subjectFEDERAL RESERVE
dc.subjectFEDERAL RESERVE BANK
dc.subjectFEMALE BORROWERS
dc.subjectFINANCIAL ANALYSIS
dc.subjectFINANCIAL CONSTRAINTS
dc.subjectFINANCIAL CONTAGION
dc.subjectFINANCIAL CRISES
dc.subjectFINANCIAL CRISIS
dc.subjectFINANCIAL DEVELOPMENT
dc.subjectFINANCIAL DISTRESS
dc.subjectFINANCIAL INSTITUTIONS
dc.subjectFINANCIAL INTEGRATION
dc.subjectFINANCIAL INTERMEDIATION
dc.subjectFINANCIAL LIBERALIZATION
dc.subjectFINANCIAL LITERACY
dc.subjectFINANCIAL MARKETS
dc.subjectFINANCIAL PERFORMANCE
dc.subjectFINANCIAL SERVICES
dc.subjectFINANCIAL SITUATION
dc.subjectFINANCIAL SYSTEMS
dc.subjectFIRM PERFORMANCE
dc.subjectFIRM SIZE
dc.subjectFIRST LOAN
dc.subjectFIXED ASSETS
dc.subjectFOREIGN BANK
dc.subjectFOREIGN BANK ENTRY
dc.subjectFOREIGN CURRENCY
dc.subjectFOREIGN CURRENCY RISK
dc.subjectFORMAL FINANCE
dc.subjectGENDER
dc.subjectGOOD BANK
dc.subjectHARD CURRENCY
dc.subjectHOLDING
dc.subjectHOUSEHOLDS
dc.subjectHOUSING
dc.subjectHOUSING PRICES
dc.subjectINCOME STREAMS
dc.subjectINDIVIDUAL ENTREPRENEURS
dc.subjectINDIVIDUAL LOAN
dc.subjectINFORMATION SYSTEM
dc.subjectINFORMATIONAL ASYMMETRIES
dc.subjectINTEREST RATE
dc.subjectINTERNATIONAL BANK
dc.subjectINTERNATIONAL BANK LENDING
dc.subjectINTERNATIONAL CAPITAL
dc.subjectINTERNATIONAL CAPITAL MARKETS
dc.subjectINTERNATIONAL DIVERSIFICATION
dc.subjectINTERNATIONAL ECONOMICS
dc.subjectINTERNATIONAL FINANCIAL INSTITUTIONS
dc.subjectINTERNATIONAL MARKETS
dc.subjectLARGE FIRMS
dc.subjectLENDER
dc.subjectLEVELS OF CREDIT
dc.subjectLEVELS OF DEBT
dc.subjectLINES OF CREDIT
dc.subjectLIQUIDITY
dc.subjectLIQUIDITY POSITION
dc.subjectLIQUIDITY PROBLEMS
dc.subjectLIQUIDITY SUPPORT
dc.subjectLOAN
dc.subjectLOAN AMOUNT
dc.subjectLOAN AMOUNTS
dc.subjectLOAN APPLICATION
dc.subjectLOAN APPLICATIONS
dc.subjectLOAN APPROVAL
dc.subjectLOAN APPROVAL RATES
dc.subjectLOAN CATEGORY
dc.subjectLOAN CHARACTERISTICS
dc.subjectLOAN CLIENTS
dc.subjectLOAN CONTRACT
dc.subjectLOAN DEMAND
dc.subjectLOAN MARKET
dc.subjectLOAN OFFICER
dc.subjectLOAN OFFICERS
dc.subjectLOAN PORTFOLIO
dc.subjectLOAN PRODUCT
dc.subjectLOAN REQUEST
dc.subjectLOAN REQUESTS
dc.subjectLOAN SIZES
dc.subjectLOAN TERMS
dc.subjectLOAN VOLUMES
dc.subjectLOCAL BANK
dc.subjectLOCAL CURRENCY
dc.subjectLOCAL MARKET
dc.subjectLOCAL MARKETS
dc.subjectMARKET ECONOMIES
dc.subjectMARKET SHARE
dc.subjectMARKETING STRATEGY
dc.subjectMATURITY
dc.subjectMEDIUM ENTERPRISES
dc.subjectMICRO BORROWERS
dc.subjectMICRO CREDIT
dc.subjectMICRO ENTREPRENEURS
dc.subjectMICRO FINANCE
dc.subjectMICRO LOAN
dc.subjectMICROENTERPRISES
dc.subjectMICROFINANCE
dc.subjectMICROFINANCE INSTITUTIONS
dc.subjectMICROFINANCE SECTOR
dc.subjectMIGRATION
dc.subjectMORTGAGE
dc.subjectMULTINATIONAL
dc.subjectMULTINATIONAL BANKS
dc.subjectNATURAL DISASTERS
dc.subjectNUMBER OF BANKS
dc.subjectOIL PRICES
dc.subjectPLEDGE COLLATERAL
dc.subjectPOOL OF BORROWERS
dc.subjectPORTFOLIO QUALITY
dc.subjectPOTENTIAL BORROWERS
dc.subjectPRIVATE CAPITAL
dc.subjectREAL ESTATE
dc.subjectREMEDY
dc.subjectREMITTANCES
dc.subjectREPAYMENT
dc.subjectREPAYMENT BEHAVIOR
dc.subjectRETURN
dc.subjectRETURN ON EQUITY
dc.subjectRISK FACTORS
dc.subjectRISK SHARING
dc.subjectRISKY BORROWERS
dc.subjectRURAL FINANCIAL INSTITUTIONS
dc.subjectSAVINGS
dc.subjectSAVINGS BANKS
dc.subjectSAVINGS PRODUCTS
dc.subjectSHAREHOLDERS
dc.subjectSMALL BUSINESS
dc.subjectSMALL BUSINESSES
dc.subjectSMALL ENTERPRISES
dc.subjectSMALL FIRMS
dc.subjectSME
dc.subjectSME CLIENTS
dc.subjectSME FINANCE
dc.subjectSME LENDING
dc.subjectSUPPLIERS
dc.subjectSUPPLY OF FINANCE
dc.subjectTRADE SECTOR
dc.subjectTRANSITION ECONOMIES
dc.subjectTRANSPARENCY
dc.subjectTRANSPORT
dc.subjectURBAN AREAS
dc.subjectVALUE OF COLLATERAL
dc.subjectWORKING CAPITAL
dc.titleFunding vs. Real Economy Shock : The Impact of the 2007-2009 Crisis on Small Firms' Credit Availabilityen
dspace.entity.typePublication
okr.crossref.titleFunding vs. Real Economy Shock: The Impact of the 2007-2009 Crisis on Small Firms' Credit Availability
okr.date.disclosure2012-04-01
okr.date.doiregistration2025-04-10T11:00:53.561646Z
okr.doctypePublications & Research::Policy Research Working Paper
okr.doctypePublications & Research
okr.docurlhttp://documents.worldbank.org/curated/en/2012/04/16212275/funding-vs-real-economy-shock-impact-2007-2009-crisis-small-firms -credit-availability
okr.globalpracticeFinance and Markets
okr.guid107711468168248451
okr.identifier.doi10.1596/1813-9450-6030
okr.identifier.externaldocumentum000158349_20120406110020
okr.identifier.internaldocumentum16212275
okr.identifier.reportWPS6030
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2012/04/06/000158349_20120406110020/Rendered/PDF/WPS6030.pdfen
okr.region.countryAzerbaijan
okr.topicFinance and Financial Sector Development::Microfinance
okr.topicFinance and Financial Sector Development::Debt Markets
okr.topicBanks and Banking Reform
okr.topicFinance and Financial Sector Development::Access to Finance
okr.topicFinance and Financial Sector Development::Bankruptcy and Resolution of Financial Distress
okr.unitDevelopment Research Group (DECRG)
okr.volume1 of 1
relation.isSeriesOfPublication26e071dc-b0bf-409c-b982-df2970295c87
relation.isSeriesOfPublication.latestForDiscovery26e071dc-b0bf-409c-b982-df2970295c87
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