Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/100199
Authors: 
Gerlach-Kristen, Petra
O'Connell, Brian
O'Toole, Conor
Year of Publication: 
2013
Series/Report no.: 
Working Paper, The Economic and Social Research Institute (ESRI), Dublin 467
Abstract: 
This research attempts to answer two particular questions: a) what factors drive SME credit constraints in the Irish economy and b) what is the impact of such constraints on the macro-economy, in particular on employment and investment. We find that constraints decrease with firm size while there is variation by sector. Our results indicate that firms applying to foreign-owned banks are more likely to be constrained. We also identify a direct effect of debt overhang on access to credit. Linking constraints to the macro-economy, we find a negative and significant effect of SME credit constraints on employment, while no effect is evident on firm investment.
Subjects: 
Financial Crisis
Credit Constraints
Investment
Employment
SMEs
Document Type: 
Working Paper

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