Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/177777 
Authors: 
Year of Publication: 
2017
Citation: 
[Journal:] IZA World of Labor [ISSN:] 2054-9571 [Article No.:] 398 [Publisher:] Institute for the Study of Labor (IZA) [Place:] Bonn [Year:] 2017
Publisher: 
Institute for the Study of Labor (IZA), Bonn
Abstract: 
Although small- and medium-sized enterprises (SMEs) represent more than 90% of all enterprises and play an important role in employment generation, they lack access to affordable formal finance. Conventionally, market failures and information imperfections are seen as majorcauses of this misallocation. However, the role of social and political factors in resource allocation, including access to formal finance, has recently become more widely accepted. Firm-level evidence from post-communist economies, for example, shows that political connectedness improves access to bank credit, but is not associated with enterprise growth.
Subjects: 
transition economies
formal finance
connectedness
firm-level analysis
JEL: 
G38
P2
Persistent Identifier of the first edition: 
Document Type: 
Article

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