Small and medium size enterprises, credit supply shocks, and economic recovery in Europe /:
"The limited access to bank credit in recent years has increased the pressure on small and medium size enterprises (SMEs), forcing them to scale down investment plans and production. This paper, which explores the macroeconomic implications of this channel, finds evidence that countries with hi...
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
[Washington, D.C.] :
International Monetary Fund,
©2014.
|
| Schriftenreihe: | IMF working paper ;
WP/14/98. |
| Schlagworte: | |
| Online-Zugang: | DE-862 DE-863 |
| Zusammenfassung: | "The limited access to bank credit in recent years has increased the pressure on small and medium size enterprises (SMEs), forcing them to scale down investment plans and production. This paper, which explores the macroeconomic implications of this channel, finds evidence that countries with high prevalence of SMEs tended to recover more slowly from the global financial crisis than their peers, implying that the interaction of the economic structure and access to bank financing plays a critical role in episodes of economic recovery. This conclusion is reinforced by a VAR estimation, which demonstrates that a negative credit supply shock applied to SMEs has an adverse effect on economic activity, and this impact is amplified in countries that have a high share of SMEs"--Abstract |
| Beschreibung: | "European Department"--Page 2 of pdf "June 2014"--Page 2 of pdf |
| Beschreibung: | 1 online resource (27 pages) : color illustrations |
| Bibliographie: | Includes bibliographical references. |
| ISBN: | 1498368085 9781498368087 |
Internformat
MARC
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| 245 | 1 | 0 | |a Small and medium size enterprises, credit supply shocks, and economic recovery in Europe / |c Nir Klein. |
| 260 | |a [Washington, D.C.] : |b International Monetary Fund, |c ©2014. | ||
| 300 | |a 1 online resource (27 pages) : |b color illustrations | ||
| 336 | |a text |b txt |2 rdacontent | ||
| 337 | |a computer |b c |2 rdamedia | ||
| 338 | |a online resource |b cr |2 rdacarrier | ||
| 490 | 1 | |a IMF working paper ; |v WP/14/98 | |
| 500 | |a "European Department"--Page 2 of pdf | ||
| 500 | |a "June 2014"--Page 2 of pdf | ||
| 520 | |a "The limited access to bank credit in recent years has increased the pressure on small and medium size enterprises (SMEs), forcing them to scale down investment plans and production. This paper, which explores the macroeconomic implications of this channel, finds evidence that countries with high prevalence of SMEs tended to recover more slowly from the global financial crisis than their peers, implying that the interaction of the economic structure and access to bank financing plays a critical role in episodes of economic recovery. This conclusion is reinforced by a VAR estimation, which demonstrates that a negative credit supply shock applied to SMEs has an adverse effect on economic activity, and this impact is amplified in countries that have a high share of SMEs"--Abstract | ||
| 504 | |a Includes bibliographical references. | ||
| 588 | 0 | |a Online resource; title from pdf title page (IMF.org Web site, viewed June 17, 2014). | |
| 505 | 0 | |a Cover; Contents; I. Introduction; Figures; Figure 1. SME: Shares in the Non-Fiscal Business Employment and Value Added, 2012; Figure 2. Spread Between Interest Rate on New Loan and Policy Rate; Figure 3. SMEs: Banks' Lending Standards; Figure 4. Value Added and Employment by Firm Size, EU27; Figure 5. The Change in Real Value Added and Employment, Non-Financial Business Sector, 2008-12; II. Economic Activity Since 2008 and the Prevalence of SMEs; Figure 6. The Prevalence of SMEs and Economic Recovery; Tables; Table 1. Prevalence of SMEs and Economic Recovery, 2002Q1-2012Q4, Specification A. | |
| 505 | 8 | |a Figure 7. Real GDP Growth in the EUTable 2. Prevalence of SMEs and Economic Recovery, 2002Q1-2012Q4, Specification B; III. The Macroeconomic Implications of Credit Supply Shocks to SMEs; Figure 8. Credit to the Private Non-Financial Corporations and the Prevalence of SMEs, 2008-12; Figure 9. Impulse Responses to Adverse Credit Supply Shock Applied to SMEs; Figure 10. Impulse Responses to Adverse Credit Supply Shock Applied to SMEs, Alternative Specifications; Figure 11. The Share of SMEs in the Non-Financoal Business Sector's Value Added. | |
| 505 | 8 | |a Figure 12. Cumulative Response of Real GDP Growth to Adverse Credit Supply Shock Faced by SMEsIV. Conclusions; References; Annexes. | |
| 650 | 0 | |a Small business |z Europe. | |
| 650 | 0 | |a Credit |z Europe. | |
| 650 | 0 | |a Recessions |z Europe. | |
| 650 | 0 | |a Global Financial Crisis, 2008-2009. |0 http://id.loc.gov/authorities/subjects/sh2009003683 | |
| 650 | 0 | |a Value added |z Europe. | |
| 650 | 0 | |a Financial crises |z Europe. |0 http://id.loc.gov/authorities/subjects/sh2007001674 | |
| 650 | 6 | |a Crédit |z Europe. | |
| 650 | 6 | |a Récessions |z Europe. | |
| 650 | 6 | |a Crise financière mondiale, 2008-2009. | |
| 650 | 6 | |a Valeur ajoutée |z Europe. | |
| 650 | 6 | |a Crises financières |z Europe. | |
| 650 | 7 | |a Credit |2 fast | |
| 650 | 7 | |a Financial crises |2 fast | |
| 650 | 7 | |a Recessions |2 fast | |
| 650 | 7 | |a Small business |2 fast | |
| 650 | 7 | |a Value added |2 fast | |
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Datensatz im Suchindex
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| _version_ | 1826942425162055680 |
| adam_text | |
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| author | Klein, Nir |
| author_GND | http://id.loc.gov/authorities/names/no2003122596 |
| author_facet | Klein, Nir |
| author_role | aut |
| author_sort | Klein, Nir |
| author_variant | n k nk |
| building | Verbundindex |
| bvnumber | localFWS |
| callnumber-first | H - Social Science |
| callnumber-label | HG3881 |
| callnumber-raw | HG3881.5.I58 W67 No. 14/98eb |
| callnumber-search | HG3881.5.I58 W67 No. 14/98eb |
| callnumber-sort | HG 43881.5 I58 W67 NO 214 298EB |
| callnumber-subject | HG - Finance |
| collection | ZDB-4-EBU |
| contents | Cover; Contents; I. Introduction; Figures; Figure 1. SME: Shares in the Non-Fiscal Business Employment and Value Added, 2012; Figure 2. Spread Between Interest Rate on New Loan and Policy Rate; Figure 3. SMEs: Banks' Lending Standards; Figure 4. Value Added and Employment by Firm Size, EU27; Figure 5. The Change in Real Value Added and Employment, Non-Financial Business Sector, 2008-12; II. Economic Activity Since 2008 and the Prevalence of SMEs; Figure 6. The Prevalence of SMEs and Economic Recovery; Tables; Table 1. Prevalence of SMEs and Economic Recovery, 2002Q1-2012Q4, Specification A. Figure 7. Real GDP Growth in the EUTable 2. Prevalence of SMEs and Economic Recovery, 2002Q1-2012Q4, Specification B; III. The Macroeconomic Implications of Credit Supply Shocks to SMEs; Figure 8. Credit to the Private Non-Financial Corporations and the Prevalence of SMEs, 2008-12; Figure 9. Impulse Responses to Adverse Credit Supply Shock Applied to SMEs; Figure 10. Impulse Responses to Adverse Credit Supply Shock Applied to SMEs, Alternative Specifications; Figure 11. The Share of SMEs in the Non-Financoal Business Sector's Value Added. Figure 12. Cumulative Response of Real GDP Growth to Adverse Credit Supply Shock Faced by SMEsIV. Conclusions; References; Annexes. |
| ctrlnum | (OCoLC)881462452 |
| dewey-full | 332.1 332.152 |
| dewey-hundreds | 300 - Social sciences |
| dewey-ones | 332 - Financial economics |
| dewey-raw | 332.1 332.152 |
| dewey-search | 332.1 332.152 |
| dewey-sort | 3332.1 |
| dewey-tens | 330 - Economics |
| discipline | Wirtschaftswissenschaften |
| era | 2008-2009 fast |
| era_facet | 2008-2009 |
| format | Electronic eBook |
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| id | ZDB-4-EBU-ocn881462452 |
| illustrated | Illustrated |
| indexdate | 2025-03-18T14:27:48Z |
| institution | BVB |
| institution_GND | http://id.loc.gov/authorities/names/n86100166 |
| isbn | 1498368085 9781498368087 |
| language | English |
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| series | IMF working paper ; |
| series2 | IMF working paper ; |
| spelling | Klein, Nir, author. http://id.loc.gov/authorities/names/no2003122596 Small and medium size enterprises, credit supply shocks, and economic recovery in Europe / Nir Klein. [Washington, D.C.] : International Monetary Fund, ©2014. 1 online resource (27 pages) : color illustrations text txt rdacontent computer c rdamedia online resource cr rdacarrier IMF working paper ; WP/14/98 "European Department"--Page 2 of pdf "June 2014"--Page 2 of pdf "The limited access to bank credit in recent years has increased the pressure on small and medium size enterprises (SMEs), forcing them to scale down investment plans and production. This paper, which explores the macroeconomic implications of this channel, finds evidence that countries with high prevalence of SMEs tended to recover more slowly from the global financial crisis than their peers, implying that the interaction of the economic structure and access to bank financing plays a critical role in episodes of economic recovery. This conclusion is reinforced by a VAR estimation, which demonstrates that a negative credit supply shock applied to SMEs has an adverse effect on economic activity, and this impact is amplified in countries that have a high share of SMEs"--Abstract Includes bibliographical references. Online resource; title from pdf title page (IMF.org Web site, viewed June 17, 2014). Cover; Contents; I. Introduction; Figures; Figure 1. SME: Shares in the Non-Fiscal Business Employment and Value Added, 2012; Figure 2. Spread Between Interest Rate on New Loan and Policy Rate; Figure 3. SMEs: Banks' Lending Standards; Figure 4. Value Added and Employment by Firm Size, EU27; Figure 5. The Change in Real Value Added and Employment, Non-Financial Business Sector, 2008-12; II. Economic Activity Since 2008 and the Prevalence of SMEs; Figure 6. The Prevalence of SMEs and Economic Recovery; Tables; Table 1. Prevalence of SMEs and Economic Recovery, 2002Q1-2012Q4, Specification A. Figure 7. Real GDP Growth in the EUTable 2. Prevalence of SMEs and Economic Recovery, 2002Q1-2012Q4, Specification B; III. The Macroeconomic Implications of Credit Supply Shocks to SMEs; Figure 8. Credit to the Private Non-Financial Corporations and the Prevalence of SMEs, 2008-12; Figure 9. Impulse Responses to Adverse Credit Supply Shock Applied to SMEs; Figure 10. Impulse Responses to Adverse Credit Supply Shock Applied to SMEs, Alternative Specifications; Figure 11. The Share of SMEs in the Non-Financoal Business Sector's Value Added. Figure 12. Cumulative Response of Real GDP Growth to Adverse Credit Supply Shock Faced by SMEsIV. Conclusions; References; Annexes. Small business Europe. Credit Europe. Recessions Europe. Global Financial Crisis, 2008-2009. http://id.loc.gov/authorities/subjects/sh2009003683 Value added Europe. Financial crises Europe. http://id.loc.gov/authorities/subjects/sh2007001674 Crédit Europe. Récessions Europe. Crise financière mondiale, 2008-2009. Valeur ajoutée Europe. Crises financières Europe. Credit fast Financial crises fast Recessions fast Small business fast Value added fast Europe fast https://id.oclc.org/worldcat/entity/E39PBJxCxPbbk4CPJDQJb4r6rq Global Financial Crisis (2008-2009) fast https://id.oclc.org/worldcat/entity/E39Qhp4vBbr3T8xBMDbJhDhGmm 2008-2009 fast International Monetary Fund. European Department, issuing body. http://id.loc.gov/authorities/names/n86100166 has work: Small and medium size enterprises, credit supply shocks, and economic recovery in Europe (Text) https://id.oclc.org/worldcat/entity/E39PCGW88DGgj8JrFQkV4CgJCP https://id.oclc.org/worldcat/ontology/hasWork IMF working paper ; WP/14/98. http://id.loc.gov/authorities/names/no89010263 |
| spellingShingle | Klein, Nir Small and medium size enterprises, credit supply shocks, and economic recovery in Europe / IMF working paper ; Cover; Contents; I. Introduction; Figures; Figure 1. SME: Shares in the Non-Fiscal Business Employment and Value Added, 2012; Figure 2. Spread Between Interest Rate on New Loan and Policy Rate; Figure 3. SMEs: Banks' Lending Standards; Figure 4. Value Added and Employment by Firm Size, EU27; Figure 5. The Change in Real Value Added and Employment, Non-Financial Business Sector, 2008-12; II. Economic Activity Since 2008 and the Prevalence of SMEs; Figure 6. The Prevalence of SMEs and Economic Recovery; Tables; Table 1. Prevalence of SMEs and Economic Recovery, 2002Q1-2012Q4, Specification A. Figure 7. Real GDP Growth in the EUTable 2. Prevalence of SMEs and Economic Recovery, 2002Q1-2012Q4, Specification B; III. The Macroeconomic Implications of Credit Supply Shocks to SMEs; Figure 8. Credit to the Private Non-Financial Corporations and the Prevalence of SMEs, 2008-12; Figure 9. Impulse Responses to Adverse Credit Supply Shock Applied to SMEs; Figure 10. Impulse Responses to Adverse Credit Supply Shock Applied to SMEs, Alternative Specifications; Figure 11. The Share of SMEs in the Non-Financoal Business Sector's Value Added. Figure 12. Cumulative Response of Real GDP Growth to Adverse Credit Supply Shock Faced by SMEsIV. Conclusions; References; Annexes. Small business Europe. Credit Europe. Recessions Europe. Global Financial Crisis, 2008-2009. http://id.loc.gov/authorities/subjects/sh2009003683 Value added Europe. Financial crises Europe. http://id.loc.gov/authorities/subjects/sh2007001674 Crédit Europe. Récessions Europe. Crise financière mondiale, 2008-2009. Valeur ajoutée Europe. Crises financières Europe. Credit fast Financial crises fast Recessions fast Small business fast Value added fast |
| subject_GND | http://id.loc.gov/authorities/subjects/sh2009003683 http://id.loc.gov/authorities/subjects/sh2007001674 |
| title | Small and medium size enterprises, credit supply shocks, and economic recovery in Europe / |
| title_auth | Small and medium size enterprises, credit supply shocks, and economic recovery in Europe / |
| title_exact_search | Small and medium size enterprises, credit supply shocks, and economic recovery in Europe / |
| title_full | Small and medium size enterprises, credit supply shocks, and economic recovery in Europe / Nir Klein. |
| title_fullStr | Small and medium size enterprises, credit supply shocks, and economic recovery in Europe / Nir Klein. |
| title_full_unstemmed | Small and medium size enterprises, credit supply shocks, and economic recovery in Europe / Nir Klein. |
| title_short | Small and medium size enterprises, credit supply shocks, and economic recovery in Europe / |
| title_sort | small and medium size enterprises credit supply shocks and economic recovery in europe |
| topic | Small business Europe. Credit Europe. Recessions Europe. Global Financial Crisis, 2008-2009. http://id.loc.gov/authorities/subjects/sh2009003683 Value added Europe. Financial crises Europe. http://id.loc.gov/authorities/subjects/sh2007001674 Crédit Europe. Récessions Europe. Crise financière mondiale, 2008-2009. Valeur ajoutée Europe. Crises financières Europe. Credit fast Financial crises fast Recessions fast Small business fast Value added fast |
| topic_facet | Small business Europe. Credit Europe. Recessions Europe. Global Financial Crisis, 2008-2009. Value added Europe. Financial crises Europe. Crédit Europe. Récessions Europe. Crise financière mondiale, 2008-2009. Valeur ajoutée Europe. Crises financières Europe. Credit Financial crises Recessions Small business Value added Europe |
| work_keys_str_mv | AT kleinnir smallandmediumsizeenterprisescreditsupplyshocksandeconomicrecoveryineurope AT internationalmonetaryfundeuropeandepartment smallandmediumsizeenterprisescreditsupplyshocksandeconomicrecoveryineurope |