Why discouraged borrowers exist? An empirical (re)examination from less developed countries

被引：32

作者：

Matias Gama, Ana Paula ^{[1
]}

Duarte, Fabio Dias ^{[3
]}

Esperanca, Jose Paulo ^{[2
]}

机构：

[1] Univ Beira Interior, Management & Econ Dept, Res Unit Business Sci NECE, Estr Sineiro,Polo 4, P-6200209 Covilha, Portugal

[2] BRU UNIDE & ISCTE IUL Business Sch, Edificio 2,Av Prof Anibal Bettencourt, P-1600189 Lisbon, Portugal

[3] Inst Politecn Porto, ESTG Rua Curral, P-4610156 Margaride, Felgueiras, Portugal

来源：

EMERGING MARKETS REVIEW | 2017年 / 33卷

关键词：

Discouraged borrowers; Less developed countries; Self-selection; SMEs; SMALL BUSINESSES; CREDIT MARKET; FIRMS; BEHAVIOR; FINANCE; GROWTH; LOANS; SMES;

D O I：

10.1016/j.ememar.2017.08.003

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

Using the fourth-round database of the Business Environment and Enterprise Performance Survey (2008/09 BEEPS), this study examines the determinants of discouragement in less developed countries in Eastern Europe and Central Asia. The results show that whereas firms' opaqueness, demographic factors, and distance between lenders and borrowers better explain the discouragement due to tough loan prices and/or loan application procedures, firm risk and banking concentration explain the incidence of discouraged borrowers due to the fear of rationing. Innovator status, the legal protection of creditors and lenders in the event of default, and the coverage of information sharing instruments help explain discouragement in a transversal way. (C) 2017 Published by Elsevier B.V.

引用

页码：19 / 41

页数：23

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