Small and Medium-sized Enterprises' Credit Rationing on the Tunisian Bank Credit Market

Abstract : We use a disequilibrium model to estimate credit rationing to Small and Medium-sized Enterprises (SMEs) on the Tunisian bank credit market. Based on a panel dataset of 1,275 SMEs over the period 2001-2006, results show that the demand for bank credit is not determined by " endogenous " factors, i.e. the activity level and internal available resources of SMEs, but rather by " exogenous " factors, i.e. the cost of financing and guarantees required by banks. The latter, especially real guarantees, explain to a large extent the lack of bank lending and results in an average share of 80% — partially or totally — credit rationed SMEs.
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Philippe Adair, Fredj Fhima. Small and Medium-sized Enterprises' Credit Rationing on the Tunisian Bank Credit Market. Journal of Economics and Development Studies, 2014, 2 (1), pp.81-97. ⟨http://jedsnet.com/journals/jeds/Vol_2_No_1_March_2014/4.pdf⟩. ⟨hal-01667356⟩

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