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Evaluation Of Smes Financing In Macedonia From The "Supply Side" Perspective

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  • Efimija Dimovska

    (FON University - Skopje, Faculty of Economics)

Abstract

The starting point of the research is the wide accepted evidence that the SME sector is one of the most important drivers of the economy in each country. In addition, many studies and research have concluded that access to finance remains to be a major concern and main obstacle for SMEs growth and development in developing countries. Bank loans are the main source of external financing of SMEs almost in all countries in the region, however, there are many factors as higher administrative costs and risks involved in lending to SMEs that reduce banks' willingness to lend to them. Therefore, many governments have acknowledged the importance of implementing various policies and programs aimed to support SMEs and their development, particularly in the time of global financial crises. However, the Government policies regarding this issue should be based on detail analysis of both, supply and demand side. The aim of this research is to provide an assessment of SME financing from the "supply side" i.e. from the banks' viewpoint. The method used for the research is a questionnaire based survey on five selected banks in Macedonia and on-site interviews with bank's officials.

Suggested Citation

  • Efimija Dimovska, 2013. "Evaluation Of Smes Financing In Macedonia From The "Supply Side" Perspective," Journal Articles, Center For Economic Analyses, pages 5-15, June.
    • Handle: RePEc:cmk:journl:y:2013:p:5-15
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    References listed on IDEAS

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    1. de la Torre, Augusto & Martínez Pería, María Soledad & Schmukler, Sergio L., 2010. "Bank involvement with SMEs: Beyond relationship lending," Journal of Banking & Finance, Elsevier, vol. 34(9), pages 2280-2293, September.
    2. Beck, Thorsten & Demirguc-Kunt, Asli & Laeven, Luc & Maksimovic, Vojislav, 2006. "The determinants of financing obstacles," Journal of International Money and Finance, Elsevier, vol. 25(6), pages 932-952, October.
    3. Thorsten Beck & Asli Demirgüç‐Kunt & Vojislav Maksimovic, 2005. "Financial and Legal Constraints to Growth: Does Firm Size Matter?," Journal of Finance, American Finance Association, vol. 60(1), pages 137-177, February.
    4. Beck, Thorsten & Demirguc-Kunt, Asli, 2006. "Small and medium-size enterprises: Access to finance as a growth constraint," Journal of Banking & Finance, Elsevier, vol. 30(11), pages 2931-2943, November.
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    1. Esho, Ebes & Verhoef, Grietjie, 2018. "The Funding Gap and the Financing of Small and Medium Businesses: An Integrated Literature Review and an Agenda," MPRA Paper 90153, University Library of Munich, Germany, revised 21 Nov 2018.

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