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Access to Finance and Exports – Comparable Evidence for Small and Medium Enterprises from Industry and Services in 25 European Countries

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  • Joachim Wagner

    (Leuphana University Lueneburg)

Abstract

This study uses strictly comparable data for small and medium sized enterprises from industry or services in 25 European countries to test for links between credit restrictions and export activities of firms (participation in exports and share of exports in total sales). Data were collected in the Survey on Access to Finance of Enterprises (SAFE) conducted on behalf of the European Commission and the European Central Bank. Credit restrictions are measured by the importance of problems related to access to finance reported by the firms. Contrary to the big picture revealed by a comprehensive literature survey a statistically significant negative relationship between more severe problems in access to finance and exports is only rarely found.

Suggested Citation

  • Joachim Wagner, 2019. "Access to Finance and Exports – Comparable Evidence for Small and Medium Enterprises from Industry and Services in 25 European Countries," Open Economies Review, Springer, vol. 30(4), pages 739-757, September.
    • Handle: RePEc:kap:openec:v:30:y:2019:i:4:d:10.1007_s11079-019-09534-w
    DOI: 10.1007/s11079-019-09534-w
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    References listed on IDEAS

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    Cited by:

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    2. Saira Qasim & Marian Rizov & Xufei Zhang, 2021. "Financial constraints and the export decision of Pakistani firms," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 26(3), pages 4557-4573, July.
    3. Rossi, Stefania Patrizia Sonia & Bonanno, Graziella & Giansoldati, Marco & Gregori, Tullio, 2021. "Export starters and exiters: Do innovation and finance matter?," Structural Change and Economic Dynamics, Elsevier, vol. 56(C), pages 280-297.
    4. Lisana B. Martinez & M. Belén Guercio & Aurelio F. Bariviera, 2022. "A meta‐analysis of SMEs literature based on the survey on access to finance of enterprises of the European central bank," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 27(2), pages 1870-1885, April.
    5. Juan A. Máñez Castillejo & Oscar Vicente-Chirivella, 2019. "Exports of Spanish manufacturing firms and financial constraints," Working Papers 1921, Department of Applied Economics II, Universidad de Valencia.
    6. Kai Zhang & Dongyuan Liu, 2023. "Does Green Finance Promote Export Sophistication? An Analysis of the Moderating Effect Based on Green Taxes," Sustainability, MDPI, vol. 15(10), pages 1-18, May.
    7. Mansour Naser Alraja & Faris Alshubiri & Basel M. Khashab & Mahmood Shah, 2023. "The financial access, ICT trade balance and dark and bright sides of digitalization nexus in OECD countries," Eurasian Economic Review, Springer;Eurasia Business and Economics Society, vol. 13(2), pages 177-209, June.
    8. Shubin Yang & Chris Milner & Sandra Lancheros & Saileshsingh Gunessee, 2020. "Access to Finance, Technology Investments and Exporting Decisions of Indian Services Firms," Open Economies Review, Springer, vol. 31(5), pages 1009-1036, November.

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    More about this item

    Keywords

    Credit constraints; Access to finance; Exports; International comparison;
    All these keywords.

    JEL classification:

    • F14 - International Economics - - Trade - - - Empirical Studies of Trade

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