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Access to finance for firms in Malta: Estimating the impact of reduced credit

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  • Sandra Zerafa

Abstract

This note looks at changes in the access to finance of firms over time. From a demand side, results from the Survey on the Access to Finance of Enterprises (SAFE) indicate that bank financing still remains the most used source. From a supply-side point of view, the Bank Lending Survey (BLS) indicates that Maltese banks have resorted to stricter credit conditions rather than quantity restrictions. The relationship between credit to NFCs and GDP growth appears to have weakened since the crisis, such that an increased level of credit has a smaller impact on real output. This may reflect structural changes in the Maltese economy that have taken place over the last decade.

Suggested Citation

  • Sandra Zerafa, "undated". "Access to finance for firms in Malta: Estimating the impact of reduced credit," CBM Policy Papers PP/03/2017, Central Bank of Malta.
    • Handle: RePEc:mlt:ppaper:0317
    as

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    File URL: https://www.centralbankmalta.org/file.aspx?f=61637
    File Function: First version, 2017
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    References listed on IDEAS

    as
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    3. Zsolt Darvas, 2014. "Can Europe recover without credit?," Society and Economy, Akadémiai Kiadó, Hungary, vol. 36(2), pages 129-149, June.
    4. Tsang, Eric W. K., 2014. "Old and New," Management and Organization Review, Cambridge University Press, vol. 10(03), pages 390-390, November.
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    More about this item

    JEL classification:

    • E51 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Money Supply; Credit; Money Multipliers
    • C5 - Mathematical and Quantitative Methods - - Econometric Modeling
    • G00 - Financial Economics - - General - - - General

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