The Determinants of Financing Obstacles
The authors use survey data on a sample of over 10,000 firms from 80 countries to assess (1) how successful a priori classifications are in distinguishing between financially constrained and unconstrained firms, and (2) more generally, the determin...
| Main Authors: | , , , |
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| Format: | Policy Research Working Paper |
| Language: | English en_US |
| Published: |
World Bank, Washington, DC
2013
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/2004/02/2953712/determinants-financing-obstacles http://hdl.handle.net/10986/13940 |
| Summary: | The authors use survey data on a sample
of over 10,000 firms from 80 countries to assess (1) how
successful a priori classifications are in distinguishing
between financially constrained and unconstrained firms, and
(2) more generally, the determinants of financing obstacles
of firms. They find that older, larger, and foreign-owned
firms report less financing obstacles. Their findings thus
confirm the usefulness of size, age, and ownership as a
priori classifications of financing constraints, while they
shed doubts on other classifications used in the literature.
Their results also suggest that institutional development is
the most important country characteristic explaining
cross-country variation in firms' financing obstacles. |
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