000 02240nam a22003137u 4500
001 pwiiw3897
003 OSt
005 20260518120109.0
008 151008t2015 au ||||| |||| 00| ||eng d
040 _cOSt
041 _aeng
084 _aL25
_aD22
_aD53
_aO16
_aO57
_2jelc
100 1 _aLeitner, Sandra M.
245 1 0 _aFirm growth and financing constraints in the NMS-10 and the Western Balkan countries – a comparative analysis
260 _aWien :
_bWiener Institut für Internationale Wirtschaftsvergleiche (wiiw),
_c2015.
490 1 _awiiw Balkan Observatory Working Papers
_v115
520 _aAbstract The paper focuses on Emerging Europe and sheds light on the effects of different types of financing constraints on firm growth – both in terms of sales and employment -, before and after the onset of the global financial crisis. It analyzes and compares a large group of emerging economies, on the one hand (comprising all NMS-10 economies plus Turkey) and the group of economically and financially lagging Western Balkan countries, on the other, and demonstrates that financing constraints significantly obstruct firm growth, with interesting differences across growth indicators, type of financing constraints and economic periods considered. Moreover, it shows that during the pre-crisis period only, financial constraints were more harmful to employment growth of establishments located in the Western Balkans than in the NMS-10. It also highlights that growth is determined by particular establishment characteristics with product innovators or exporters only growing faster while older or larger establishments, importers only or foreign-owned establishments grow more slowly. Finally, it demonstrates that the state of the economy and the particular institutional environment are essential for establishment growth.
650 _afinancing constraints
650 _aestablishment growth
650 _aNMS-10
650 _aWestern Balkans
650 _afinancial crisis
651 _aNMS-10
651 _aWestern Balkans
690 _aMacroeconomic Analysis and Policy
830 0 _v115
_wWIIW0000140
_twiiw Balkan Observatory Working Papers
856 4 0 _uhttps://wiiw.ac.at/p-3897.html
942 _cP
_2z
999 _c8772
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