The development of the Czech SME sector

Article Abstract:

The historic role of the small and medium-scale (SME) sector in the Czech Republic is explored. In the pre-World War II period, SMEs were a pivotal part of the economy. However, during the war and the first few years of leftist rule, the SME sector was slowly taken over by the state, as Marxist dogma was imposed on all aspects of the economy. By 1964, the sector had all but disappeared after communist orthodoxy was rigorously imposed. Following the Velvet Revolution of 1989 and the reestablishment of a market economy, the SME sector again regained its importance in the country's economy.

Economic Programs, Administration of Economic Programs, Czech Republic, Economic policy, Capitalism

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Trade credit and bank finance: financing small firms in Russia

Article Abstract:

The financial markets in Russia are better developed than most observers imagine. Russian firms, for example, are often able to access bank loans if they have already accessed the trade credit market. This was confirmed by a survey of 352 Russian firms which showed that firms with trade credits have a significantly higher chance of acquiring bank credit. One explanation for this lies in the apparent willingness of Russian banks to use trade finance as a proxy for financial soundness.

Commercial Banks, Commercial Banking, Business Financing, Russia, Financial markets, Credit, Bank loans

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Small businesses and liquidity constraints in financing business investment: evidence from Shanghai's manufacturing sector

Article Abstract:

Issues are presented concerning the higher costs of external finance associated with small businesses than with large businesses. The additional constraints of credit allocation practices in Shanghai, China, on small businesses are discussed.

China, Debt & Capital Management, Economic aspects, Finance, Capital investments, Economic indicators, Financial management, Shanghai, China

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