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Political connectedness and formal finance in transition economies

Ruziev, Kobil

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Authors

Kobil Ruziev Kobil.Ruziev@uwe.ac.uk
Associate Professor in Economics Education



Abstract

Although small- and medium-sized enterprises (SMEs) represent more than 90% of all enterprises and play an important role in employment generation, they lack access to affordable formal finance. Conventionally, market failures and information imperfections are seen as major causes of this misallocation. However, the role of social and political factors in resource allocation, including access to formal finance, has recently become more widely accepted. Firm-level evidence from postcommunist economies, for example, shows that political connectedness improves access to bank credit, but is not associated with enterprise growth.

Citation

Ruziev, K. (2017). Political connectedness and formal finance in transition economies. https://doi.org/10.15185/izawol.398

Journal Article Type Article
Acceptance Date Oct 12, 2017
Publication Date Nov 7, 2017
Deposit Date Nov 7, 2017
Publicly Available Date Mar 28, 2024
Journal IZA World of Labor
Print ISSN 2054-9571
Peer Reviewed Peer Reviewed
Issue 398
Pages 1-11
DOI https://doi.org/10.15185/izawol.398
Keywords transition economies, formal finance, connectedness, firm-level analysis
Public URL https://uwe-repository.worktribe.com/output/878694
Publisher URL http://dx.doi.org/10.15185/izawol.398
Related Public URLs https://wol.iza.org/uploads/articles/398/pdfs/political-connectedness-and-formal-finance-in-transition-economies.pdf?v=1

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