01701cas a2200253 a 4500 AALejournalIMF014382 230101c9999 xx r poo 0 0eng d 5.00 USD 9781484379059 1018-5941 BD-DhAAL BD-DhAAL Ozturk, Bahar. SMEs' Access to Finance in the Euro Area : What Helps or Hampers? / Bahar Ozturk, Mico Mrkaic. Washington, D.C. : International Monetary Fund, 2014. 1 online resource (30 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students The monetary transmission mechanism in the euro area has been adversely affected by the recent crises. Using survey data on thousands of euro area firms, we study factors that affect the access to finance of SMEs. We find that changes in bank funding costs and borrower leverage matter for firms' access to finance. Increases in bank funding costs and borrowers' debt-to-asset ratios are significantly and negatively associated with firms' access to finance. The use of subsidies significantly improve access to finance of SMEs. Finally, access to finance is found to be positively related to firm size and firm age. Mode of access: Internet Mrkaic, Mico. IMF Working Papers; Working Paper ; No. 2014/078 Full text available on IMF http://elibrary.imf.org/view/journals/001/2014/078/001.2014.issue-078-en.xml IMF e-Library