{"title":"LOAN DEMAND DURING THE COVID-19 PANDEMIC","authors":"Zana Beqiri Luma","doi":"10.1142/s1084946723500127","DOIUrl":null,"url":null,"abstract":"We analyze the effect of the COVID-19 outbreak on the demand for new loans across a nationally representative sample of over 10,000 firms in 45 countries. Loan demand decreases in response to the COVID-19 outbreak; however, this effect is heterogeneous across firms and countries. Small firms increase the demand for new loans whereas firms in economically more developed countries with better institutions make less loan applications following the start of the pandemic. Small firms face higher rejection rates resulting in less reliance on bank loans as a source of financing cash flow shortages. The implications of these findings together with future research directions are discussed.","PeriodicalId":46653,"journal":{"name":"Journal of Developmental Entrepreneurship","volume":null,"pages":null},"PeriodicalIF":1.3000,"publicationDate":"2023-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Journal of Developmental Entrepreneurship","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1142/s1084946723500127","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q3","JCRName":"BUSINESS","Score":null,"Total":0}
引用次数: 0
Abstract
We analyze the effect of the COVID-19 outbreak on the demand for new loans across a nationally representative sample of over 10,000 firms in 45 countries. Loan demand decreases in response to the COVID-19 outbreak; however, this effect is heterogeneous across firms and countries. Small firms increase the demand for new loans whereas firms in economically more developed countries with better institutions make less loan applications following the start of the pandemic. Small firms face higher rejection rates resulting in less reliance on bank loans as a source of financing cash flow shortages. The implications of these findings together with future research directions are discussed.
期刊介绍：
The Journal of Developmental Entrepreneurship (JDE) provides a forum for the dissemination of descriptive, empirical, and theoretical research that focuses on issues concerning microenterprise and small business development, especially under conditions of adversity. The intended audiences for JDE are scholars who study issues of developmental entrepreneurship and professionals involved in governmental and non-governmental efforts to facilitate entrepreneurship in economic and community development programs around the world. Articles will cover a broad range of topics, including: -Entrepreneurship and self-employment in developing contexts -Challenges and opportunities unique to minority and women entrepreneurs -Microenterprise funds and private-sector small business lending practices -Legislation, regulation, and tax policy that impact entrepreneurship and economic development -Processes that facilitate growth and development within emerging enterprises -Networks within and among entrepreneurial ventures -Marketing patterns and approaches in venture growth and development -International developmental entrepreneurship programs -Entrepreneurship in the informal economic sector -Education and training for aspiring entrepreneurs -Industry practices that adversely affect microenterprise development -Economic and social impacts of microenterprise activity
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