Credit Constraints in Latin America: An Overview of the Micro Evidence

29 Pages Posted: 19 Apr 2011

See all articles by Arturo José Galindo

Arturo José Galindo

Inter-American Development Bank

Fabio Schiantarelli

Boston College - Department of Economics; IZA Institute of Labor Economics

Multiple version iconThere are 2 versions of this paper

Date Written: September 2002

Abstract

This paper summarizes and discusses new evidence on the nature, extent, evolution and consequences of financing constraints in Latin America; this evidence is drawn from a recent series of papers. The countries covered are Argentina, Colombia, Costa Rica, Ecuador, Mexico, and Uruguay. All the new contributions share the characteristics of being based on micro data. Most of the data sources are firms’ balance sheets. For Argentina information on debt contracts and credit history is also available, while for Costa Rica personal information on entrepreneurs was also collected. Some of the papers investigate the determinants of firms’ financing choices, and the consequences of access or debt composition on performance. Other papers attempt to assess the severity of financing constraints, by focusing on firms’ investment choices. All the papers (but one) were part of the project “Determinants and Consequences of Financial Constraints Facing Firms in Latin America and the Caribbean,” financed by the IADB. However, other recent micro-econometric contributions are discussed as well.

Suggested Citation

Galindo, Arturo José and Schiantarelli, Fabio, Credit Constraints in Latin America: An Overview of the Micro Evidence (September 2002). IDB Working Paper No. 180, Available at SSRN: https://ssrn.com/abstract=1814731 or http://dx.doi.org/10.2139/ssrn.1814731

Arturo José Galindo (Contact Author)

Inter-American Development Bank ( email )

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Washington, DC 20577
United States

Fabio Schiantarelli

Boston College - Department of Economics ( email )

140 Commonwealth Avenue
Chestnut Hill, MA 02467
United States
617-552-4512 (Phone)
617-552-2308 (Fax)

HOME PAGE: http://https://sites.google.com/a/bc.edu/fabio-schiantarelli/

IZA Institute of Labor Economics

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Bonn, D-53072
Germany

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