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Basel III Implementation and SME Financing : Evidence for Emerging Markets and Developing Economies / Boris Fisera.
World Bank Open Knowledge Repository (formerly "World Bank E-Library Publications") Available online
View online- Format:
- Book
- Government document
- Author/Creator:
- Fisera, Boris.
- Series:
- Policy research working papers.
- World Bank e-Library.
- Language:
- English
- Subjects (All):
- Bank Regulation.
- Basel III.
- Emerging Market Economies.
- Finance and Financial Sector Development.
- Financial Regulation.
- Financial Regulation and Supervision.
- Firm-Level Data.
- Impact Evaluation.
- Private Sector Development.
- Small and Medium Size Enterprises.
- Small And Medium-Sized Enterprises.
- SME Finance.
- Local Subjects:
- Bank Regulation.
- Basel III.
- Emerging Market Economies.
- Finance and Financial Sector Development.
- Financial Regulation.
- Financial Regulation and Supervision.
- Firm-Level Data.
- Impact Evaluation.
- Private Sector Development.
- Small and Medium Size Enterprises.
- Small And Medium-Sized Enterprises.
- SME Finance.
- Physical Description:
- 1 online resource (58 pages)
- Other Title:
- Basel III Implementation and SME Financing
- Place of Publication:
- Washington, D.C. : The World Bank, 2019.
- System Details:
- data file
- Summary:
- This paper examines the effect of Basel III implementation on the access to finance of small and medium-size enterprises in 32 emerging markets and developing economies. Analyzing rich, repeated cross-sectional data and a panel of matched firm-bank data in a difference-in-differences setting with sample selection adjustment, the authors find a short-term, moderately negative effect of Basel III on small and medium-size enterprises' access to financing. The results suggest that firms with access to bank credit prior to Basel III implementation could have been affected less than firms that were initially on the fringes of financial inclusion-firms with only a bank account. The paper fails to find any additional heterogeneous effects across firm size or age, bank capitalization or liquidity, or across countries that transitioned to Basel III from Basel II versus Basel 2.5. Overall, the initial conditions of the banking system as well as of complementary business and financial regulation can co-determine the size of short-term costs from the newly implemented global financial regulation in emerging markets and developing economies.
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