Resumen de Bank credit in Europe between two crises: from the Great Recession to the Covid-19 pandemic
Francisco del Olmo García, Fernando Javier Crecente Romero, María Sarabia Alegría, María Teresa del Val Núñez
Bank financing is one of the basic pillars of entrepreneurial activity, especially in the countries of the Eurozone, which show a high degree of bankarisation in their financial systems. However, the first two decades of the twentieth century have also brought the two worst economic crises in living memory since the Great Depression, two crises that stem from very different causes, but which also have totally different consequences in terms of their impact on the financing of SMEs in the euro area.It is, therefore, necessary to understand how bank credit has behaved in these two crises from a comparative perspective, not only on the demand side but also on the supply side, considering SMEs’ views on the financing environment, the volume and conditions of financing.
