The global financial crisis, which had its origins in the bursting of the real estate bubble in the USA, has affected the
confidence in the functionality of the modern banking and financial system. Such a situation poses the threat of a reduction
of credit supply, which can lead to an outright credit crunch. As a result of insufficient access to capital markets, small
and medium-sized enterprises would be particularly vulnerable to a credit crunch. In Austria, a section of small and medium-sized
enterprises has been hit by the decrease in demand and deterioration of financing conditions. However, this does not constitute
an overall credit crunch for small enterprises.
Keywords:Financial Market Crisis; Small and Medium-sized Enterprises; Financing SMEs
Forschungsbereich:Makroökonomie und öffentliche Finanzen