Research Areas

The objective of this study is to analyze the effects of the economic crisis on the financial structure and financing conditions of firms in the Eurozone countries; in particular, the impact of the crisis on the restrictions upon the Spanish companies when accessing to external financing, especially from banks, as well as the differential effect of the crisis on the small and medium sized enterprises (SME). The analysis combines a macro approach —with aggregated data at country level— with a micro one at firm level.

In addition, it describes the evolution of the different ways of funding and their cost before and after the crisis, paying special attention to the impact of the crisis on the evolution of the access to bank credit. It also discusses the companies’ financial vulnerability as a result of their indebtedness and margins.