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Monetary Tightening and Bank Financing of SME and Large Companies in Croatia

This paper presents and analyses the results of the survey of Croatian banks carried out by researchers of Faculty of Economics in the autumn of 2007. The empirical survey has been conducted as a part of the research project - Financial Policy and Financial and Economic Framework of SME Support in Croatia. The main objective of the research presented in this paper is to arrive at a better understanding how recent monetary tightening of Croatian National Bank influences credit policy of commercial banks towards SME and large companies. Our basic conclusion is that new monetary tightening will significantly influence corporate asses to bank credit. The influence on the SME should be more significant than on the large companies. Nevertheless, according to our results, the volume of the corporate lending should be at the levels achieved in 2006.

Monetary policy; bank credit; SME financing; large companies financing

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