期刊
JOURNAL OF THE ASIA PACIFIC ECONOMY
卷 -, 期 -, 页码 -出版社
ROUTLEDGE JOURNALS, TAYLOR & FRANCIS LTD
DOI: 10.1080/13547860.2022.2109378
关键词
Credit constraints; generalised ordered probit; SMEs; Vietnam
类别
This study provides insights into the factors that affect the credit constraints of small and medium-sized enterprises in Vietnam. The results show that firm and owner characteristics play a significant role in these constraints, with some variations observed across different constraint categories.
This study aims to provide an understanding of factors that might affect three-level credit constraints of small and medium-sized enterprises (SMEs) in Vietnam, using data from the Vietnam's Manufacturing SME Survey database. We apply a random-effects generalised ordered probit model to accommodate two types of heterogeneity: unobserved individual heterogeneity and the heterogeneous effect of independent variables across three constraint categories. Results show that several firm and owner characteristics are in play. Several of these are indeed heterogeneous, such as varying across constraint categories, a new finding in the literature. A key contribution of this study is the use of a trinary rather than the usual binary approach to measure and more fully understand determinants of credit constraints in the case of small and medium-sized enterprises in Vietnam.
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