THE IMPACT OF THE 2008 GLOBAL CRISIS ON ACCESS TO FINANCE

HALIL D. KAYA
2016 Analele Universităţii Constantin Brâncuşi din Târgu Jiu : Seria Economie  
In this study, we examine the impact of the 2008 Global Crisis on access to finance. We use three measures of access to finance: "Number of bank branches per 100,000 adults", "Value traded of top 10 traded companies to total value traded (%)", and "Market capitalization outside of top 10 largest companies to total market capitalization (%)". We use non-parametric tests in our analyses. Our results show that in the run-up to the crisis and after the crisis, there was no significant change in any
more » ... of these three measures. However, during the crisis period, we find that "Value traded of top 10 traded companies to total value traded (%)" has gone up and this change is marginally significant. We do not find any impact on the other two measures during the crisis. We conclude that the global crisis only had a marginally significant impact on access to finance.
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