new III Workshop on Economics of the Mediterranean, Barcelona June 26 - 27.
Preliminary program!
 

Recent comment from a young Tunisian research economist:
"I am persuaded that the community of researchers interested by the MENA economies need the kind of structure and focal point that is the CREMed."

arrow-right CREMed ANNUAL REPORT 2011

Papers from two recently completed CREMed Research Projects: International trade, transport and the environment in the Euro-Med Area  and Moroccans’ Assimilation in Spain: Family-Based versus Labor-Based Migration are now available in the CREMed Working Paper Series.

Research

 lebanon seaview
Lebanon

Working Papers #11


silver-starWinner of the first CREMed Best Student Paper Award



 
Title:

The Determinants of Expansion of SMEs under a Partial Credit Guarantee Scheme: The Case of Lebanon
Author:
by Serena Canaan
Date:
December 2011 
Keywords:
Credit guarantee, SMEs, Lebanon
JEL codes:
G32, G2, G01

Abstract:

The aim of this paper is to assess the impact of the Lebanese credit guarantee scheme (Kafalat). We will test whether or not Kafalat is able to establish a continuous lending relationship with its clients. The study relies on an exceptional dataset of 6,888 loan guarantee applications, which we are the first to have access to. The dataset, which Kafalat has made available to us, contains all applications for loan guarantees received by Kafalat since its establishment in 2000 until December 2009.

We are unable to find evidence of a continuous lending relationship between Kafalat and its clients. We also determine that, even among repeat customers, multiple borrowing is not due to the establishment of a continuous relationship with Kafalat but simply an extension of previous loans.
 


Download this paper in a PDF file

Note: The CREMed Best Student Paper Award activity is part of the programme “Promoting mutual awareness, understanding and cooperation between the European Union (EU) and the European Neighbourhood Region (South)” (Europe- Aid/125411/ACT/C/Multi- Lot3),co-funded by the European Neighbourhood and Partnership Instrument (ENPI) regional track and the European Institute of the Mediterranean (IEMed).The contents of this report are the sole responsibility of the author and can in no way be taken to reflect the views of the European Union or the CREMed.