2  See Fazzari, S., G. Hubbard and B. Petersen (1988), “Financing Constraints and Corporate Investment”, Brookings Papers on Economic Activity 1, 141-195 and Duchin, R., O. Ozbas and B. A. Sensoy, “Costly external finance, corporate investment, and the subprime mortgage credit crisis”, Journal of Financial Economics, Vol. 97, Issue 3, (2010), pp. 418–435.
3  Qualitative information on SME access to finance is extracted from the ECB’s biannual survey on access to finance of SMEs in the euro area (SAFE). See http://www.ecb.europa.eu/stats/money/surveys/sme /html/index.en.html.