For example, SMEs interviewed for the ECB’s “Survey on the access to finance of small and medium-sized enterprises in the euro area” have consistently cited “finding customers” as their most pressing concern. This suggests that euro area corporations face serious problems on the demand side which seem to be more pressing than the problems stemming from the bank lending channel.
At the current juncture, nonetheless, the fact is that access to some markets, especially in the AEs, may become increasingly more difficult to obtain and preserve. In such a context, EMEs will need to consider options to broaden the scope of trade and to deepen its reach.