ACCESS TO MICROCREDIT AND ITS IMPACT ON THE PERFORMANCE OF SMALL AND MEDIUM-SIZED ENTERPRISES: A LITERATURE REVIEW / ACCES AU MICROCREDIT ET A SES IMPACT SUR LA PERFORMANCE DES PETITES ET ENTREPRISES DE TAILLE MOYENNE : UNE REVUE DE LA LITTÉRATURE
Abstract
Les petites et moyennes entreprises (PME) jouent un rôle crucial dans la croissance économique en créant des emplois, en générant des revenus et en stimulant la croissance. Cependant, l'accès au financement des PME est inférieur à celui des grandes entreprises, ce qui entrave la croissance et le développement des PME. Les limites des institutions financières formelles à fournir des crédits aux groupes à faibles revenus tels que les PME ont donné naissance aux programmes de microfinance. Ainsi, l'accès au microcrédit reste le défi majeur pour la plupart des PME. Dans ce contexte, cette étude vise à examiner les théories et pratiques pertinentes concernant les marchés du crédit, l'accessibilité et l'impact du microcrédit. Les PME sont limitées dans l'accès au crédit formel car les institutions financières n'accordent pas de crédit en raison de l'asymétrie de l'information, des coûts de traitement élevés et de l'insuffisance de garanties de valeur. Cet article passe également en revue les méthodologies d'évaluation d'impact et le problème de l'évaluation d'impact. Des études empiriques aient documenté un impact positif des programmes de microcrédit, les résultats ne sont pas concluants car les études négligent les problèmes économétriques de l'évaluation d'impact, c'est-à-dire le biais de sélection et l'endogénéité. Il est donc nécessaire d'évaluer l'impact du crédit sur la performance des PME mesurée par la croissance des ventes et de l'emploi.
Small and medium-sized enterprises (SMEs) play a crucial role in economic growth by creating jobs, generating income, and stimulating growth. However, access to finance for SMEs is lower than for large enterprises, which hinders the growth and development of SMEs. The limitations of formal financial institutions in providing credit to low-income groups such as SMEs have given rise to microfinance programs. Thus, access to microcredit remains the major challenge for most SMEs. In this context, this study aims to examine relevant theories and practices regarding credit markets, accessibility and the impact of microcredit. SMEs are limited in accessing formal credit because financial institutions do not extend credit due to information asymmetry, high processing costs, and insufficient collateral value. This paper also reviews impact assessment methodologies and the problem of impact assessment. While empirical studies have documented a positive impact of microcredit programs, the results are inconclusive because the studies neglect the impact of econometric evaluation, i.e. selection bias and endogeneity. It is therefore necessary to evaluate the impact of credit on the performance of SMEs as measured by sales and employment growth.
JEL: G2, O1, L2, O5
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DOI: http://dx.doi.org/10.46827/ejefr.v7i3.1535
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