First published on
20 July 2015
Discussion Paper 2

The Economic Impact of EU Guarantees on Credit to SMEs Evidence from CESEE Countries


This paper studies the economic effects of an EU credit guarantee scheme for SMEs in Central, Eastern and South-Eastern European countries between 2005 and 2012.


Pierfederico Asdrubali, Simone Signore

Information and identifiers

(Discussion Papers 2. July 2015. Brussels. PDF. 72pp. Tab. Graph. Ann. Bibliogr. Free.)

KC-BD-15-002-EN-N (online)
ISBN 978-92-79-48660-9 (online)
ISSN 2443-8022 (online)
doi: 10.2765/893611 (online)

JEL classification: O52, F33, E50, E63


Discussion Papers are written by the staff of the Directorate-General for Economic and Financial Affairs, or by experts working in association with them. The Papers are intended to increase awareness of the technical work being done by staff and to seek comments and suggestions for further analysis. The views expressed are the author’s alone and do not necessarily correspond to those of the European Commission.


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