[ Les inégalités régionales d’accès au financement bancaire des TPME au Maroc ]
Volume 31, Issue 4, January 2021, Pages 923–930
Maroua Zouigui1
1 Professor of Higher Education EHTP, Casablanca, Morocco
Original language: French
Copyright © 2021 ISSR Journals. This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
The objective of this paper is to assess the strategy made by Morocco in terms of improving the access of SMEs to bank financing, particularly the reduction of regional inequalities. Thus, a model was estimated on a sample comprising 200 SMEs over the period 2005-2014. The financial constraints analyzed are the debt ratio, self-financing and the transparency. The results showed the persistence of disparities between regions in terms of access to bank financing. The SMEs located in the southern and eastern regions present notable constraints in accessing the credit market, unlike those located in the regions of Grand Casablanca, Rabat and the North. This inequality is mainly due to the specificities of the financial situation of the SMEs, as well as to the proximity of banking establishments which are concentrated in the central and northern regions. The consequences for these firms are the agency problems and information asymmetries as well as high additional financing costs.
Author Keywords: Financing constraints, Advanced regionalization, Investment, Information asymmetry, panel data.
Volume 31, Issue 4, January 2021, Pages 923–930
Maroua Zouigui1
1 Professor of Higher Education EHTP, Casablanca, Morocco
Original language: French
Copyright © 2021 ISSR Journals. This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
Abstract
The objective of this paper is to assess the strategy made by Morocco in terms of improving the access of SMEs to bank financing, particularly the reduction of regional inequalities. Thus, a model was estimated on a sample comprising 200 SMEs over the period 2005-2014. The financial constraints analyzed are the debt ratio, self-financing and the transparency. The results showed the persistence of disparities between regions in terms of access to bank financing. The SMEs located in the southern and eastern regions present notable constraints in accessing the credit market, unlike those located in the regions of Grand Casablanca, Rabat and the North. This inequality is mainly due to the specificities of the financial situation of the SMEs, as well as to the proximity of banking establishments which are concentrated in the central and northern regions. The consequences for these firms are the agency problems and information asymmetries as well as high additional financing costs.
Author Keywords: Financing constraints, Advanced regionalization, Investment, Information asymmetry, panel data.
Abstract: (french)
Ce travail a pour objectif d’évaluer les efforts consentis par le Maroc en matière d’amélioration de l’accès des TPME au financement bancaire dont particulièrement la réduction des inégalités régionales. Pour ce faire, un modèle a été estimée sur un échantillon comportant 200 TPME sur la période de 2005 à 2014. Les contraintes financières analysées se manifestent essentiellement par le taux d’endettement, l’autofinancement et la transparence. Les résultats ont montré la persistance des écarts entre les régions en termes d’accès au financement des entreprises, dans la mesure où les firmes logées dans les régions du Sud et l’Oriental, présentent des contraintes notables d’accès au marché de crédit, contrairement à celles implantées dans les régions du Grand Casablanca, de Rabat, et du Nord. Cette inégalité est due aux spécificités de la santé financière des entreprises, ainsi qu’au facteur de proximité des établissements bancaires qui demeurent concentrés dans les régions du centre et le Nord, ce qui engendrent des problèmes d’agence et asymétries d’information ainsi que des coûts de financements externes élevés.
Author Keywords: Contraintes de financement, Régionalisation avancée, Investissement, Asymétrie d’information, données de panel.
How to Cite this Article
Maroua Zouigui, “Regional inequalities in access to bank financing for SME in Morocco,” International Journal of Innovation and Applied Studies, vol. 31, no. 4, pp. 923–930, January 2021.
