Scandinavian Working Papers in Economics

Working Paper Series in Economics and Institutions of Innovation,
Royal Institute of Technology, CESIS - Centre of Excellence for Science and Innovation Studies

No 454: Access to financial intermediaries and external capital acquisition

Mikaela Backman () and Tina Wallin ()
Additional contact information
Mikaela Backman: Centre for Entrepreneurship and Spatial Economics (CEnSE), Jönköping International Business School, Sweden
Tina Wallin: Centre for Entrepreneurship and Spatial Economics (CEnSE), Jönköping International Business School, Sweden

Abstract: We examine whether low access to financial intermediaries works as an obstacle acquiring financial capital for Swedish firms by using information from the Community Innovation Survey indicating whether firms perceive the acquisition of external capital to be difficult. This perception is explained by the distance to the firms’ nearest financial intermediaries and their total local supply. The results indicate that the distance to banks is related to a larger problem of obtaining external financial capital in rural areas.

Keywords: financial capital; bank offices; geographical distance; Community Innovation Survey

JEL-codes: D53; G21; G23; L25; O31

26 pages, April 6, 2017

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