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Schumpeter, J. A. (1934). The Theory of Economic Development—An Inquiry into Profits, Capital, Credit, Interest, and the Business Cycle. In Harvard Economic Studies 46. Harvard University Press. (Translated by Redvers Opie)

has been cited by the following article:

• TITLE: Innovative Activity and Access to Finance of SMEs: Views and Agenda

  AUTHORS: Ioannis Vlassas, Christos Kallandranis, Dimitris Anastasiou

  KEYWORDS: Information Asymmetry, Small Business Lending, Credit Rationing, Innovation, Survey Data

  JOURNAL NAME: Theoretical Economics Letters, Vol.13 No.1, February 9, 2023

  ABSTRACT: A rapidly growing body of research applies survey methods to examine the ability of SMEs to obtain external financing. These studies focus on firm-specific characteristics and demonstrate the impact of such ability on their own growth and overall economic growth, among other outcomes. However, the use of external financing is of crucial importance, especially whether SMEs can adopt innovation when they succeed in getting a loan. This paper reviews this literature that is not as extensive as the one focusing on typical investments with two purposes. First, we summarize recent work, providing a guide to its methodologies, datasets, and findings. Second, we consider applications of the literature in innovation, including insights for policymakers that seek to assess the potential economic effects of investments in innovation.