Capital Markets Union and Small and Medium-sized Enterprises (SMEs): a Preliminary Assessment

Schammo, P.

Abstract

The Capital Markets Union is the European Commission’s latest policy initiative in the capital markets field. It is a project in the making. Much of it remains to be spelled out and fleshed out. However, the first elements of a future CMU are slowly beginning to emerge. The aim of this paper is to discuss these elements and to offer a first assessment. In particular, this paper aims to discuss the relationship between the CMU and one of its key objectives which has proved elusive in the past: that is, of facilitating access to finance for SMEs. In this process, the paper offers a number of suggestions on how to make progress on this crucial issue. Among other things, it advocates a form of supply side driven matchmaking as a means to improve information issues affecting SMEs in the SME funding market.

Citation

Schammo, P. (2015). Capital Markets Union and Small and Medium-sized Enterprises (SMEs): a Preliminary Assessment. In F. Allen, E. Carletti, & J. Gray (Eds.), The new financial architecture in the Eurozone (137-176). European University Institute. https://doi.org/10.2139/ssrn.2605549

• Publication Date: Jun 1, 2015
• Deposit Date: May 29, 2015
• Publicly Available Date: Aug 11, 2021
• Publisher: European University Institute
• Pages: 137-176
• Book Title: The new financial architecture in the Eurozone.
• ISBN: 9789290842972
• DOI: https://doi.org/10.2139/ssrn.2605549
• Public URL: https://durham-repository.worktribe.com/output/1670342
• Publisher URL: http://www.eui.eu/Projects/PierreWernerChair/Events/Eurozone2015.aspx
• Related Public URLs: https://doi.org/10.2139/ssrn.2605549
• Additional Information: Conference date: Thursday, April 23, 2015; Organised by The European University Institute (EUI) and the Brevan Howard Centre at Imperial College.
• Contract Date: May 29, 2015