【正文】 interest for the academic literature, as witnessed by the large number of studies addressing such a problem. Numerous studies based on various surveys highlight that access to finance is one of the most important obstacles in the way of enterprises’ growth and development, especially in the case of small and medium enterprises. The study realised by Beck, DemirgucKunt, Laeven and Maksimovic (2020) reflects, based on a survey that has included firms from 80 countries, the fundamental factors to which depends the enterprises’ access to finance. Thus, the study highlights the relationship between the access to finance for enterprises and their characteristics, such as age, size and propriety structure. From this perspective, the authors find that young firms of small size as well as national ones face greater obstacles when they seek to obtain financial resources. The study also highlights the relationship between the degree of economic and financial development of a country (expressed through the degree of financial intermediation, the level of capital market development, the efficiency of the legal framework, the GDP per capita) and the access to finance for enterprises. From this point of view, the authors demonstrate that in the financial developed countries it can be accounted a decrease of the difficulties that the firms face when they try to obtain financing resources. Furthermore, the study concludes that the institutional development is the most important feature that explains the differences between countries in terms of financing obstacles faced by enterprises. Beck, Demirg252。安吉拉 “ 亞歷山伊萬 為了改善中小企業(yè)的融資環(huán)境 ,不同國家的公共機(jī)構(gòu)根據(jù)每 個(gè)國家的特殊性采取了一系列的措施 ,旨在 (國際金融公司 2020:26)改善法律及監(jiān)管結(jié)構(gòu) ,發(fā)展中小企業(yè)融資工具和直接干預(yù)市場(chǎng)促進(jìn)中小企業(yè)融資（例如，發(fā)放貸款，通過特定的國家機(jī)構(gòu)為企業(yè)家貸款提供擔(dān)保 ,提供財(cái)政撥款等。因此，獲得這種類型的貸款對(duì)中小企業(yè)的發(fā)展是至關(guān)重要的。 3．在中小企業(yè)融資過程中的問題 一般來說，獲 得金融產(chǎn)品或金融服務(wù)或金融包容性假定沒有貿(mào)易壁壘的方式利用金融產(chǎn)品或服務(wù) ,不管是否這些障礙或是不相關(guān)的定價(jià)（迪蒙瑞格 克魯特、貝克和霍諾根 2020： 2）。根據(jù)所采用的方法，指出了中小企業(yè)融資難問題和增強(qiáng)公共機(jī)構(gòu)的關(guān)注的重要性，尤其是為提高金融發(fā)展采取的措施。在中小企業(yè)所面臨的困境，獲得融資渠道往往是作為一個(gè)主要障礙部署和擴(kuò)大他們的活動(dòng)。從這個(gè)角度來看，作者發(fā)現(xiàn)年輕的公司規(guī)模小以及面臨更大的障礙時(shí)，他們尋求金融資源。另一方面，它可以區(qū)分非自愿拒絕企業(yè)，雖然這些企業(yè)需求但無法獲得財(cái)務(wù)或金融服務(wù)。企業(yè)的這種行為更加證明融資是企業(yè)發(fā)展的一個(gè)重要因素。例如，在歐盟 范圍，通過執(zhí)行小型企業(yè)管理局為歐洲設(shè)立的新措施來改善中小企業(yè)融資渠道，通過降低結(jié)構(gòu)基金回報(bào)的要求促進(jìn)中小企業(yè)的準(zhǔn)入，建立“信用監(jiān)察員”以促進(jìn)中小企業(yè)和信貸機(jī)構(gòu)之間的對(duì)話，避免稅收立法的雙重征稅，這將妨礙國際風(fēng)險(xiǎn)投資，起著重要的作用。231。 外文文獻(xiàn)出處 ： ① 作者 信息 ： Roman Angela “Alexandru Ioan Cuza” University of Iasi Faculty of Economics and Business Administration（ 羅馬 事實(shí)證明中小企業(yè)在國家的經(jīng)濟(jì)和社會(huì)的發(fā)展中具有關(guān)鍵性的作用，在大多數(shù)國家支持中小企業(yè)的發(fā)展已成為政府的主要目標(biāo)之一。 4． 中小企業(yè)銀行融資困難和支持措施 在大多數(shù)國家，尤其是在以銀行導(dǎo)向型金融體系的國家，中小企業(yè)外部融資的主要來源是由銀行貸款。此外，作者表明，中小企業(yè)的融資水平還取決于法律結(jié)構(gòu)和總體商業(yè)環(huán)境。本文分析了基于主要由世界銀行的調(diào)查提供的數(shù)據(jù)和統(tǒng)計(jì) ,在羅馬尼亞通過一定的實(shí)證研究中小民營企業(yè)。 本文旨在強(qiáng)調(diào)中小企業(yè)融資擔(dān)保所面臨的困難，強(qiáng)調(diào)國家之間差異以及中小企業(yè)和大型企業(yè)之間的差異。這項(xiàng)研究還強(qiáng)調(diào)一個(gè)國家的經(jīng)濟(jì)和金融發(fā)展之間的關(guān)系（表示通過一定程度的金融中介 ,一級(jí)資本市場(chǎng)的發(fā)展 ,效率的法律結(jié)構(gòu) ,人均國內(nèi)生產(chǎn)總值 )和為企業(yè)取得融資的渠道。企業(yè)自主融資或金融服務(wù)中出現(xiàn)的狀況在一些企業(yè)并未賺到足夠的資金或沒有融資機(jī)構(gòu)所要求的保障，因此具有較高的信用風(fēng)險(xiǎn)。此外，在當(dāng)前全球金融危機(jī)的背景下，由于銀行貸款的可用性下降導(dǎo)致中小企業(yè)融資機(jī)會(huì)有限。 特別是有實(shí)證的大量研究，強(qiáng)調(diào)影響一個(gè)國家金融發(fā)展程度至關(guān)重要的是中小企業(yè)融資的發(fā)展程度。Kunt and Maksimovic (2020) point based on a survey realised on firms from 54 countries that small and mediumsized enterprises are faced with financial and legal constraints and corruption issues in a much greater degree when pared with the large firms, thus the impact of these constraints on the firm growth is inversely proportional to the size of the firm. Moreover, the authors also noted that the financial and legal system development and the process of reducing corruption help to relax the constraints faced by small and mediumsized firms. Beck and DemirgucKunt (2020) highlight that access to finance is an important growth constraint for SMEs that financial and legal institutions play an important role in relaxing this constraint. The authors also noted that innovative financing instruments can help facilitate SMEs access to finance even in the absence of well developed institutions. Ardic, Mylenko and Saltane (2020) analyze, using statistical data, the macroeconomic and institutional factors that are influencing the SMEs’ financing through loans. Similar to other studies, the authors have found a positive correlation between the overall economic development (measured by ine per capita) and financial development (measured by the ratio of private credit to GDP), on the one hand, and the SMEs’ financing level, on the other side. Moreover, the authors demonstrate that the financing level of SMEs depends also on the legal framework and the overall business environment.. 3. The general framework regarding the obstacles in the financing process of the SMEs In general, the access to financial products/financial services or the financial inclusion assumes the absence of barriers in the way of using financ