Keywords: Default risk
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Journal Articles
Studies in Economics and Finance (2017) 34 (3): 302–330.
Published: 07 August 2017
... to SMEs’ projects. This situation is even more frightening in newly emerged countries like Pakistan where more than 80 per cent SMEs are facing higher default risk during initial business years (Jasra et al., 2011). Development Finance Review (2014) issued by the State Bank of Pakistan has also...

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