We review the literature on financial constraints and the performance of small and medium enterprises (SMEs). We consider the important role that SMEs play in the economies of Australia and the Organisation for Economic Cooperation and Development. We examine the role of financial constraints in SME growth, with emphasis on business cycles and credit access. We discuss issues that SMEs face in accessing financial resources for expansion. We look at the literature that evaluates the impact of financial constraints on key outcomes: employment, productivity and wages. We review key policy debates and consider where government involvement might be appropriate.

中文翻译：

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金融约束与中小企业：回顾

我们回顾了有关财务约束和中小企业 (SME) 业绩的文献。我们认为中小企业在澳大利亚和经济合作与发展组织的经济中发挥着重要作用。我们研究了金融约束在中小企业增长中的作用，重点是商业周期和信贷准入。我们讨论了中小企业在获取财务资源进行扩张时面临的问题。我们查看了评估财务约束对关键结果的影响的文献：就业、生产力和工资。我们审查关键的政策辩论，并考虑政府参与可能适合的地方。