譯文（字數 3103）：

歐洲零售銀行一體化對中小企業融資影響的概述

摘要

考慮到過去幾年中，歐洲聯盟（EU）已經成為世界上最有競爭力的綜合經濟區域之一，隨著它的快速發展出現了一系列的舉措。銀行和其他金融服務立法的協調統一是歐盟單一市場的重要組成部分，歐洲經濟和貨幣聯盟（EMU）的創新，與正在貫徹進行的金融服務行動計劃（FSAP）都表明了金融一體化的進一步實施，這有助于減少跨國貿易在銀行服務業的障礙。而放松管制是另一個因素，使得環境的技術和其他銀行的戰略決定因素變得越來越重要。

本文的范圍是分析了一個更高程度的銀行整合對企業融資的選擇和影響。本文由兩個主要部分組成。第一部分主要是對歐洲銀行業一體化的決定因素進行分析，這一分析是因為銀行體系是中小企業和家庭的主要金融渠道。第二部分集中于銀行整合對實體經濟的影響。結論性的言論，零售銀行的整合在論中小企業的信貸方面有一個模糊的含義。

關鍵詞：零售銀行一體化，中小企業，企業融資，金融約束，放松管制

外文原文（字符數 10451）：

The Implications of European Retail Banking 

Integration on Small and Medium-Sized 

Enterprises Financing. An Overview 

Anton Sorin Gabriel, Avadanei Andreea 

Abstract

Considering the last few years, the European Union (EU) has became one of the most competitive and integrated economic regions of the world, following a rapid pace of change as a result of an inspired series of initiatives. The harmonization of the banking and other financial services legislation as component of the EU’ Single Market, the creation of the European Economic and Monetary Union (EMU), alongside the ongoing implementation of the Financial Services Action Plan (FSAP) represent the central drivers of financial integration and the set of elements that have helped reducing the barriers to cross-border trade in banking services. The process of deregulation is another element that facilitated the environment in which technology and other bank strategic determinants have become increasingly important. 

The scope of the present paper is to analyze the implications of a higher degree of banking integration on firms financing options and choices. This paper is composed of two main parts. The first part focuses to the determinants of European banking integration, analyzing this process since the banking system represents the main financial channel for both the small and medium-sized enterprises and households. The second part concentrates on the effects of banking integration on considered entities’ financial constraints. The concluding remarks outline that retail bank integration has an ambiguous implication on SMEs’ access to credit. 

Keywords: retail banking integration, SMEs, firms’ financing, financial constraints, deregulation. 

JEL Classifications: G21, G32.