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The Typology of Partial Credit Guarantee Funds Around the World
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In this article, the authors present data on 76 partial credit guarantee schemes across 46 developed and developing countries, focusing on the respective role of government and private sector and different pricing and risk reduction tools and how they are correlated across countries.Abstract:
This paper presents data on 76 partial credit guarantee schemes across 46 developed and developing countries. Based on theory, the authors discuss different organizational features of credit guarantee schemes and their variation across countries. They focus on the respective role of government and the private sector and different pricing and risk reduction tools and how they are correlated across countries. The findings show that government has an important role to play in funding and management, but less so in risk assessment and recovery. There is a surprisingly low use of risk-based pricing and limited use of risk management mechanisms.read more
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Bank lending constraints, trade credit and alternative financing during the financial crisis: Evidence from European SMEs
TL;DR: In this paper, the authors test whether bank lending constrained small and medium-sized enterprises are more likely to use or apply for alternative external finance including trade credit, informal lending, loans from other companies, market financing (issued debt or equity) and state grants.
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Entrepreneurship and Credit Constraints: Evidence from a French Loan Guarantee Program
TL;DR: In this article, the authors used information on a French loan guarantee program in order to assess the consequences of credit constraints for new ventures and found no effect, at the industry level, on creation rates.
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Risk management in SMEs: A systematic literature review and future directions
TL;DR: In this paper, the authors outline the development and the state of the art of risk management in SMEs, grasping new future research opportunities in this field, and conduct a systematic literature review with bibliometric tools.
Scaling-up SME access to financial services in the developing world
Ghada Teima,Alexander Berthaud,Miriam Bruhn,Olympia De Castro,Mukta Joshi,Melina Mirmulstein,Andrea Onate +6 more
TL;DR: In this paper, a stocktaking exercise confirms the rise in various parts of the world of specific business models aimed at providing financial services to SMEs in a cost-effective manner.
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The causal effect of credit guarantees for SMEs: evidence from Italy
Alessio D'Ignazio,Carlo Menon +1 more
TL;DR: In this article, the authors evaluate the effectiveness of a partial credit guarantee program implemented in a large Italian region using unique microdata from a broad set of firms and show that the policy was effective to the extent that it resulted in an improved financial condition for the beneficiary firms.
References
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Financial and Legal Constraints to Growth: Does Firm Size Matter?
TL;DR: In this article, the authors investigate the effect of financial, legal, and corruption problems on firms' growth rates and find that it is consistently the smallest firms that are most constrained.
Journal ArticleDOI
Small and medium-size enterprises: Access to finance as a growth constraint
Thorsten Beck,Asli Demirguc-Kunt +1 more
TL;DR: In this paper, the authors present recent research on access to finance by small and medium-size enterprises (SMEs) and show that small firms face larger growth constraints and have less access to formal sources of external finance, potentially explaining the lack of SMEs' contribution to growth.
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Do Lenders Favor Politically Connected Firms? Rent Provision in an Emerging Financial Market
Atif Mian,Asim Ijaz Khwaja +1 more
TL;DR: In this article, the authors examined the extent, nature, and economic costs of political rent provision in government banks and found that political firms borrow twice as much and have 50% higher default rates.
Journal ArticleDOI
Do Lenders Favor Politically Connected Firms? Rent Provision in an Emerging Financial Market
Asim Ijaz Khwaja,Atif Mian +1 more
TL;DR: In this paper, the authors examined the extent, nature, and economic costs of political rent provision in government banks and found that political firms borrow 45 percent more and have 50 percent higher default rates than private banks.
Journal ArticleDOI
Entry regulation as a barrier to entrepreneurship
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