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A more complete conceptual framework for financing of small and medium enterprises Author info | Abstract | Publisher info | Download info | Related research | Statistics Berger, Allen N.
Udell, Gregory F.
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The authors propose a more complete conceptual framework for analysis of credit availability for small and medium enterprises (SMEs). In this framework, lending technologies are the key conduit through which government policies and national financial structures affect credit availability. They emphasize a causal chain from policy to financial structures which affect the feasibility and profitability of different lending technologies. These technologies, in turn, have important effects on SME credit availability. Financial structures include the presence of different financial institution types and the conditions under which they operate. Lending technologies include several transactions technologies, plus relationship lending. The authors argue that the framework implicit in most of the literature is oversimplified, neglects key elements of the chain, and often yields misleading conclusions. A common oversimplification is the treatment of transactions technologies as a homogeneous group, unsuitable for serving informationally opaque SMEs, and a frequent misleading conclusion is that large institutions are disadvantaged in lending to opaque SMEs.
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Paper provided by The World Bank in its series Policy Research Working Paper Series with number
3795.
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Date of creation: 01 Dec 2005Date of revision:
Handle: RePEc:wbk:wbrwps:3795Contact details of provider: Postal: 1818 H Street, N.W., Washington, DC 20433 Email: Web page: http://www.worldbank.org/ More information through EDIRC
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Keywords: Banks&Banking Reform ; Financial Intermediation ; Investment and Investment Climate ; Economic Theory&Research ; Financial Crisis Management&Restructuring ; Other versions of this item:
This paper has been announced in the following NEP Reports :
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Berger, Allen N. & Clarke, George R. G. & Cull, Robert & Klapper, Leora & Udell, Gregory F., 2005.
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3307, C.E.P.R. Discussion Papers.
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