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The typology of partial credit guarantee funds around the world

  • Beck, Thorsten
  • Klapper, Leora F.
  • Mendoza, Juan Carlos

This paper presents data on 76 partial credit guarantee schemes across 46 developed and developing countries. Based on theory, we discuss different organizational features of credit guarantee schemes and their variation across countries. We focus on the respective role of government and private sector and different pricing and risk reduction tools and how they are correlated across countries. We find 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.

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File URL: http://www.sciencedirect.com/science/article/pii/S1572-3089(09)00003-5
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Article provided by Elsevier in its journal Journal of Financial Stability.

Volume (Year): 6 (2010)
Issue (Month): 1 (April)
Pages: 10-25

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Handle: RePEc:eee:finsta:v:6:y:2010:i:1:p:10-25
Contact details of provider: Web page: http://www.elsevier.com/locate/jfstabil

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  1. Edward J. Kane & Asli Demirguc-Kunt, 2001. "Deposit Insurance Around the Globe: Where Does it Work?," NBER Working Papers 8493, National Bureau of Economic Research, Inc.
  2. Maitreesh Ghatak & Timothy W. Guinnane, 1998. "The Economics of Lending with Joint Liability: Theory and Practice," Working Papers 791, Economic Growth Center, Yale University.
  3. Beck, T.H.L. & Demirgüc-Kunt, A. & Laeven, L. & Maksimovic, V., 2006. "The determinants of financing obstacles," Other publications TiSEM 3fd6bd22-71e9-4084-87a3-1, Tilburg University, School of Economics and Management.
  4. Arping, Stefan & Lóránth, Gyöngyi & Morrison, Alan D., 2010. "Public initiatives to support entrepreneurs: Credit guarantees versus co-funding," Journal of Financial Stability, Elsevier, vol. 6(1), pages 26-35, April.
  5. Asim Ijaz Khwaja & Atif Mian, 2005. "Do Lenders Favor Politically Connected Firms? Rent Provision in an Emerging Financial Market," The Quarterly Journal of Economics, Oxford University Press, vol. 120(4), pages 1371-1411.
  6. Beck, Thorsten & de la Torre, Augusto, 2006. "The basic analytics of access to financial services," Policy Research Working Paper Series 4026, The World Bank.
  7. Zia, Bilal H., 2008. "Export incentives, financial constraints, and the (mis)allocation of credit: Micro-level evidence from subsidized export loans," Journal of Financial Economics, Elsevier, vol. 87(2), pages 498-527, February.
  8. Columba, Francesco & Leonardo, Gambacorta & Paolo Emilio, Mistrulli, 2008. "Firms as monitor of other firms: mutual guarantee institutions and SME finance," MPRA Paper 14032, University Library of Munich, Germany.
  9. C. Lelarge & D. Sraer & D. Thesmar, 2008. "Entrepreurship and Credit Constraints - Evidence from a French Loan Guarantee Program," Documents de Travail de la DESE - Working Papers of the DESE g2008-07, Institut National de la Statistique et des Etudes Economiques, DESE.
  10. Patrick Honohan, 2008. "Partial Credit Guarantees: Principles and Practice," The Institute for International Integration Studies Discussion Paper Series iiisdp244, IIIS.
  11. Beck, Thorsten & Demirguc-Kunt, Asli, 2006. "Small and medium-size enterprises: Access to finance as a growth constraint," Journal of Banking & Finance, Elsevier, vol. 30(11), pages 2931-2943, November.
  12. Adasme, Osvaldo & Majnoni, Giovanni & Uribe, Myriam, 2006. "Access and risk - friends or foes? Lessons from Chile," Policy Research Working Paper Series 4003, The World Bank.
  13. Klapper, Leora & Laeven, Luc & Rajan, Raghuram, 2006. "Entry regulation as a barrier to entrepreneurship," Journal of Financial Economics, Elsevier, vol. 82(3), pages 591-629, December.
  14. Beck, Thorsten & Demirguc-Kunt, Asli & Maksimovic, Vojislav, 2002. "Financial and legal constraints to firm growth - Does size matter?," Policy Research Working Paper Series 2784, The World Bank.
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