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Credit constraints for SMEs in the Italian Mezzogiorno: which role for Mutual Loan-Guarantee Consortia?

Author

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  • F. Amaturo
  • L. Giordano
  • C. Petraglia

Abstract

This paper focuses on the perspective role of Mutual Loan-Guarantee Consortia (MLGC) in mitigating credit constraints for SMEs located in the Italian Mezzogiorno. First, we argue how the functioning of MLGC fits into the theory of bank-firm relationships, also referring to the scarce empirical evidence on the issue. Second, we evaluate the weakness - in terms of size, volume of activity, patrimonial requirements and guaranteed loans - of the Southern MLGC system. We then provide insights on the impact of the novelties introduced by the New Basel Capital Accord (Basel II) on MLGC's activity. Finally, we conclude for the need of public support to MLGC in the Mezzogiorno in order to enhance their function of facilitating the matching of demand and supply in the credit market.

Suggested Citation

  • F. Amaturo & L. Giordano & C. Petraglia, 2009. "Credit constraints for SMEs in the Italian Mezzogiorno: which role for Mutual Loan-Guarantee Consortia?," Rivista economica del Mezzogiorno, Società editrice il Mulino, issue 1-2, pages 27-70.
    • Handle: RePEc:mul:jqyfkm:doi:10.1432/29873:y:2009:i:1-2:p:27-70
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    Cited by:

    1. S. Dell'Atti & G. Mazzarelli & S. Sylos Labini, 2013. "How to Improve the Efficiency of Mutual Guarantee Institutions: an Analysis of the Economic and Institutional Profile of "Confidi Maggiori" in Southern Italy," Rivista economica del Mezzogiorno, Società editrice il Mulino, issue 3, pages 499-540.

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