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Italian mutual guarantee funds and SME access to credit

Author

Listed:
  • Giorgio Calacgnini

    (Professore di Economia politica presso il Dipartimento di Economia, Società , Politica dell’Università di Urbino Carlo Bo)

Abstract

This article is based on the annual report of Federcofidi and analyzes the role of a sample of Italian mutual guarantee funds (confidi) in favoring SMEs to access bank credit. In particular, it analyzes the confidi efficacy and efficiency. It shows that, in recent years, SMEs that received individual guarantees by a confidi have a higher likelihood of obtaining bank loans. However, the confidi guarantees are still too much costly and, in many cases, do not generate enough income to cover the costs borne by the confidi.

Suggested Citation

  • Giorgio Calacgnini, 2018. "Italian mutual guarantee funds and SME access to credit," Argomenti, University of Urbino Carlo Bo, Department of Economics, Society & Politics, vol. 9(9), pages 1-16, January-A.
    • Handle: RePEc:urb:journl:v:9:y:2018:p:1-16
    DOI: 10.14276/1971-8357.1337
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    More about this item

    Keywords

    Mutual guarantee funds; SMEs; bank guarantees.;
    All these keywords.

    JEL classification:

    • G1 - Financial Economics - - General Financial Markets
    • G2 - Financial Economics - - Financial Institutions and Services
    • D22 - Microeconomics - - Production and Organizations - - - Firm Behavior: Empirical Analysis

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