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Are public credit guarantees worth the hype?

Author

Listed:
  • Abraham,Facundo
  • Schmukler,Sergio L.
  • Abraham,Facundo
  • Schmukler,Sergio L.

Abstract

Public credit guarantees have become a popular instrument to try to expand lending to financially constrained firms. In many instances, these schemes have proven useful to increase access to finance. However, public interventions to extend guarantees need to be designed, evaluated, and monitored properly. Otherwise, they could prove unnecessary or bring about important costs, such as increased moral hazard or implicit subsidies.

Suggested Citation

  • Abraham,Facundo & Schmukler,Sergio L. & Abraham,Facundo & Schmukler,Sergio L., 2017. "Are public credit guarantees worth the hype?," Research and Policy Briefs 121486, The World Bank.
    • Handle: RePEc:wbk:wbkrpb:121486
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    File URL: http://documents.worldbank.org/curated/en/431261511201811430/pdf/Are-public-credit-guarantees-worth-the-hype.pdf
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