A more complete conceptual framework for financing of small and medium enterprises /

A more complete conceptual framework for financing of small and medium enterprises /

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Bibliographic Details
Author / Creator:	Berger, Allen N.
Imprint:	Washington, D.C. : World Bank, Development Research Group, Finance Team, 2005.
Description:	29 p. ; 28 cm.
Language:	English
Series:	Policy research working paper ; 3795 Policy research working papers ; 3795.
Subject:	Small business -- Finance. Commercial credit -- Government policy. Commercial credit -- Government policy. Small business -- Finance.
Format:	E-Resource Print Book
URL for this record:	http://pi.lib.uchicago.edu/1001/cat/bib/5885913

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Other authors / contributors:	Udell, Gregory F., 1946- World Bank. Development Research Group. Finance.
Notes:	"December 2005"--Cover. Includes bibliographical references (p. 24-29). Also available on the World Wide Web.
Summary:	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.

Mansueto

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Call Number:	HG3879.P6 no.3795
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