 IntroductionGianfranco A. Vento and Pasqualina Porretta Chapter 1 in Credit Guarantee Institutions and SME Finance, 2012, pp 1-10 from Palgrave Macmillan Abstract: Abstract Micro, small and medium enterprises are usually considered an essential resource for the development of economic systems as well as for the crucial role that they have in many countries worldwide. However, it is known that they may register severe difficulties in access to the financial system for a number of reasons. These enterprises are often too opaque, not adequately capitalized, they lack of collateral and, more generally, they are often considered too risky by financial intermediaries. For all these reasons, it may happen that the financial system is not always able to screen or interested in screening such firms adequately, thus determining some market failures. On the other hand, a large set of different stakeholders may have interest in sustaining the development of micro, small and medium firms, such as central and local governments, entities in charge of fostering local economies and also large companies which are concerned for the health of firms operating in the same chain. Keywords: Regulatory Framework; Credit Risk; Investigation Area; Financial Intermediary; Leverage Ratio (search for similar items in EconPapers) There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:pal:pmschp:978-0-230-36232-1_1 Ordering information: This item can be ordered from Access Statistics for this chapter More chapters in Palgrave Macmillan Studies in Banking and Financial Institutions from Palgrave Macmillan |
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