How the institution of mutual guarantee companies in Greece and in Japan facilitates the access of small and medium sized firms to the banking system and its contribution to their development in both countries

Chryssanthi K. Balomenou ()

ERSA conference papers from European Regional Science Association

Abstract: In the first part of my paper I will analyze the Institution of Mutual Guarantee Companies, referring to the following topics: The Greek Small and Medium Sized Firms and their access to funds through the Banking System. The Institution of the Mutual Guarantee Companies which is one, and in my opinion the more important of the 2 interrelated sub-systems of the Credit Supplementation System and its time evolution in Europe and especially in Greece. - Terms and Conditions for the establishment of a Mutual Guarantee Company in Greece. - Law governing the establishment of Mutual Guarantee Companies in Greece. - The Institution of the Counter-Guarantee Fund, which is the other sub-system of the Credit Supplementation System and its contribution to the effective performance of the Mutual Guarantee Companies. - The operation of the above mentioned Institution and its objectives. - Eligible conditions for guarantee/counter-guarantee service. - The contribution of the Institution to the support and development of Greek Small and Medium Sized Firms and especially to their banking financing . - The problems of the Institution - proposals for its more effective implementation. - The European Union, Small Enterprises and the Institution of Mutual Guarantee Companies. The second part will refer to the International experience related to the Institution of Mutual Guarantee Companies and generally to the Credit Supplementation System, focussing on the case of Japan, because this is unique by international comparison. More specifically I will examine: The Small Firms in Japan and the financial difficulties that they face. The Institution of Credit Guarantee System, its financial instrument, the Credit Guarantee Corporation and its role to the development of Small Firms in each Japanese prefecture. The operation of Small Firms Credit Insurance System - Types of Insurance - Financial assistance to the CGC - results of its operations through its insurance instrument, the Credit Insurance Corporation. In order to be more understanding the aforementioned System, I will present/show the appropriate Organizational and operational charts. In the last part of my paper, I will work out a comparison analysis between the Creek Credit Supplementation and the Japanese one. Moreover, a global assessment of the overall analysis will be carried out, which will also include the conclusion and proposals. Finally, as it is obvious, my paper will contain an appendix of tables and graphs and of course the relevant bibliography.

Date: 2002-08
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