A more complete conceptual framework for financing of small and medium enterprises
By: Allen N. Berger, Gregory F. Udell.
Contributors: Udell, Gregory F., 1946-; World Bank.
Series: Policy research working paper ;; 3795; Policy research working papers (Online) ;; 3795.
Publisher: World Bank
Published: 2005
Place of publication: [Washington, D.C
Language: eng
Format: Electronic resource
Subjects: Small business -- Finance.; Commercial credit -- Government policy.
Description: "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. "--World Bank web site.
Notes: Includes bibliographical references.
Title from PDF file as viewed on 12/15/2005.
Also available in print.
System requirements: Adobe Acrobat Reader.
Mode of access: World Wide Web.