The paper focuses on public guarantees granted to micro, small and medium-sized firms (SMEs) by the Italian national credit guarantee programme (Fondo Centrale di Garanzia – Central Guarantee Fund - CGF). Because the behaviour of Mutual Guarantee Institutions could affect the default risk of counter-guaranteed loans, it is vital to investigate their operating and structural characteristics in order to identify an optimal design for Public Credit Guarantee Schemes (PCGSs).
SMEs, public credit guarantees and mutual guarantee institutions / Lorenzo, Gai; Ielasi, Federica; Monica, Rossolini. - In: JOURNAL OF SMALL BUSINESS AND ENTERPRISE DEVELOPMENT. - ISSN 1462-6004. - STAMPA. - 23:(2016), pp. 1-30. [10.1108/JSBED-03-2016-0046]
SMEs, public credit guarantees and mutual guarantee institutions
Lorenzo, Gai;Ielasi, Federica;
2016
Abstract
The paper focuses on public guarantees granted to micro, small and medium-sized firms (SMEs) by the Italian national credit guarantee programme (Fondo Centrale di Garanzia – Central Guarantee Fund - CGF). Because the behaviour of Mutual Guarantee Institutions could affect the default risk of counter-guaranteed loans, it is vital to investigate their operating and structural characteristics in order to identify an optimal design for Public Credit Guarantee Schemes (PCGSs).
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