In many countries mutual guarantee schemes and institutions help small and
medium enterprises (SMEs) to improve their access to credit, by reducing existing
information asymmetries and improving credit conditions for those who benefit from such
guarantees. In European economies, mostly characterised by small firms, mutual guarantee
institutions play a very significant role in sustaining national economies.
This book analyzes the functioning of guarantee systems for SMEs in
countries where these schemes play an important part. Furthermore,it investigates the
expected evolutions of the guarantees offered by the mutual guarantee institutions in the
framework of Basel II, since only under certain conditions are the guarantees eligible
under the New Basel Capital Accord.
The cross-country comparison emphasizes the regulatory and institutional
framework, the structure, dimension and operational features, the performance and the
policy makers' role.
PAOLA LEONE is Professor of Banking and Finance atSapienza University
of Rome, Italy. She is Coordinator of the 'Banking and Finance' PhD program and
Chairperson ofthe'International Finance and Risk Management' Postgraduate Degree at
'Sapienza' University of Rome. Professor Leone is the author of several books and journal
articles. Her main research interests include: banking, capital markets, risk management,
mutual guarantee institutions. She has acted as a consultant and trainer for various
financial intermediaries, public and private entities and consulting firms.
GIANFRANCO A. VENTO is Associate Professor of Banking and Finance,
Guglielmo Marconi University, Italy andPrincipal Lecturer in Banking & Finance at
Regent's College in London, where he is Director of the Research Cluster in Banking &
Finance and member of the Senate. He worked for five years at the Bank of Italy as
Financial Analyst in the Banking Supervision Department. Professor Vento is author of four
books and many scientific journal articles on banking and financial topics. His main
research interests include: Microfinance and SME finance; money market; liquidity risk
management; banking regulation and supervision; green finance.He has acted as a consultant
and trainer for various banks, microfinance institutions, public entities and consulting
firms.
Table of Contents
Introduction; G.A.Vento & P.Porretta
An Analysis of Credit Guarantee Schemes: Suggestions from Literature; I.C.Panetta
The Guarantee System in France; P.Porretta & I.G.Bikoula
The Guarantee System in Italy; P.Leone
The Guarantee System in Spain; I.C.Panetta & C.Lo Cascio
The Guarantee System in Hungary; P.Capuano & P.Porretta
The Guarantee System in Argentina; G.A.Vento & P.Agnese
The Guarantee System in Chile; G.A.Vento & A.La Colla
A Comparative Analysis of Mutual Guarantee Systems; P.Leone &
P.Porretta
384 pages, Hardcover