Innovative Experiences in Access to Finance : Market-Friendly Roles for the Visible Hand?
Interest in access to finance and awareness of its importance have increased significantly since the early 2000s. Growing evidence suggests that lack of access to credit prevents many households and firms from financing high-return investment projects, which has an adverse effect on growth and...
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| Format: | Book |
| Language: | English en_US |
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Washington, DC: World Bank
2017
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| Online Access: | http://hdl.handle.net/10986/27529 |
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okr-10986-275292021-04-23T14:04:44Z Innovative Experiences in Access to Finance : Market-Friendly Roles for the Visible Hand? de la Torre, Augusto Gozzi, Juan Carlos Schmukler, Sergio L. PUBLIC BANKS PUBLIC SECTOR INTERVENTIONS CREDIT GUARANTEES ACCESS TO CREDIT STRUCTURED FINANCE CORRESPONDENT BANKING SME FINANCE FACTORING NEW FINANCIAL PRODUCTS ACCESS TO FINANCE Interest in access to finance and awareness of its importance have increased significantly since the early 2000s. Growing evidence suggests that lack of access to credit prevents many households and firms from financing high-return investment projects, which has an adverse effect on growth and poverty alleviation. Despite the increasing awareness of the importance of access to finance among both researchers and policymakers, there are still some major gaps in our understanding of the main drivers of access, as well as about the impact of different policies in this area. This book aims to fill some of these gaps by discussing recent innovative experiences in broadening access to credit in Latin America. These experiences are consistent with an emerging new view that, while recognizing the central role of the public sector in improving the contractual and informational environment for financial markets, also contends that there might be room for well-designed, restricted interventions in collaboration with the private sector to foster the development of financial markets and broaden access to them. In particular, the book analyzes, among other things, some interesting experiences from Brazil, Chile, Colombia, and Mexico that use different instruments to broaden access to credit in a sustainable way, such as structured finance, factoring, credit guarantees, and correspondent banking. Most of these experiences have led to financial innovation by developing new financial products and coordinating different players in the financial and real sectors to overcome barriers to access to credit. The book provides a first systematic analysis of these innovative experiences, including an analytical framework to understand problems of access to finance and a discussion of the effects and optimal design of public interventions. Finally, the book discusses some open policy questions about the role of the private and public sectors (including state‐owned banks) in broadening access to finance in a sustainable and market-friendly manner. 2017-07-05T21:46:17Z 2017-07-05T21:46:17Z 2017-07-05 Book 978-0-8213-7080-3 http://hdl.handle.net/10986/27529 English en_US Latin American Development Forum; CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank Washington, DC: World Bank Publications & Research Publications & Research :: Publication Latin America & Caribbean Caribbean Central America Latin America |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
PUBLIC BANKS PUBLIC SECTOR INTERVENTIONS CREDIT GUARANTEES ACCESS TO CREDIT STRUCTURED FINANCE CORRESPONDENT BANKING SME FINANCE FACTORING NEW FINANCIAL PRODUCTS ACCESS TO FINANCE |
| spellingShingle |
PUBLIC BANKS PUBLIC SECTOR INTERVENTIONS CREDIT GUARANTEES ACCESS TO CREDIT STRUCTURED FINANCE CORRESPONDENT BANKING SME FINANCE FACTORING NEW FINANCIAL PRODUCTS ACCESS TO FINANCE de la Torre, Augusto Gozzi, Juan Carlos Schmukler, Sergio L. Innovative Experiences in Access to Finance : Market-Friendly Roles for the Visible Hand? |
| geographic_facet |
Latin America & Caribbean Caribbean Central America Latin America |
| relation |
Latin American Development Forum; |
| description |
Interest in access to finance and awareness of its importance have increased significantly
since the early 2000s. Growing evidence suggests that lack of access to credit prevents
many households and firms from financing high-return investment projects, which has an
adverse effect on growth and poverty alleviation. Despite the increasing awareness of the
importance of access to finance among both researchers and policymakers, there are still
some major gaps in our understanding of the main drivers of access, as well as about the
impact of different policies in this area.
This book aims to fill some of these gaps by discussing recent innovative experiences in
broadening access to credit in Latin America. These experiences are consistent with an
emerging new view that, while recognizing the central role of the public sector in improving
the contractual and informational environment for financial markets, also contends that
there might be room for well-designed, restricted interventions in collaboration with the
private sector to foster the development of financial markets and broaden access to them.
In particular, the book analyzes, among other things, some interesting experiences from
Brazil, Chile, Colombia, and Mexico that use different instruments to broaden access to
credit in a sustainable way, such as structured finance, factoring, credit guarantees, and
correspondent banking. Most of these experiences have led to financial innovation by
developing new financial products and coordinating different players in the financial and
real sectors to overcome barriers to access to credit.
The book provides a first systematic analysis of these innovative experiences, including an
analytical framework to understand problems of access to finance and a discussion of the
effects and optimal design of public interventions. Finally, the book discusses some open
policy questions about the role of the private and public sectors (including state‐owned
banks) in broadening access to finance in a sustainable and market-friendly manner. |
| format |
Book |
| author |
de la Torre, Augusto Gozzi, Juan Carlos Schmukler, Sergio L. |
| author_facet |
de la Torre, Augusto Gozzi, Juan Carlos Schmukler, Sergio L. |
| author_sort |
de la Torre, Augusto |
| title |
Innovative Experiences in Access to Finance : Market-Friendly Roles for the Visible Hand? |
| title_short |
Innovative Experiences in Access to Finance : Market-Friendly Roles for the Visible Hand? |
| title_full |
Innovative Experiences in Access to Finance : Market-Friendly Roles for the Visible Hand? |
| title_fullStr |
Innovative Experiences in Access to Finance : Market-Friendly Roles for the Visible Hand? |
| title_full_unstemmed |
Innovative Experiences in Access to Finance : Market-Friendly Roles for the Visible Hand? |
| title_sort |
innovative experiences in access to finance : market-friendly roles for the visible hand? |
| publisher |
Washington, DC: World Bank |
| publishDate |
2017 |
| url |
http://hdl.handle.net/10986/27529 |
| _version_ |
1764465026654011392 |