頁籤選單縮合
題 名 | Tasks, Organization and Economic Benefits of German Guarantee Banks |
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作 者 | Schmidt, Axel G.; Selbherr, Guy; | 書刊名 | 中小企業發展季刊 |
卷 期 | 11 2009.03[民98.03] |
頁 次 | 頁45-85 |
分類號 | 562.29 |
關鍵詞 | SME financing; Collateral; SME state aid; Guarantee banks; Company takeovers; Business start-ups; Macroeconomic benefits effectiveness of loan guarantee schemes; Financial and economic additionality crowding out; |
語 文 | 英文(English) |
英文摘要 | Apart from internal financing, bank loans have been and will remain by far the most important financing instrument for German SMEs. The profound changes currently taking place in the banking sector involve more stringent credit policies appropriate to risk, and in particular the strengthened endeavour to limit default risk by demanding more collateral, which many small and new companies cannot supply. In this situation, German Guarantee Banks as self-help institutions in the economy contribute, by underwriting default risks, to the financing and realisation of business start-ups and SMEs for investment projects which would not be funded otherwise, in particular due to lack of collateral. Based on a voluminous business survey and applying a comprehensive macroeconomic simulation model and scenario techniques it is shown, that these investments in fact are produced in addition and have direct and indirect positive effects in their turn on other economic aggregates, such as public net financial surplus, gross domestic product, tax revenue, social security contributions to the State and the number of employees. |
本系統中英文摘要資訊取自各篇刊載內容。