頁籤選單縮合
| 題 名 | Credit Guarantee Schemes in Sri Lanka--Way Forward |
|---|---|
| 作 者 | De Alwis, Sharmini; Basnayake, B. M. R.; | 書刊名 | 中小企業發展季刊 |
| 卷 期 | 14 2009.12[民98.12] |
| 頁 次 | 頁51-82 |
| 分類號 | 563.1 |
| 關鍵詞 | Collateral; Participating credit Institutions; Moral hazard; Premium; |
| 語 文 | 英文(English) |
| 英文摘要 | Although SMEs play a vital role in the economic process, they continue to experience constraints when accessing formal sector finance. The four factors that cause market failure in the credit market for SMEs are high administrative costs for small scale lending, asymmetric information, high risk perception on small firms and lack of adequate collateral. This market failure justifies government intervention. Such intervention may take many forms but credit guarantee is relatively the least distortionery. Survey data indicate that SMEs Sri Lanka continue to face credit constraints mainly due to collateral based issues. In the immediate aftermath of the liberalization of the economy, a compelling need for Credit Guarantee Schemes arose in Sri Lanka as domestic SMEs were faced with heavy competition from imported goods. Over the years, a number of partial credit guarantee schemes were operated by the Central Bank of Sri Lanka. Many of these were mandatory and were set up to promote refinance schemes operated by the Central Bank or other financial institutions. The funds for operating these schemes consisted of seed funds provided by the Government or the Central Bank, premium income and investment income received from investing surplus funds. Due to excessively stringent requirements attached to most of the Credit Guarantee Schemes, a large proportion of claims were rejected and this has resulted in a loss of confidence in such schemes. As most SME credit guarantee schemes have now terminated, there is a special need for a new SME credit guarantee scheme. particularly due to the impact of the global financial crisis on SMEs and the adoption of Basle II standards by the financial sector institutions in Sri Lanka. A new credit guarantee scheme for SMEs was designed to meet some of the weaknesses in past schemes. There is however further room for improvement. However if such improvements are to be introduced the Central Bank may not have the capacity to operate such credit guarantee schemes. A dedicated agency such as a credit guarantee corporation needs to be established for this purpose in Sri Lanka. |
本系統中英文摘要資訊取自各篇刊載內容。