Peru - Developing New Structured Financial Products to Channel Savings Towards Small and Medium Enterprises (SMEs) Growth

World Bank

World Bank

关键词: ACCESS TO CAPITAL;    ACCESS TO FINANCING;    ACCOUNTING;    ACCOUNTS RECEIVABLE;    ACCOUNTS RECEIVABLES;   

RP-ID  :  47348

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

The objective of this study is tocontribute to the development of new structured financialproducts in Peru, in particular as means to address theproblems of access to finance faced by underserved segmentssuch as Small and Medium Enterprises (SMEs). This documentreviews how structured financial products can provide analternative channel for SMEs to access the market.Additionally it provides suggestions regarding policy issuesaimed at improving the market environment. The studyconcludes that: (i) one way to effectively address PeruvianSMEs credit constraints, particularly with respect to longerterm financing, is the use of structured products and (ii)although the Peruvian capital markets regulatory frameworkregarding securitization has become more flexible in recentyears, and despite being one of the least restrictive in theregion, it still shows significant weaknesses.