Innovative Experiences in Access to Finance : Market Friendly Roles for the Visible Hand?

de la Torre, Augusto ; Gozzi, Juan Carlos ; Schmukler, Sergio L.

World Bank, Washington, DC

关键词: ACCOUNTING;    ACCOUNTING STANDARDS;    ACTIVE MARKET;    AGENCY PROBLEMS;    AGRICULTURAL COOPERATIVES;   

DOI  :  10.1596/1813-9450-4326
RP-ID  :  WPS4326

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

Interest in access to finance hasincreased significantly in recent years, as growing evidencesuggests that lack of access to credit prevents lower-incomehouseholds and small firms from financing high returninvestment projects, having an adverse effect on growth andpoverty alleviation. This study describes some recentinnovative experiences to broaden access to credit. Theseexperiences are consistent with an emerging new view thatrecognizes a limited role for the public sector in financialmarkets, but contends that there might be room forwell-designed, restricted interventions in collaborationwith the private sector to foster financial development andbroaden access. The authors illustrate this view withseveral recent experiences in Latin America and then discusssome open policy questions about the role of the public andprivate sectors in driving these financial innovations.