E-book details

Loan and Guarantee Funds. Development - Performance - Stability

Loan and Guarantee Funds. Development - Performance - Stability

Halina Waniak-Michalak, Jan Michalak, Maciej Turała

Ebook

The monograph is scientifically valuable, innovative and brings the high potential for application. The discussed topics are up to date and significant for both theory and economic practice. The literature review presented herein is of high academic quality, as is the rich empirical part which covers the stages of development of loan and guarantee funds, provides a comparison of their functioning in different countries and analyses their financial standing in the context of regional development.

The monograph may be addressed to representatives of the economic practice as well as academics, in particular those specialising in public finance, local government finance, accounting and management of corporate finance.

All in all, it is a valuable publication, not only on the Polish publishing market.

Introduction   7

 

Chapter I. Capital gap – a barrier for development     13

  1. Regional and local development         13
  2. Capital gap in small and medium enterprises                15

2.1. Capital gap – phenomenon explained     15

2.2. Theoretical approaches to capital gap       19

2.3. Measurement of the capital gap               20

  1. Guarantee and loan schemes as policy instruments for support of small and medium enterprises         21

 

Chapter II. Loan and guarantee funds in Poland – attempt at closing the capital gap 23

  1. Economic transformation in Poland 23
  2. Loan funds in Poland              26
  3. Guarantee funds in Poland  29
  4. Role of loan and guarantee funds in closing the capital gap in Poland  37

 

Chapter III. Development and business models of loan and guarantee funds in Poland          45

1. Phase I: 1992–2003                 49

2. Phase II: 2004–2013                56

3. Phase III: 2014–2020              62

 

Chapter IV. Loan and guarantee schemes and funds in chosen European countries   71

  1. France           73
  2. United Kingdom       74
  3. Turkey           75
  4. Austria          77
  5. Czech Republic           78
  6. Germany      79
  7. Hungary        80
  8. Slovakia        81
  9. Italy                82

10. Comparative analysis of guarantee and loan schemes in Europe          83

 

Chapter V. Performance of loan and guarantee funds in Poland – an approach to assessment and evaluation            87

  1. Dimensions of performance and research questions              87
  2. Guarantee funds’ and loan funds’ performance in the context of regional development level    89
  3. Stability of loan and guarantee funds              92

 

Conclusions, study limitations and further research       105

References     109

List of tables    121

List of figures  123

Appendix 1. Key information on guarantee funds in Poland (active on the day 1.01.2018)        125

Appendix 2. Key information on loan funds in Poland (active as of 31.01.2020)                133

  • Title: Loan and Guarantee Funds. Development - Performance - Stability
  • Author: Halina Waniak-Michalak, Jan Michalak, Maciej Turała
  • ISBN: 978-83-822-0164-2, 9788382201642
  • Date of issue: 2020-11-17
  • Format: Ebook
  • Item ID: e_1vah
  • Publisher: Wydawnictwo Uniwersytetu Łódzkiego