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

82 Pages Posted: 20 Apr 2016

See all articles by Augusto de la Torre

Augusto de la Torre

Columbia University, School of International & Public Affairs (SIPA), Students

Juan Carlos Gozzi

Board of Governors of the Federal Reserve

Sergio L. Schmukler

World Bank - Development Research Group (DECRG)

Date Written: August 1, 2007

Abstract

Interest in access to finance has increased significantly in recent years, as growing evidence suggests that lack of access to credit prevents lower-income households and small firms from financing high return investment projects, having an adverse effect on growth and poverty alleviation. This study describes some recent innovative experiences to broaden access to credit. These experiences are consistent with an emerging new view that recognizes a limited role for the public sector in financial markets, but contends that there might be room for well-designed, restricted interventions in collaboration with the private sector to foster financial development and broaden access. The authors illustrate this view with several recent experiences in Latin America and then discuss some open policy questions about the role of the public and private sectors in driving these financial innovations.

Keywords: Debt Markets, Banks & Banking Reform, Emerging Markets, Bankruptcy and Resolution of Financial Distress

Suggested Citation

de la Torre, Augusto and Gozzi, Juan Carlos and Schmukler, Sergio, Innovative Experiences in Access to Finance: Market Friendly Roles for the Visible Hand? (August 1, 2007). World Bank Policy Research Working Paper No. 4326. Available at SSRN: https://ssrn.com/abstract=1008404

Augusto De la Torre

Columbia University, School of International & Public Affairs (SIPA), Students ( email )

420 West 118th Street
New York, NY
United States

Juan Carlos Gozzi

Board of Governors of the Federal Reserve ( email )

20th Street and Constitution Avenue NW
Washington, DC 20551
United States

HOME PAGE: http://www.federalreserve.gov/econresdata/juan-carlos-gozzi.htm

Sergio Schmukler (Contact Author)

World Bank - Development Research Group (DECRG) ( email )

1818 H. Street, N.W.
MSN MC 3-301
Washington, DC 20433
United States
202-458-4167 (Phone)
202-522-3518 (Fax)

HOME PAGE: http://www.worldbank.org/en/about/people/s/sergio-schmukler

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