Credit Guarantee Schemes - Are They Efficient? Experience from European Union Countries

• Autorzy: Halina Waniak-Michalak , Maciej Woźniak , Robert Lisowski

Warianty tytułu

Czy programy gwarancji kredytowych są efektywne? Doświadczenia krajów Unii Europejskiej

• Języki publikacji: EN

Abstrakty

Celem artykułu jest ocena wybranych elementów modeli biznesowych programów poręczeń kredytowych (CGS) wdrażanych w 20 krajach Unii Europejskiej w ramach perspektywy finansowej 2007-2013. W artykule skupiono się na dodatkowości finansowej programów poręczeń kredytowych, która zależy głównie od sposobu zarządzania tymi programami, instytucji je wdrażających, wyznaczonych celów oraz ograniczeń dystrybucyjnych. Analizie poddano poziom kosztów wdrażania i wykorzystania funduszy przeznaczonych na realizację programów. W celu weryfikacji hipotezy zastosowaliśmy kilka metod: Kruskala-Wallisa, test mediany, analizę dyskryminacyjną, skalowanie wielowymiarowe, korelację. Przeprowadziliśmy również analizę mocy. Stwierdziliśmy, że efektywność systemów gwarancji kredytowych wdrażanych przez organizacje pozarządowe, fundusze poręczeń wzajemnych i agencje regionalne jest związana z poziomem rozwoju regionalnego. Zależność ta nie jest widoczna tylko w przypadku zaangażowania banków w realizację programów gwarancyjnych. Może to wynikać z braku możliwości przypisania działalności banku do jednego regionu. Nie stwierdziliśmy natomiast różnic w efektywności pomiędzy typami organizacji wdrażających programy gwarancji kredytowych. Odpowiedzi na postawione w artykule pytania badawcze mogą pomóc decydentom i badaczom w ustaleniu, czy dalsze wspieranie systemów gwarancji kredytowych jest opłacalne i czy należy zmienić sposób zarządzania tymi programami. (abstrakt oryginalny)

EN

The paper aims to assess selected elements of the business models of credit guarantee schemes (CGSs) implemented in 20 European Union countries within the financial framework between 2007 and 2013. This paper focuses on the CGSs' financial additionality that depends mainly on how these programs are managed, the institutions implementing them, the objectives set and their distribution constraints. We analyse the implementation costs and the use of the funds allocated to implement the schemes. To reach the goal, we used several methods: the Kruskal-Wallis by ranks, the median test, discriminant analysis, multidimensional scaling, and correlation. We also did the power analysis. We discovered that the efficiency of CGS implemented by non-governmental organisations, mutual guarantee funds and regional agencies is related to the level of regional development. The relationship is not visible only when banks are engaged, which may be due to the impossibility of assigning a bank's activities to a single region. However, we did not find differences in efficiency between types of organisations that implement CGSs. The answers to the research questions posed in the article can help policymakers and researchers conclude whether it is cost-effective to continue supporting CGSs and whether the management of these schemes should change. The paper contributes to the economic policy theory in the area of state aid to SMEs and public finance. (original abstract)

Słowa kluczowe

PL

Gwarancje kredytowe; Modele biznesowe; Organizacje pozarządowe; Efektywność; Małe i średnie przedsiębiorstwa

EN

Credit guarantee; Business models; Non-governmental organisation; Effectiveness; Small business

• Czasopismo: Comparative Economic Research
• Rocznik: 2022
• Tom: 25
• Numer: nr 4
• Strony: 87-107

Twórcy

autor

Halina Waniak-Michalak

• University of Lodz, Poland

autor

Maciej Woźniak

• AGH University of Science and Technology Kraków, Poland

autor

Robert Lisowski

• AGH University of Science and Technology Kraków, Poland

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Identyfikatory

DOI

10.18778/1508-2008.25.31