Collateral Registries for Movable Assets : Does Their Introduction Spur Firms' Access to Bank Finance?

Using firm-level surveys for up to 73 countries, this paper explores the impact of introducing collateral registries for movable assets on firms' access to bank finance. It compares firms' access to bank finance in seven countries that in...

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Main Authors:	Love, Inessa, Martínez Pería, María Soledad, Singh, Sandeep
Format:	Policy Research Working Paper
Language:	English en_US
Published:	World Bank, Washington, DC 2013
Subjects:	ACCESS TO BANK ACCESS TO CREDIT ACCESS TO FINANCE ACCESS TO FINANCING ACCESS TO LOAN ACCESS TO LOANS ACCOUNTS RECEIVABLE ADVERSE SELECTION ASYMMETRIC INFORMATION AVAILABILITY OF COLLATERAL BANK CREDIT BANK FINANCING BANK LENDING BANK LOAN BANK LOANS BANK POLICY BANK PROFITABILITY BANK RISK BANKRUPTCY BANKRUPTCY LAWS BANKS BINDING CONSTRAINT BORROWER BORROWING BUSINESS ENVIRONMENT BUSINESS REGULATIONS CAPITAL STOCK CHECKS CLAIM COLLATERAL COLLATERAL LAW COLLATERAL LAWS COLLATERAL REFORM COLLATERAL REFORMS COLLATERAL REGIMES COLLATERAL REGISTRIES COLLATERAL REGISTRY CONTRACT LAWS COST OF CREDIT COUNTRY FIXED EFFECTS CREDIT AVAILABILITY CREDIT BUREAUS CREDIT CONSTRAINTS CREDIT FACILITIES CREDIT INFORMATION CREDIT MARKETS CREDIT RATIONING CREDIT REGISTRIES CREDIT REPORTING CREDIT RISK CREDITOR CREDITOR PROTECTION CREDITOR RIGHTS CREDITORS DEFAULT INFORMATION DEFAULTS DEPENDENT DEPOSIT DEVELOPING COUNTRIES DOMESTIC BANKS DOMESTIC CREDIT DUMMY VARIABLE DUMMY VARIABLES ECONOMIC GROWTH ENFORCEABILITY ENFORCEABILITY OF CONTRACTS ENFORCEMENT OF SECURITY EQUIPMENT EXPORTER EXTERNAL FINANCING FINANCE ACCESS FINANCE CORPORATION FINANCIAL CONTRACTS FINANCIAL CRISIS FINANCIAL DEVELOPMENT FINANCIAL INSTITUTION FINANCIAL INTERMEDIATION FINANCIAL MARKETS FINANCIAL OBSTACLE FINANCIAL SECTOR FINANCIAL SECTOR DEVELOPMENT FINANCIAL STUDIES FINANCING CONSTRAINTS FINANCING OBSTACLE FIRM GROWTH FIXED ASSETS FOREIGN BANKS GROWTH RATE IMMOVABLE PROPERTY INCOME INDICATORS OF ACCESS INFLATION INFLATION RATE INFORMATION ASYMMETRIES INFORMATION SHARING INTANGIBLE INTANGIBLE ASSETS INTEREST RATE INTEREST RATES INTERNATIONAL BANK INTERNATIONAL FINANCE INVENTORY JURISDICTIONS LARGE FIRMS LEGAL CONSTRAINTS LEGAL FRAMEWORK LEGAL REFORM LEGAL REFORMS LEGAL RIGHTS LEGAL SYSTEM LEGAL SYSTEMS LENDER LENDERS LIENS LIKELIHOOD OF FINANCIAL CRISIS LINE OF CREDIT LOAN LOAN AMOUNTS LOAN MATURITIES LOAN MATURITY LOAN REPAYMENT LOAN SPREADS LOAN TERMS MANUFACTURING INDUSTRY MATURITIES MATURITY MORAL HAZARD MOVABLE ASSETS MOVABLE COLLATERAL MULTINATIONAL MULTINATIONAL BANK OUTSTANDING LOAN OVERDRAFT OVERDRAFT FACILITY PERSONAL ASSETS PLEDGE COLLATERAL POLITICAL ECONOMY PRIORITY OF CREDITORS PRIVATE CREDIT PRIVATE SECTOR DEVELOPMENT PROFITABILITY RECEIVABLES REGISTRY REFORM REGULATORY ENVIRONMENT REGULATORY FRAMEWORK RISK TAKING SECURITY INTEREST SECURITY INTERESTS TRANSACTIONS LAWS TRANSITION COUNTRIES USE OF COLLATERAL VALUE OF COLLATERAL WORKING CAPITAL WORLD DEVELOPMENT INDICATORS access to bank finance
Online Access:	http://documents.worldbank.org/curated/en/2013/06/17840507/collateral-registries-movable-assets-introduction-spur-firms-access-bank-finance http://hdl.handle.net/10986/15839

id	okr-10986-15839
recordtype	oai_dc
spelling	okr-10986-158392021-04-23T14:03:23Z Collateral Registries for Movable Assets : Does Their Introduction Spur Firms' Access to Bank Finance? Love, Inessa Martínez Pería, María Soledad Singh, Sandeep ACCESS TO BANK ACCESS TO CREDIT ACCESS TO FINANCE ACCESS TO FINANCING ACCESS TO LOAN ACCESS TO LOANS ACCOUNTS RECEIVABLE ADVERSE SELECTION ASYMMETRIC INFORMATION AVAILABILITY OF COLLATERAL BANK CREDIT BANK FINANCING BANK LENDING BANK LOAN BANK LOANS BANK POLICY BANK PROFITABILITY BANK RISK BANKRUPTCY BANKRUPTCY LAWS BANKS BINDING CONSTRAINT BORROWER BORROWING BUSINESS ENVIRONMENT BUSINESS REGULATIONS CAPITAL STOCK CHECKS CLAIM COLLATERAL COLLATERAL LAW COLLATERAL LAWS COLLATERAL REFORM COLLATERAL REFORMS COLLATERAL REGIMES COLLATERAL REGISTRIES COLLATERAL REGISTRY CONTRACT LAWS COST OF CREDIT COUNTRY FIXED EFFECTS CREDIT AVAILABILITY CREDIT BUREAUS CREDIT CONSTRAINTS CREDIT FACILITIES CREDIT INFORMATION CREDIT MARKETS CREDIT RATIONING CREDIT REGISTRIES CREDIT REPORTING CREDIT RISK CREDITOR CREDITOR PROTECTION CREDITOR RIGHTS CREDITORS DEFAULT INFORMATION DEFAULTS DEPENDENT DEPOSIT DEVELOPING COUNTRIES DOMESTIC BANKS DOMESTIC CREDIT DUMMY VARIABLE DUMMY VARIABLES ECONOMIC GROWTH ENFORCEABILITY ENFORCEABILITY OF CONTRACTS ENFORCEMENT OF SECURITY EQUIPMENT EXPORTER EXTERNAL FINANCING FINANCE ACCESS FINANCE CORPORATION FINANCIAL CONTRACTS FINANCIAL CRISIS FINANCIAL DEVELOPMENT FINANCIAL INSTITUTION FINANCIAL INTERMEDIATION FINANCIAL MARKETS FINANCIAL OBSTACLE FINANCIAL SECTOR FINANCIAL SECTOR DEVELOPMENT FINANCIAL STUDIES FINANCING CONSTRAINTS FINANCING OBSTACLE FIRM GROWTH FIXED ASSETS FOREIGN BANKS GROWTH RATE IMMOVABLE PROPERTY INCOME INDICATORS OF ACCESS INFLATION INFLATION RATE INFORMATION ASYMMETRIES INFORMATION SHARING INTANGIBLE INTANGIBLE ASSETS INTEREST RATE INTEREST RATES INTERNATIONAL BANK INTERNATIONAL FINANCE INVENTORY JURISDICTIONS LARGE FIRMS LEGAL CONSTRAINTS LEGAL FRAMEWORK LEGAL REFORM LEGAL REFORMS LEGAL RIGHTS LEGAL SYSTEM LEGAL SYSTEMS LENDER LENDERS LIENS LIKELIHOOD OF FINANCIAL CRISIS LINE OF CREDIT LOAN LOAN AMOUNTS LOAN MATURITIES LOAN MATURITY LOAN REPAYMENT LOAN SPREADS LOAN TERMS MANUFACTURING INDUSTRY MATURITIES MATURITY MORAL HAZARD MOVABLE ASSETS MOVABLE COLLATERAL MULTINATIONAL MULTINATIONAL BANK OUTSTANDING LOAN OVERDRAFT OVERDRAFT FACILITY PERSONAL ASSETS PLEDGE COLLATERAL POLITICAL ECONOMY PRIORITY OF CREDITORS PRIVATE CREDIT PRIVATE SECTOR DEVELOPMENT PROFITABILITY RECEIVABLES REGISTRY REFORM REGULATORY ENVIRONMENT REGULATORY FRAMEWORK RISK TAKING SECURITY INTEREST SECURITY INTERESTS TRANSACTIONS LAWS TRANSITION COUNTRIES USE OF COLLATERAL VALUE OF COLLATERAL WORKING CAPITAL WORLD DEVELOPMENT INDICATORS access to bank finance Using firm-level surveys for up to 73 countries, this paper explores the impact of introducing collateral registries for movable assets on firms' access to bank finance. It compares firms' access to bank finance in seven countries that introduced collateral registries for movable assets against three control groups: firms in all countries that did not introduce a registry, firms in a sample of countries matched by location and income per capita to the countries that introduced registries for movable assets, and firms in countries that undertook other types of collateral reforms but did not set up registries for movable assets. Overall, the analysis finds that introducing collateral registries for movable assets increases firms' access to bank finance. There is also some evidence that this effect is larger among smaller firms. 2013-09-26T13:58:26Z 2013-09-26T13:58:26Z 2013-06 http://documents.worldbank.org/curated/en/2013/06/17840507/collateral-registries-movable-assets-introduction-spur-firms-access-bank-finance http://hdl.handle.net/10986/15839 English en_US Policy Research Working Paper;No. 6477 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank, Washington, DC Publications & Research :: Policy Research Working Paper Publications & Research
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English en_US
topic	ACCESS TO BANK ACCESS TO CREDIT ACCESS TO FINANCE ACCESS TO FINANCING ACCESS TO LOAN ACCESS TO LOANS ACCOUNTS RECEIVABLE ADVERSE SELECTION ASYMMETRIC INFORMATION AVAILABILITY OF COLLATERAL BANK CREDIT BANK FINANCING BANK LENDING BANK LOAN BANK LOANS BANK POLICY BANK PROFITABILITY BANK RISK BANKRUPTCY BANKRUPTCY LAWS BANKS BINDING CONSTRAINT BORROWER BORROWING BUSINESS ENVIRONMENT BUSINESS REGULATIONS CAPITAL STOCK CHECKS CLAIM COLLATERAL COLLATERAL LAW COLLATERAL LAWS COLLATERAL REFORM COLLATERAL REFORMS COLLATERAL REGIMES COLLATERAL REGISTRIES COLLATERAL REGISTRY CONTRACT LAWS COST OF CREDIT COUNTRY FIXED EFFECTS CREDIT AVAILABILITY CREDIT BUREAUS CREDIT CONSTRAINTS CREDIT FACILITIES CREDIT INFORMATION CREDIT MARKETS CREDIT RATIONING CREDIT REGISTRIES CREDIT REPORTING CREDIT RISK CREDITOR CREDITOR PROTECTION CREDITOR RIGHTS CREDITORS DEFAULT INFORMATION DEFAULTS DEPENDENT DEPOSIT DEVELOPING COUNTRIES DOMESTIC BANKS DOMESTIC CREDIT DUMMY VARIABLE DUMMY VARIABLES ECONOMIC GROWTH ENFORCEABILITY ENFORCEABILITY OF CONTRACTS ENFORCEMENT OF SECURITY EQUIPMENT EXPORTER EXTERNAL FINANCING FINANCE ACCESS FINANCE CORPORATION FINANCIAL CONTRACTS FINANCIAL CRISIS FINANCIAL DEVELOPMENT FINANCIAL INSTITUTION FINANCIAL INTERMEDIATION FINANCIAL MARKETS FINANCIAL OBSTACLE FINANCIAL SECTOR FINANCIAL SECTOR DEVELOPMENT FINANCIAL STUDIES FINANCING CONSTRAINTS FINANCING OBSTACLE FIRM GROWTH FIXED ASSETS FOREIGN BANKS GROWTH RATE IMMOVABLE PROPERTY INCOME INDICATORS OF ACCESS INFLATION INFLATION RATE INFORMATION ASYMMETRIES INFORMATION SHARING INTANGIBLE INTANGIBLE ASSETS INTEREST RATE INTEREST RATES INTERNATIONAL BANK INTERNATIONAL FINANCE INVENTORY JURISDICTIONS LARGE FIRMS LEGAL CONSTRAINTS LEGAL FRAMEWORK LEGAL REFORM LEGAL REFORMS LEGAL RIGHTS LEGAL SYSTEM LEGAL SYSTEMS LENDER LENDERS LIENS LIKELIHOOD OF FINANCIAL CRISIS LINE OF CREDIT LOAN LOAN AMOUNTS LOAN MATURITIES LOAN MATURITY LOAN REPAYMENT LOAN SPREADS LOAN TERMS MANUFACTURING INDUSTRY MATURITIES MATURITY MORAL HAZARD MOVABLE ASSETS MOVABLE COLLATERAL MULTINATIONAL MULTINATIONAL BANK OUTSTANDING LOAN OVERDRAFT OVERDRAFT FACILITY PERSONAL ASSETS PLEDGE COLLATERAL POLITICAL ECONOMY PRIORITY OF CREDITORS PRIVATE CREDIT PRIVATE SECTOR DEVELOPMENT PROFITABILITY RECEIVABLES REGISTRY REFORM REGULATORY ENVIRONMENT REGULATORY FRAMEWORK RISK TAKING SECURITY INTEREST SECURITY INTERESTS TRANSACTIONS LAWS TRANSITION COUNTRIES USE OF COLLATERAL VALUE OF COLLATERAL WORKING CAPITAL WORLD DEVELOPMENT INDICATORS access to bank finance
spellingShingle	ACCESS TO BANK ACCESS TO CREDIT ACCESS TO FINANCE ACCESS TO FINANCING ACCESS TO LOAN ACCESS TO LOANS ACCOUNTS RECEIVABLE ADVERSE SELECTION ASYMMETRIC INFORMATION AVAILABILITY OF COLLATERAL BANK CREDIT BANK FINANCING BANK LENDING BANK LOAN BANK LOANS BANK POLICY BANK PROFITABILITY BANK RISK BANKRUPTCY BANKRUPTCY LAWS BANKS BINDING CONSTRAINT BORROWER BORROWING BUSINESS ENVIRONMENT BUSINESS REGULATIONS CAPITAL STOCK CHECKS CLAIM COLLATERAL COLLATERAL LAW COLLATERAL LAWS COLLATERAL REFORM COLLATERAL REFORMS COLLATERAL REGIMES COLLATERAL REGISTRIES COLLATERAL REGISTRY CONTRACT LAWS COST OF CREDIT COUNTRY FIXED EFFECTS CREDIT AVAILABILITY CREDIT BUREAUS CREDIT CONSTRAINTS CREDIT FACILITIES CREDIT INFORMATION CREDIT MARKETS CREDIT RATIONING CREDIT REGISTRIES CREDIT REPORTING CREDIT RISK CREDITOR CREDITOR PROTECTION CREDITOR RIGHTS CREDITORS DEFAULT INFORMATION DEFAULTS DEPENDENT DEPOSIT DEVELOPING COUNTRIES DOMESTIC BANKS DOMESTIC CREDIT DUMMY VARIABLE DUMMY VARIABLES ECONOMIC GROWTH ENFORCEABILITY ENFORCEABILITY OF CONTRACTS ENFORCEMENT OF SECURITY EQUIPMENT EXPORTER EXTERNAL FINANCING FINANCE ACCESS FINANCE CORPORATION FINANCIAL CONTRACTS FINANCIAL CRISIS FINANCIAL DEVELOPMENT FINANCIAL INSTITUTION FINANCIAL INTERMEDIATION FINANCIAL MARKETS FINANCIAL OBSTACLE FINANCIAL SECTOR FINANCIAL SECTOR DEVELOPMENT FINANCIAL STUDIES FINANCING CONSTRAINTS FINANCING OBSTACLE FIRM GROWTH FIXED ASSETS FOREIGN BANKS GROWTH RATE IMMOVABLE PROPERTY INCOME INDICATORS OF ACCESS INFLATION INFLATION RATE INFORMATION ASYMMETRIES INFORMATION SHARING INTANGIBLE INTANGIBLE ASSETS INTEREST RATE INTEREST RATES INTERNATIONAL BANK INTERNATIONAL FINANCE INVENTORY JURISDICTIONS LARGE FIRMS LEGAL CONSTRAINTS LEGAL FRAMEWORK LEGAL REFORM LEGAL REFORMS LEGAL RIGHTS LEGAL SYSTEM LEGAL SYSTEMS LENDER LENDERS LIENS LIKELIHOOD OF FINANCIAL CRISIS LINE OF CREDIT LOAN LOAN AMOUNTS LOAN MATURITIES LOAN MATURITY LOAN REPAYMENT LOAN SPREADS LOAN TERMS MANUFACTURING INDUSTRY MATURITIES MATURITY MORAL HAZARD MOVABLE ASSETS MOVABLE COLLATERAL MULTINATIONAL MULTINATIONAL BANK OUTSTANDING LOAN OVERDRAFT OVERDRAFT FACILITY PERSONAL ASSETS PLEDGE COLLATERAL POLITICAL ECONOMY PRIORITY OF CREDITORS PRIVATE CREDIT PRIVATE SECTOR DEVELOPMENT PROFITABILITY RECEIVABLES REGISTRY REFORM REGULATORY ENVIRONMENT REGULATORY FRAMEWORK RISK TAKING SECURITY INTEREST SECURITY INTERESTS TRANSACTIONS LAWS TRANSITION COUNTRIES USE OF COLLATERAL VALUE OF COLLATERAL WORKING CAPITAL WORLD DEVELOPMENT INDICATORS access to bank finance Love, Inessa Martínez Pería, María Soledad Singh, Sandeep Collateral Registries for Movable Assets : Does Their Introduction Spur Firms' Access to Bank Finance?
relation	Policy Research Working Paper;No. 6477
description	Using firm-level surveys for up to 73 countries, this paper explores the impact of introducing collateral registries for movable assets on firms' access to bank finance. It compares firms' access to bank finance in seven countries that introduced collateral registries for movable assets against three control groups: firms in all countries that did not introduce a registry, firms in a sample of countries matched by location and income per capita to the countries that introduced registries for movable assets, and firms in countries that undertook other types of collateral reforms but did not set up registries for movable assets. Overall, the analysis finds that introducing collateral registries for movable assets increases firms' access to bank finance. There is also some evidence that this effect is larger among smaller firms.
format	Publications & Research :: Policy Research Working Paper
author	Love, Inessa Martínez Pería, María Soledad Singh, Sandeep
author_facet	Love, Inessa Martínez Pería, María Soledad Singh, Sandeep
author_sort	Love, Inessa
title	Collateral Registries for Movable Assets : Does Their Introduction Spur Firms' Access to Bank Finance?
title_short	Collateral Registries for Movable Assets : Does Their Introduction Spur Firms' Access to Bank Finance?
title_full	Collateral Registries for Movable Assets : Does Their Introduction Spur Firms' Access to Bank Finance?
title_fullStr	Collateral Registries for Movable Assets : Does Their Introduction Spur Firms' Access to Bank Finance?
title_full_unstemmed	Collateral Registries for Movable Assets : Does Their Introduction Spur Firms' Access to Bank Finance?
title_sort	collateral registries for movable assets : does their introduction spur firms' access to bank finance?
publisher	World Bank, Washington, DC
publishDate	2013
url	http://documents.worldbank.org/curated/en/2013/06/17840507/collateral-registries-movable-assets-introduction-spur-firms-access-bank-finance http://hdl.handle.net/10986/15839
_version_	1764431583777914880

Collateral Registries for Movable Assets : Does Their Introduction Spur Firms' Access to Bank Finance?

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