Peru - Developing New Structured Financial Products to Channel Savings Towards Small and Medium Enterprises (SMEs) Growth
The objective of this study is to contribute to the development of new structured financial products in Peru, in particular as means to address the problems of access to finance faced by underserved segments such as Small and Medium Enterprises (SM...
| Main Author: | |
|---|---|
| Format: | Other Financial Sector Study |
| Language: | English |
| Published: |
World Bank
2012
|
| Subjects: | |
| Online Access: | http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000350881_20090429132730 http://hdl.handle.net/10986/3039 |
| id |
okr-10986-3039 |
|---|---|
| recordtype |
oai_dc |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English |
| topic |
ACCESS TO CAPITAL ACCESS TO FINANCING ACCOUNTING ACCOUNTS RECEIVABLE ACCOUNTS RECEIVABLES ASSET POOLS ASSET-BACKED SECURITIES BALANCE SHEETS BANK ACCOUNT BANK BRANCHES BANK CREDIT BANK FINANCING BANK LOAN BANK LOANS BANK PORTFOLIOS BANKING MARKET BANKING SECTOR BANKING SYSTEM BANKRUPTCIES BENCHMARK YIELD BENCHMARK YIELD CURVE BLUE CHIPS BORROWER BROKERAGE BUSINESS CYCLES CAPITAL INVESTMENT CAPITAL MARKET CAPITAL MARKET REFORMS CAPITAL MARKETS CAPITAL STRUCTURE CASH FLOW CASH FLOWS COLLATERAL COLLATERAL REQUIREMENT COLLATERAL REQUIREMENTS COMMERCIAL BANK COMMERCIAL BANKS COMMERCIAL CREDIT CORPORATE BOND CORPORATE BOND ISSUANCE CORPORATE BONDS CORPORATE GOVERNANCE CREDIT CONSTRAINTS CREDIT ENHANCEMENTS CREDIT HISTORY CREDIT INFORMATION CREDIT INFORMATION SYSTEMS CREDIT LINES CREDIT MARKET CREDIT QUALITY CREDIT RATING CREDIT RISK CREDIT UNIONS CREDITWORTHINESS DEBT DEBT INSTRUMENTS DEBT ISSUANCE DEBT ISSUES DEBT MANAGEMENT DEMAND FOR CREDIT DEPOSITS DEVELOPMENT BANK DOMESTIC BOND DOMESTIC BOND MARKET DOMESTIC BOND MARKETS DOMESTIC CREDIT DOMESTIC MARKET EMERGING MARKETS ENTERPRISE CREDIT ENTERPRISE FINANCING EQUIPMENT EQUITY MARKETS EXCHANGE RATE EXPENDITURE EXPORT SHARE FINANCIAL DEVELOPMENT FINANCIAL INFRASTRUCTURE FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENTS FINANCIAL LIBERALIZATION FINANCIAL MARKETS FINANCIAL STATEMENTS FINANCIAL SYSTEM FINANCIAL SYSTEMS FIXED ASSET FIXED ASSETS FIXED INCOME FIXED INCOME MARKET FIXED INTEREST FIXED INTEREST RATE FOREIGN BANKS FRAUD FUND MANAGERS FUTURE CASH FLOW GOVERNMENT SUPPORT HOLDINGS HOUSING FINANCE INCOME INSTRUMENTS INFORMAL LENDERS INFORMATION ASYMMETRY INSTITUTIONAL INVESTOR INSTITUTIONAL INVESTORS INSTRUMENT INSURANCE INSURANCE COMPANIES INTEREST RATE INTEREST RATES INTERNATIONAL CAPITAL INTERNATIONAL CAPITAL MARKETS INTERNATIONAL FINANCIAL CRISES INTERNATIONAL INVESTORS INTERNATIONAL SETTLEMENTS INVESTMENT BANKING INVESTMENT FINANCING INVESTMENT FUND INVESTMENT IN SECURITIES INVESTMENT INSTRUMENTS INVESTMENT PORTFOLIO ISSUANCE ISSUANCE OF BONDS ISSUANCES LIEN LINE OF CREDIT LINES OF CREDIT LIQUIDITY LOAN LOAN AMOUNT LOAN AMOUNTS LOAN APPLICATION LOAN APPLICATIONS LOAN MATURITIES LOAN MATURITY LOAN OBLIGATIONS LOAN PORTFOLIO LOAN PORTFOLIOS LOAN RATES LOAN SIZE LOAN SIZES LOCAL CURRENCY LOCAL GOVERNMENTS LONG TERM CAPITAL LONG-TERM FINANCE LONG-TERM INVESTMENT LONG-TERM INVESTORS LONG-TERM MATURITY MACROECONOMIC STABILITY MARKET ANALYSTS MARKET CAP MARKET DEVELOPMENT MARKET ENVIRONMENT MARKET PARTICIPANTS MARKET SHARE MARKET SIZE MARKETABLE SECURITIES MATURITY MICRO BORROWERS MICRO ENTERPRISE MICRO ENTERPRISES MICRO LOANS MICRO-ENTERPRISES MICROCREDIT MICROENTERPRISES MICROFINANCE MICROFINANCE INSTITUTIONS MONEY LENDER MONEY LENDERS MORTGAGE MORTGAGE LOANS MORTGAGE-BACKED SECURITIES MUTUAL FUNDS OFFSHORE FINANCIAL CENTER OUTSTANDING LOANS OVERDRAFT FACILITIES OVERDRAFT FACILITY PENSION PENSION FUND PENSION FUND REFORMS PENSION FUNDS PENSION SYSTEMS PORTFOLIO POTENTIAL INVESTORS PRIVATE CREDIT PRIVATE CREDIT BUREAUS PRIVATE EQUITY PRIVATE REGISTRIES PUBLIC DEBT PUBLIC REGISTRIES PUBLIC SECTOR BONDS REGULATORY CONSTRAINTS RESERVE RISK POOLING SAVINGS ACCOUNT SAVINGS BANKS SECURITIES SECURITIES LAW SECURITIES MARKETS SHORT MATURITY SHORT-TERM INSTRUMENTS SMALL BORROWERS SMALL BUSINESS SMALL LOAN SOVEREIGN ENTITIES STOCK EXCHANGE STOCK MARKET STOCK MARKET CAPITALIZATION STOCK MARKETS STOCKS TAX TRADE CREDIT TRADING TRANSACTION TRANSACTION COSTS TRANSACTIONS COSTS TURNOVER UNACCEPTABLE COLLATERAL UNDERLYING ASSETS VALUATIONS WORKING CAPITAL |
| spellingShingle |
ACCESS TO CAPITAL ACCESS TO FINANCING ACCOUNTING ACCOUNTS RECEIVABLE ACCOUNTS RECEIVABLES ASSET POOLS ASSET-BACKED SECURITIES BALANCE SHEETS BANK ACCOUNT BANK BRANCHES BANK CREDIT BANK FINANCING BANK LOAN BANK LOANS BANK PORTFOLIOS BANKING MARKET BANKING SECTOR BANKING SYSTEM BANKRUPTCIES BENCHMARK YIELD BENCHMARK YIELD CURVE BLUE CHIPS BORROWER BROKERAGE BUSINESS CYCLES CAPITAL INVESTMENT CAPITAL MARKET CAPITAL MARKET REFORMS CAPITAL MARKETS CAPITAL STRUCTURE CASH FLOW CASH FLOWS COLLATERAL COLLATERAL REQUIREMENT COLLATERAL REQUIREMENTS COMMERCIAL BANK COMMERCIAL BANKS COMMERCIAL CREDIT CORPORATE BOND CORPORATE BOND ISSUANCE CORPORATE BONDS CORPORATE GOVERNANCE CREDIT CONSTRAINTS CREDIT ENHANCEMENTS CREDIT HISTORY CREDIT INFORMATION CREDIT INFORMATION SYSTEMS CREDIT LINES CREDIT MARKET CREDIT QUALITY CREDIT RATING CREDIT RISK CREDIT UNIONS CREDITWORTHINESS DEBT DEBT INSTRUMENTS DEBT ISSUANCE DEBT ISSUES DEBT MANAGEMENT DEMAND FOR CREDIT DEPOSITS DEVELOPMENT BANK DOMESTIC BOND DOMESTIC BOND MARKET DOMESTIC BOND MARKETS DOMESTIC CREDIT DOMESTIC MARKET EMERGING MARKETS ENTERPRISE CREDIT ENTERPRISE FINANCING EQUIPMENT EQUITY MARKETS EXCHANGE RATE EXPENDITURE EXPORT SHARE FINANCIAL DEVELOPMENT FINANCIAL INFRASTRUCTURE FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENTS FINANCIAL LIBERALIZATION FINANCIAL MARKETS FINANCIAL STATEMENTS FINANCIAL SYSTEM FINANCIAL SYSTEMS FIXED ASSET FIXED ASSETS FIXED INCOME FIXED INCOME MARKET FIXED INTEREST FIXED INTEREST RATE FOREIGN BANKS FRAUD FUND MANAGERS FUTURE CASH FLOW GOVERNMENT SUPPORT HOLDINGS HOUSING FINANCE INCOME INSTRUMENTS INFORMAL LENDERS INFORMATION ASYMMETRY INSTITUTIONAL INVESTOR INSTITUTIONAL INVESTORS INSTRUMENT INSURANCE INSURANCE COMPANIES INTEREST RATE INTEREST RATES INTERNATIONAL CAPITAL INTERNATIONAL CAPITAL MARKETS INTERNATIONAL FINANCIAL CRISES INTERNATIONAL INVESTORS INTERNATIONAL SETTLEMENTS INVESTMENT BANKING INVESTMENT FINANCING INVESTMENT FUND INVESTMENT IN SECURITIES INVESTMENT INSTRUMENTS INVESTMENT PORTFOLIO ISSUANCE ISSUANCE OF BONDS ISSUANCES LIEN LINE OF CREDIT LINES OF CREDIT LIQUIDITY LOAN LOAN AMOUNT LOAN AMOUNTS LOAN APPLICATION LOAN APPLICATIONS LOAN MATURITIES LOAN MATURITY LOAN OBLIGATIONS LOAN PORTFOLIO LOAN PORTFOLIOS LOAN RATES LOAN SIZE LOAN SIZES LOCAL CURRENCY LOCAL GOVERNMENTS LONG TERM CAPITAL LONG-TERM FINANCE LONG-TERM INVESTMENT LONG-TERM INVESTORS LONG-TERM MATURITY MACROECONOMIC STABILITY MARKET ANALYSTS MARKET CAP MARKET DEVELOPMENT MARKET ENVIRONMENT MARKET PARTICIPANTS MARKET SHARE MARKET SIZE MARKETABLE SECURITIES MATURITY MICRO BORROWERS MICRO ENTERPRISE MICRO ENTERPRISES MICRO LOANS MICRO-ENTERPRISES MICROCREDIT MICROENTERPRISES MICROFINANCE MICROFINANCE INSTITUTIONS MONEY LENDER MONEY LENDERS MORTGAGE MORTGAGE LOANS MORTGAGE-BACKED SECURITIES MUTUAL FUNDS OFFSHORE FINANCIAL CENTER OUTSTANDING LOANS OVERDRAFT FACILITIES OVERDRAFT FACILITY PENSION PENSION FUND PENSION FUND REFORMS PENSION FUNDS PENSION SYSTEMS PORTFOLIO POTENTIAL INVESTORS PRIVATE CREDIT PRIVATE CREDIT BUREAUS PRIVATE EQUITY PRIVATE REGISTRIES PUBLIC DEBT PUBLIC REGISTRIES PUBLIC SECTOR BONDS REGULATORY CONSTRAINTS RESERVE RISK POOLING SAVINGS ACCOUNT SAVINGS BANKS SECURITIES SECURITIES LAW SECURITIES MARKETS SHORT MATURITY SHORT-TERM INSTRUMENTS SMALL BORROWERS SMALL BUSINESS SMALL LOAN SOVEREIGN ENTITIES STOCK EXCHANGE STOCK MARKET STOCK MARKET CAPITALIZATION STOCK MARKETS STOCKS TAX TRADE CREDIT TRADING TRANSACTION TRANSACTION COSTS TRANSACTIONS COSTS TURNOVER UNACCEPTABLE COLLATERAL UNDERLYING ASSETS VALUATIONS WORKING CAPITAL World Bank Peru - Developing New Structured Financial Products to Channel Savings Towards Small and Medium Enterprises (SMEs) Growth |
| geographic_facet |
Latin America & Caribbean South America America Peru |
| description |
The objective of this study is to
contribute to the development of new structured financial
products in Peru, in particular as means to address the
problems of access to finance faced by underserved segments
such as Small and Medium Enterprises (SMEs). This document
reviews how structured financial products can provide an
alternative channel for SMEs to access the market.
Additionally it provides suggestions regarding policy issues
aimed at improving the market environment. The study
concludes that: (i) one way to effectively address Peruvian
SMEs credit constraints, particularly with respect to longer
term financing, is the use of structured products and (ii)
although the Peruvian capital markets regulatory framework
regarding securitization has become more flexible in recent
years, and despite being one of the least restrictive in the
region, it still shows significant weaknesses. |
| format |
Economic & Sector Work :: Other Financial Sector Study |
| author |
World Bank |
| author_facet |
World Bank |
| author_sort |
World Bank |
| title |
Peru - Developing New Structured Financial Products to Channel Savings Towards Small and Medium Enterprises (SMEs) Growth |
| title_short |
Peru - Developing New Structured Financial Products to Channel Savings Towards Small and Medium Enterprises (SMEs) Growth |
| title_full |
Peru - Developing New Structured Financial Products to Channel Savings Towards Small and Medium Enterprises (SMEs) Growth |
| title_fullStr |
Peru - Developing New Structured Financial Products to Channel Savings Towards Small and Medium Enterprises (SMEs) Growth |
| title_full_unstemmed |
Peru - Developing New Structured Financial Products to Channel Savings Towards Small and Medium Enterprises (SMEs) Growth |
| title_sort |
peru - developing new structured financial products to channel savings towards small and medium enterprises (smes) growth |
| publisher |
World Bank |
| publishDate |
2012 |
| url |
http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000350881_20090429132730 http://hdl.handle.net/10986/3039 |
| _version_ |
1764386375390461952 |
| spelling |
okr-10986-30392021-04-23T14:02:06Z Peru - Developing New Structured Financial Products to Channel Savings Towards Small and Medium Enterprises (SMEs) Growth World Bank ACCESS TO CAPITAL ACCESS TO FINANCING ACCOUNTING ACCOUNTS RECEIVABLE ACCOUNTS RECEIVABLES ASSET POOLS ASSET-BACKED SECURITIES BALANCE SHEETS BANK ACCOUNT BANK BRANCHES BANK CREDIT BANK FINANCING BANK LOAN BANK LOANS BANK PORTFOLIOS BANKING MARKET BANKING SECTOR BANKING SYSTEM BANKRUPTCIES BENCHMARK YIELD BENCHMARK YIELD CURVE BLUE CHIPS BORROWER BROKERAGE BUSINESS CYCLES CAPITAL INVESTMENT CAPITAL MARKET CAPITAL MARKET REFORMS CAPITAL MARKETS CAPITAL STRUCTURE CASH FLOW CASH FLOWS COLLATERAL COLLATERAL REQUIREMENT COLLATERAL REQUIREMENTS COMMERCIAL BANK COMMERCIAL BANKS COMMERCIAL CREDIT CORPORATE BOND CORPORATE BOND ISSUANCE CORPORATE BONDS CORPORATE GOVERNANCE CREDIT CONSTRAINTS CREDIT ENHANCEMENTS CREDIT HISTORY CREDIT INFORMATION CREDIT INFORMATION SYSTEMS CREDIT LINES CREDIT MARKET CREDIT QUALITY CREDIT RATING CREDIT RISK CREDIT UNIONS CREDITWORTHINESS DEBT DEBT INSTRUMENTS DEBT ISSUANCE DEBT ISSUES DEBT MANAGEMENT DEMAND FOR CREDIT DEPOSITS DEVELOPMENT BANK DOMESTIC BOND DOMESTIC BOND MARKET DOMESTIC BOND MARKETS DOMESTIC CREDIT DOMESTIC MARKET EMERGING MARKETS ENTERPRISE CREDIT ENTERPRISE FINANCING EQUIPMENT EQUITY MARKETS EXCHANGE RATE EXPENDITURE EXPORT SHARE FINANCIAL DEVELOPMENT FINANCIAL INFRASTRUCTURE FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENTS FINANCIAL LIBERALIZATION FINANCIAL MARKETS FINANCIAL STATEMENTS FINANCIAL SYSTEM FINANCIAL SYSTEMS FIXED ASSET FIXED ASSETS FIXED INCOME FIXED INCOME MARKET FIXED INTEREST FIXED INTEREST RATE FOREIGN BANKS FRAUD FUND MANAGERS FUTURE CASH FLOW GOVERNMENT SUPPORT HOLDINGS HOUSING FINANCE INCOME INSTRUMENTS INFORMAL LENDERS INFORMATION ASYMMETRY INSTITUTIONAL INVESTOR INSTITUTIONAL INVESTORS INSTRUMENT INSURANCE INSURANCE COMPANIES INTEREST RATE INTEREST RATES INTERNATIONAL CAPITAL INTERNATIONAL CAPITAL MARKETS INTERNATIONAL FINANCIAL CRISES INTERNATIONAL INVESTORS INTERNATIONAL SETTLEMENTS INVESTMENT BANKING INVESTMENT FINANCING INVESTMENT FUND INVESTMENT IN SECURITIES INVESTMENT INSTRUMENTS INVESTMENT PORTFOLIO ISSUANCE ISSUANCE OF BONDS ISSUANCES LIEN LINE OF CREDIT LINES OF CREDIT LIQUIDITY LOAN LOAN AMOUNT LOAN AMOUNTS LOAN APPLICATION LOAN APPLICATIONS LOAN MATURITIES LOAN MATURITY LOAN OBLIGATIONS LOAN PORTFOLIO LOAN PORTFOLIOS LOAN RATES LOAN SIZE LOAN SIZES LOCAL CURRENCY LOCAL GOVERNMENTS LONG TERM CAPITAL LONG-TERM FINANCE LONG-TERM INVESTMENT LONG-TERM INVESTORS LONG-TERM MATURITY MACROECONOMIC STABILITY MARKET ANALYSTS MARKET CAP MARKET DEVELOPMENT MARKET ENVIRONMENT MARKET PARTICIPANTS MARKET SHARE MARKET SIZE MARKETABLE SECURITIES MATURITY MICRO BORROWERS MICRO ENTERPRISE MICRO ENTERPRISES MICRO LOANS MICRO-ENTERPRISES MICROCREDIT MICROENTERPRISES MICROFINANCE MICROFINANCE INSTITUTIONS MONEY LENDER MONEY LENDERS MORTGAGE MORTGAGE LOANS MORTGAGE-BACKED SECURITIES MUTUAL FUNDS OFFSHORE FINANCIAL CENTER OUTSTANDING LOANS OVERDRAFT FACILITIES OVERDRAFT FACILITY PENSION PENSION FUND PENSION FUND REFORMS PENSION FUNDS PENSION SYSTEMS PORTFOLIO POTENTIAL INVESTORS PRIVATE CREDIT PRIVATE CREDIT BUREAUS PRIVATE EQUITY PRIVATE REGISTRIES PUBLIC DEBT PUBLIC REGISTRIES PUBLIC SECTOR BONDS REGULATORY CONSTRAINTS RESERVE RISK POOLING SAVINGS ACCOUNT SAVINGS BANKS SECURITIES SECURITIES LAW SECURITIES MARKETS SHORT MATURITY SHORT-TERM INSTRUMENTS SMALL BORROWERS SMALL BUSINESS SMALL LOAN SOVEREIGN ENTITIES STOCK EXCHANGE STOCK MARKET STOCK MARKET CAPITALIZATION STOCK MARKETS STOCKS TAX TRADE CREDIT TRADING TRANSACTION TRANSACTION COSTS TRANSACTIONS COSTS TURNOVER UNACCEPTABLE COLLATERAL UNDERLYING ASSETS VALUATIONS WORKING CAPITAL The objective of this study is to contribute to the development of new structured financial products in Peru, in particular as means to address the problems of access to finance faced by underserved segments such as Small and Medium Enterprises (SMEs). This document reviews how structured financial products can provide an alternative channel for SMEs to access the market. Additionally it provides suggestions regarding policy issues aimed at improving the market environment. The study concludes that: (i) one way to effectively address Peruvian SMEs credit constraints, particularly with respect to longer term financing, is the use of structured products and (ii) although the Peruvian capital markets regulatory framework regarding securitization has become more flexible in recent years, and despite being one of the least restrictive in the region, it still shows significant weaknesses. 2012-03-19T17:23:00Z 2012-03-19T17:23:00Z 2009-02-02 http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000350881_20090429132730 http://hdl.handle.net/10986/3039 English CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank Economic & Sector Work :: Other Financial Sector Study Latin America & Caribbean South America America Peru |