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The British Business Bank's role in facilitating economic growth by addressing imperfections in SME finance markets

机译:英国商业银行通过解决中小企业金融市场的缺陷促进经济增长的作用

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This paper presents an overview of the establishment of the British Business Bank; a new government owned financial institution designed to change the structure of finance markets for smaller businesses, so that these markets work more effectively. The paper focuses on explaining the economic rationale for the Bank by identifying how business access to external finance can affect economic growth through facilitating increases in business investment and productivity. The paper provides an overview of recent cyclical trends in SME debt and equity markets, before identifying a number of specific structural market failures affecting different types of finance that prevents some viable SMEs from raising the finance they need. The paper then provides a description of how British Business Bank funding solutions can help to address these market failures.
机译:本文概述了英国商业银行的成立。一个新的政府所有的金融机构,旨在改变小型企业的金融市场结构,使这些市场更有效地运作。本文着重于通过确定企业获得外部融资的方式如何通过促进企业投资和生产率的提高来影响经济增长,来解释世行的经济原理。本文概述了中小企业债券和股票市场的最新周期性趋势,然后确定了一些影响不同类型金融的特定结构性市场失灵,从而阻止了一些可行的中小企业筹集所需的资金。然后,本文描述了英国商业银行的资金解决方案如何帮助解决这些市场失灵。

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