Bank Financing for SMEs: Evidence Across Countries and Bank-Ownership Types

Using data for 91 large banks from 45 countries, this paper finds few differences in the extent, type, and pricing of SME loans across foreign, private, and government-owned banks, even though different bank ownership types apply different lending technologies and have different organizational structures. Instead, we find significant differences across banks in developed and developing countries, driven by differences in the economic, institutional, and legal environment, as opposed to by differences in lending technologies and organizational structures. Finally, the link between lending technologies, organizational structures, and SME financing is not consistent with the conventional view that SME lending is based on “relationship lending”.Small and Medium Enterprises;Bank Ownership;Lending Technology;Access to Finance

Banking services for everyone? Barriers to bank access and use around the world.

[Dataset available: http://hdl.handle.net/10411/15982]

Foreign bank entry - experience, implications for developing countries, and agenda for further research

In recent years, foreign bank participation has increased tremendously in several developing countries. In Argentina, Chile, the Czech Republic, Hungary and Poland, for example, more than fifty percent of banking assets are now in foreign-controlled banks. In Asia, Africa, The Middle East, and the former Soviet Union, the rate of entry by foreign banks has been slower, but the trend is similar. Although the number of countries welcoming foreign banks is growing, many questions about foreign bank entry are still being debated, including: 1) What draws foreign banks to a country? 2) Which banks expand abroad? 3) What do foreign banks do once they arrive? 4) How does the mode of a bank's entry - for example, as a branch of its parent, or as an independent subsidiary company - affect its behavior? The authors summarize current knowledge on these issues. In addition, since the existing literature focuses heavily on industrial countries, they put forth an agenda for further study of the effects of foreign bank entry in developing countries.Financial Intermediation,Banks&Banking Reform,Payment Systems&Infrastructure,Financial Crisis Management&Restructuring,Banking Law,Banks&Banking Reform,Financial Intermediation,Financial Crisis Management&Restructuring,Banking Law,Municipal Financial Management

Bank lending to small businesses in Latin America : does Bank origin matter?

In recent years foreign bank participation has increased tremendously in Latin America. Some observers argue that foreign bank entry will benefit Latin American banking systems by reducing the volatility of loans and deposits and increasing efficiency. Others are concerned that foreign banks might choose to extend credit only to certain customers, leaving some sectors-such as small businesses-unserved. The authors examine this issue. Using bank-level data for Argentina, Chile, Colombia, and Peru during the mid-1990s, they empirically investigate whether bank origin affects the share and growth rate of bank lending to small businesses. They find that although foreign banks generally lent less to small businesses (as share of total lending) than private domestic banks, the difference is due primarily to the behavior of small foreign banks. The difference was considerably smaller for large and medium-sized banks. And in Chile and Colombia, large foreign banks might actually lend slightly more (as share of total lending) than large domestic banks.Financial Intermediation,Banks&Banking Reform,Financial Crisis Management&Restructuring,Payment Systems&Infrastructure,Economic Theory&Research,Banks&Banking Reform,Financial Intermediation,Financial Crisis Management&Restructuring,Economic Theory&Research,Banking Law

Banking services for everyone? Barriers to bank access and use around the world

Using information from 209 banks in 62 countries, we develop new indicators of barriers to banking services around the world, show their correlation with existing measures of outreach, and explore their association with other bank and country characteristics suggested by theory as potential determinants. Barriers such as minimum account and loan balances, account fees and documentation requirements are negatively correlated with outreach and these barriers exclude a large percentage of the population from using banking services in many countries. Factors associated with financial depth such as the effectiveness of credit information sharing, creditor rights and contract enforcement are highly correlated with barriers, but so are non-financial factors such as the development of the infrastructure and the extent of media freedom. More competitive banking systems and market-based supervisory policies are associated with lower barriers. Contrary to conventional wisdom, government banks are not associated with lower access barriers. Instead, bank customers face higher barriers to credit services in banking systems which are predominantly government-owned, while a larger share of foreign bank ownership is associated with lower barriers in deposit services

Banking financing for SME's:Evidence across countries and bank ownership types

Using data for 91 large banks from 45 countries, this paper finds that foreign, domestic private, and government-owned banks use different lending technologies and organizational structures for SME financing. The extent, type, and pricing of SME loans, however, is not strongly correlated with lending technologies and organizational structures, suggesting that SME financing need not be based only on “relationship lending”. Consistent with these results, we find few significant differences in the extent, type, and pricing of SME loans across bank types. Instead, we find significant differences across developed and developing countries, driven by differences in the institutional and legal environment

Electronic and magnetic phase diagrams of Kitaev quantum spin liquid candidate Na2_2Co2_2TeO6_6

The 3$d^7$ Co$^{2+}$-based insulating magnet \NCTO{} has recently been reported to have strong Kitaev interactions on a honeycomb lattice, and is thus being considered as a Kitaev quantum spin liquid candidate. However, due to the existence of other types of interactions, a spontaneous long-range magnetic order occurs. This order is suppressed by applied magnetic fields leading to a succession of phases and ultimately saturation of the magnetic moments. The precise phase diagram, the nature of the phases, and the possibility that one of the field-induced phases is a Kitaev quantum spin liquid phase are still a matter of debate. Here we measured an extensive set of physical properties to build the complete temperature-field phase diagrams to magnetic saturation at 10 T for magnetic fields along the $a$- and $a^*$-axes, and a partial phase diagram up to 60 T along $c$. We probe the phases using magnetization, specific heat, magnetocaloric effect, magnetostriction, dielectric constant, and electric polarization, which is a symmetry-sensitive probe. With these measurements we identify all the previously incomplete phase boundaries and find new high-field phase boundaries. We find strong magnetoelectric coupling in the dielectric constant and moderate magnetostrictive coupling at several phase boundaries. Furthermore, we detect the symmetry of the magnetic order using electrical polarization measurements under magnetic fields. Based on our analysis, the absence of electric polarization under zero or finite magnetic field in any of the phases or after...Comment: LA-UR-22-3257

Osteosarcoma arising from osteochondroma of the tibia: case report and cytogenetic findings

Osteochondroma is a cartilage capped benign tumor developing mainly at the juxta-epiphyseal region of long bones. The rate of malignant transformation, mainly into chondrosarcoma, is estimated to be less than 1-3%. Transformation into osteosarcoma is very rare and has been reported only thirteen times. There is little information on treatment and outcome. We report the case of a secondary osteosarcoma arising in the left tibia of a 23-year-old male, 10 years after the initial diagnosis of osteochondroma and after two partial resections. Malignant transformation occurred at the stalk and not at the cartilage cap, as would normally be expected. Chromosome banding analysis revealed the karyotype: 46,XY, t(3;13)(q21;q34) [2]/46,XY [18]. Records from additional cases will help determine the parameters that define these rare secondary bone lesions.Sao Paulo State Research Foundation (FAPESP)FAPESP (Sao Paulo State Research Foundation) [07/54236-4, 06/04827-3