Publication detail

The theory and practice of government credit support

Author(s): prof. Ing. Karel Janda M.A., Dr., Ph.D.,
Type: Monograph
Year: 2008
Number:
ISSN / ISBN: v tisku
Published in:
Publishing place: Karolinum
Keywords: credit, support
JEL codes:
Suggested Citation:
Grants: 402/05/2123 (2005-2007) Efficiency of Financial Markets and New Basel Capital Accord (NBCA) IES Research Framework Institutional task (2005-2011) Integration of the Czech economy into European union and its development
Abstract: The monograph is composed both from chapters dealing with practical aspects of credit support provision and from chapters dealing with their theoretical modeling. The practically oriented chapters of the monograph provide the description of particular institutions dealing with the credit support provision in the Czech Republic. The book briefly describes the activities of guarantee and development banking which are accomplished by the Czech-Moravian Guarantee and Development Bank in all branches of the Czech economy with the exception of the food production and distribution vertical. The credit support of entrepreneurs engaged in these industries is covered in detail in the chapters devoted to the Support and Guarantee Agricultural and Forestry Fund and to other institutions of credit support in the agro-food vertical. The monograph is also dealing with the support of export credits provided by the Czech Export Bank and the Export Guarantee and Insurance Corporation and by specific support programs of European Union. Out of all these areas of government credit support the particular attention is given to the agricultural and food industry supports provided by the Support and Guarantee Agricultural and Forestry Fund. The theoretically oriented chapters analyze the provision of government credit support under the conditions of information asymmetry between lenders and borrowers. The theoretical model is developed and applied to different credit markets distinguished by different market power of commercial banks. The theoretical model, which we use in this book, concentrates on different forms of information asymmetry alleviation by the use of collateral and credit rationing. The attention is devoted to the comparison of the efficiency of particular considered forms of government credit support and to their influence on the volume of government budget finances required for the implementation of these interventions.

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