Publication:
Financing Small and Medium-Size Enterprises with Factoring: Global Growth and its Potential in Eastern Europe

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dc.contributor.authorBakker, Marie H. R.
dc.contributor.authorKlapper, Leora
dc.contributor.authorUdell, Gregory F.
dc.date.accessioned2013-06-20T15:50:42Z
dc.date.available2013-06-20T15:50:42Z
dc.date.issued2004-05
dc.description.abstractFactoring is a form of asset-based finance where the credit is extended based on the value of the borrower's accounts receivable. In recent years factoring has experienced phenomenal growth and has become an important source of financing-especially short-term working capital-for small and medium-size enterprises and corporations, reaching a worldwide volume of 760 billion euro in 2003. Although the importance of factoring varies considerably around the world, it occurs in most countries and is growing especially quickly in many developing countries. The authors explore the advantages of factoring over other types of lending for firms in developing economies, and discuss the informational, legal, tax, and regulatory barriers to its growth. They also examine the role of factoring in the eight Eastern European countries that became EU members on May 1, 2004-the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, the Slovak Republic, and Slovenia, referred to as the EU 8. The authors conclude that factoring offers key advantages over other lending products and is likely to become more important in these countries, and suggest policies to accelerate its development.en
dc.identifierhttp://documents.worldbank.org/curated/en/2004/06/4964220/financing-small-medium-size-enterprises-factoring-global-growth-potential-eastern-europe
dc.identifier.doi10.1596/1813-9450-3342
dc.identifier.isbn83-89188-17-1
dc.identifier.urihttps://hdl.handle.net/10986/14059
dc.languageEnglish
dc.language.isoen_US
dc.publisherWarsaw: World Bank
dc.relation.ispartofseriesPolicy Research Working Paper;No.3342
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectACCOUNTS
dc.subjectASSETS
dc.subjectBAD DEBT
dc.subjectBANKRUPTCY
dc.subjectBORROWING
dc.subjectBUNDLING
dc.subjectCHECKING
dc.subjectCOLLECTION SERVICES
dc.subjectCOMMERCIAL CREDIT
dc.subjectCONTRACT ENFORCEMENT
dc.subjectCREDIT RISK
dc.subjectDEFAULT RISK
dc.subjectDEVELOPMENT ECONOMICS
dc.subjectECONOMICS
dc.subjectECONOMICS RESEARCH
dc.subjectECONOMIES OF SCALE
dc.subjectEMERGING MARKETS
dc.subjectEXPORTS
dc.subjectEXTERNAL FINANCING
dc.subjectFACE VALUE
dc.subjectFACTORING
dc.subjectFINANCIAL MARKETS
dc.subjectFINANCIAL SECTOR
dc.subjectFINANCIAL SYSTEMS
dc.subjectFIXED COSTS
dc.subjectFOREIGN COMPANIES
dc.subjectGDP
dc.subjectINSURANCE
dc.subjectINVENTORY
dc.subjectLAWS
dc.subjectLIABILITY
dc.subjectRELATIONSHIP LENDING
dc.subjectWORKING CAPITAL ACCOUNTING RULES
dc.subjectACCOUNTING STANDARDS
dc.subjectADVERSE SELECTION
dc.subjectASYMMETRIC INFORMATION
dc.subjectBAD DEBT
dc.subjectBALANCE SHEET
dc.subjectBORROWING
dc.subjectBUSINESS ENVIRONMENT
dc.subjectCASH ADVANCES
dc.subjectCOLLATERAL
dc.subjectCOLLECTION SERVICES
dc.subjectCOMMERCIAL CREDIT
dc.subjectCOMMERCIAL FINANCE
dc.subjectCONSUMER CREDIT
dc.subjectCONTRACT ENFORCEMENT
dc.subjectCREDIT INSURANCE
dc.subjectCREDIT RATIONING
dc.subjectCREDIT RISK
dc.subjectCURRENT ACCOUNTS
dc.subjectDEBT MARKETS
dc.subjectDOMESTIC FINANCING
dc.subjectEMERGING MARKETS
dc.subjectEQUITY INVESTMENTS
dc.subjectEXTERNAL FINANCING
dc.subjectFACTORING
dc.subjectFINANCIAL CONDITION
dc.subjectFINANCIAL INSTITUTIONS
dc.subjectFINANCIAL INTERMEDIARIES
dc.subjectFINANCIAL MARKETS
dc.subjectFINANCIAL RATIOS
dc.subjectFINANCIAL STATEMENTS
dc.subjectFINANCIAL SUPPORT
dc.subjectFINANCIAL SYSTEM
dc.subjectINFORMATION ASYMMETRY
dc.subjectINSURANCE INDUSTRY
dc.subjectINTEREST RATES
dc.subjectINVESTMENT DECISIONS
dc.subjectLIQUIDATION VALUE
dc.subjectPRIVATE DEBT
dc.subjectPRIVATE EQUITY
dc.subjectRELATIONSHIP LENDING
dc.subjectSECURED LENDING
dc.subjectSMALL BANKS
dc.subjectTANGIBLE ASSETS
dc.subjectTRADE CREDIT
dc.subjectVENTURE CAPITAL
dc.subjectWORKING CAPITAL
dc.titleFinancing Small and Medium-Size Enterprises with Factoring: Global Growth and its Potential in Eastern Europeen
dspace.entity.typePublication
okr.crossref.titleFinancing Small and Medium-Size Enterprises with Factoring: Global Growth and Its Potential in Eastern Europe
okr.date.doiregistration2025-04-10T09:50:07.491600Z
okr.doctypePublications & Research::Policy Research Working Paper
okr.doctypePublications & Research
okr.docurlhttp://documents.worldbank.org/curated/en/2004/06/4964220/financing-small-medium-size-enterprises-factoring-global-growth-potential-eastern-europe
okr.globalpracticeFinance and Markets
okr.globalpracticeGovernance
okr.globalpracticeFinance and Markets
okr.guid293341468770661333
okr.identifier.doi10.1596/1813-9450-3342
okr.identifier.externaldocumentum000112742_20040722174142
okr.identifier.internaldocumentum4964220
okr.identifier.reportWPS3342
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2004/07/22/000112742_20040722174142/Rendered/PDF/wps3342.pdfen
okr.region.administrativeEurope and Central Asia
okr.topicEconomic Theory and Research
okr.topicBanks and Banking Reform
okr.topicLaw and Development::Banking Law
okr.topicFinance and Financial Sector Development::Financial Intermediation
okr.topicInternational Terrorism and Counterterrorism
okr.topicPayment Systems and Infrastructure
okr.unitOff of Sr VP Dev Econ/Chief Econ (DECVP)
okr.volume1 of 1
relation.isAuthorOfPublicatione0a9502f-8574-53b5-bf27-732f5a6026e2
relation.isAuthorOfPublication.latestForDiscoverye0a9502f-8574-53b5-bf27-732f5a6026e2
relation.isSeriesOfPublication26e071dc-b0bf-409c-b982-df2970295c87
relation.isSeriesOfPublication.latestForDiscovery26e071dc-b0bf-409c-b982-df2970295c87
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