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O sistema de garantias ao financiamento: realidade de Angola e Portugal
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O Sistema de Garantias ao financiamento desempenha um papel muito relevante para a melhoria do acesso ao crédito das PME´s, onde a perceção de risco de incumprimento é maior. Este trabalho de investigação, analisa e compara o sistema de garantias ao
financiamento existente em Portugal (garantia mútua) e em Angola (garantia pública),países com graus de desenvolvimento diferentes da sua economia e do sistema financeiro, procurando avaliar o seu papel no financiamento empresarial em contextos económicos e institucionais distintos. Foram testadas três hipóteses: H1 – Assumindo que sistema financeiro português está mais desenvolvido e virado para o financiamento da economia real e as garantias ao crédito são importantes para redução do risco de crédito dos bancos. Vamos testar a hipótese que o peso das garantias no total dos empréstimos concedidos pelos bancos é maior em Portugal do que em Angola. H2 – Dado o contexto diferente dos dois países, vamos testar a hipótese, de que o incumprimento global na banca é maior em Angola que em Portugal e que a sinistralidade nas Garantias também é maior em Angola que em Portugal. H3 –o montante médio dado por garantia é semelhante nos dois países. A investigação utilizou dados do Banco de Portugal, das sociedades de garantia mútua portuguesas, bem como relatórios do Banco Nacional de Angola e do FGC (Fundo
de Garantia de Crédito). Os resultados obtidos demostraram que as duas primeiras hipóteses foram validadas e a terceira hipótese não foi validada (resultado da recente estratégia implementada em Angola de usar o sistema de garantias para os financiamentos
das sociedades de microcrédito).
The Credit Guarantee System plays a very important role in improving access to finance for SMEs, where the perception of default risk is higher. This research analyses and compares the existing financing guarantee systems in Portugal (mutual guarantee) and Angola (public guarantee), countries with different levels of economic and financial system development, seeking to assess their role in business financing in different economic and institutional contexts. Three hypotheses were tested: H1 – Assuming thatthe Portuguese financial system is more developed and geared towards financing the real economy, and that credit guarantees are important for reducing banks' credit risk. We will test the hypothesis that the weight of guarantees in total loans granted by banks is greater in Portugal than in Angola. H2 – Given the different contexts of the two countries, we will test the hypothesis that overall default in banking is higher in Angola than in Portugal and that the loss ratio on guarantees is also higher in Angola than in Portugal. H3 – The average amount given per guarantee is similar in both countries. The research used data from the Bank of Portugal, Portuguese mutual guarantee companies, as well as reports from the National Bank of Angola and the FGC (Credit Guarantee Fund). The results confirmed that the first two hypotheses were validated and the third hypothesis was not validated ( as a result of the recent strategy implemented in Angola to use the Credit Guarantee System for microcredit financing).
The Credit Guarantee System plays a very important role in improving access to finance for SMEs, where the perception of default risk is higher. This research analyses and compares the existing financing guarantee systems in Portugal (mutual guarantee) and Angola (public guarantee), countries with different levels of economic and financial system development, seeking to assess their role in business financing in different economic and institutional contexts. Three hypotheses were tested: H1 – Assuming thatthe Portuguese financial system is more developed and geared towards financing the real economy, and that credit guarantees are important for reducing banks' credit risk. We will test the hypothesis that the weight of guarantees in total loans granted by banks is greater in Portugal than in Angola. H2 – Given the different contexts of the two countries, we will test the hypothesis that overall default in banking is higher in Angola than in Portugal and that the loss ratio on guarantees is also higher in Angola than in Portugal. H3 – The average amount given per guarantee is similar in both countries. The research used data from the Bank of Portugal, Portuguese mutual guarantee companies, as well as reports from the National Bank of Angola and the FGC (Credit Guarantee Fund). The results confirmed that the first two hypotheses were validated and the third hypothesis was not validated ( as a result of the recent strategy implemented in Angola to use the Credit Guarantee System for microcredit financing).
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Palavras-chave
Garantia Mútua Financiamento às PME Angola Portugal Mutual Guarantee