Akopyan O.A. Foreign Experience of Regulation of the Activity of Microfinance Institutions

Abstract: Questions of legal stimulation of the development of small business sector in Western countries, including by expanding the scope of microfinance services are researched as well as the implementation of the state policy in the field of stimulating the development of small business. Regulatory impact analysis of existing and newly adopted regulations in terms of their impact (or potential impact) on the segment of small and micro-enterprises in the Russian Federation is presented. Peculiarities of information provision and maintenance activities carried out within the framework of policies to encourage the development of small business are pointed out. The author gives the consideration of scientific views on a wide range of research questions of microfinance sphere, a detailed analysis of the legal conditions for the appearance and development of microfinance institute, the study of the legal regulation of microfinance in foreign countries. It was possible to identify the most promising forms of financial and credit support for small businesses, taking into account international experience: 1) issuance of guarantees on bank loans to small businesses; 2) interest rate subsidies on bank loans; 3) promotion of the leasing market; 4) encourage the development of venture capital market.

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