The American Framework of Guarantee Systems/Schemes? Main Concepts and Characteristics

Abstract

Literature hasn’t forgotten the study of guarantee systems/schemes, their configuration, characteristics, nor the nature of their impact. It is, in fact, a matter recently studied by multilateral organisms, though more in isolated consultancy questions, than through scientific methodology. Our paper attempts to describe features found in American guarantee systems. As a followup to a previous study on Europe (Pombo, Molina & Ram´ ırez, 2006b), when we compare both, the new one offers a heterogeneous set of points of view and ideas, with different possibilities. Results show us that current American systems are established upon legal forms within the public spectrum, with a strong presence of the public sector and a small role of the business and financial sector. This will determine some of the operational features of these systems.