Gaps in Small to Medium-Sized Enterprise Policy Implementation: The Case of The Italian Central Guarantee Fund

In the search of better policy tools, governments have begun to promote the development of public-private partnerships (PPPs) involving firms, financial institutions and public managers to provide a better financial support for SMEs growth. This chapter uses the Managerial Flow framework to analyse the role of strategy, coordination, selection, governance and knowledge management in the context of SMEs financing in Italy. The study focuses on the role of the Italian Central Guarantee Fund (CGF) and its partnering role in developing italian SMEs. We focus on the CGF's guarantee role in the process of bank lending for SMEs using the Managerial Flow framework of Vecchi and Brusoni (2012), we identify the gaps in the design and execution of the Italian CGF policy.