A New Regime of SME Finance in Emerging Asia: Enhancing Access to Growth Capital and Policy Implications

Shigehiro Shinozaki ()
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Shigehiro Shinozaki: Financial Sector Specialist (SME Finance), Office of Regional Economic Integration Asian Development Bank, 6 ADB Avenue, Mandaluyong City, 1550 Metro Manila, Philippines

Journal of International Commerce, Economics and Policy (JICEP), 2014, vol. 05, issue 03, 1-27

Abstract: While finance is critical for small and medium-sized enterprises (SMEs) to survive and grow, most SMEs suffer from poor access to finance. Given the pronounced global financial uncertainty, stable access to appropriate funding sources has become even more difficult for SMEs to attain. Lessons from the global financial crisis have motivated many countries to consider SME access to finance beyond conventional bank credit and to diversify their domestic financial systems. This paper uses empirical analysis to point out the limitations of traditional bank lending to SMEs and suggests possible policy approaches facilitating them to access growth capital.

Keywords: Access to finance; bankability; diversified financing; financial inclusion; growth capital; SME finance; F36; G21; G28 (search for similar items in EconPapers)
Date: 2014
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Citations: View citations in EconPapers (2)

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DOI: 10.1142/S1793993314400109

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