Financing of firms in developing countries: lessons from research

Meghana Ayyagari, Asli Demirguc-Kunt and Vojislav Maksimovic

No 6036, Policy Research Working Paper Series from The World Bank

Abstract: This paper reviews and synthesizes theoretical and empirical research on the role of finance in developing countries. First, the paper presents the stylized facts about firms in developing nations as well as the legal, financial and broader institutional framework in which these firms operate. Next, the paper focuses on the financing choices available to small and medium firms in developing countries and highlights areas needing additional research.

Keywords: Debt Markets; Access to Finance; Emerging Markets; Financial Literacy; Banks&Banking Reform (search for similar items in EconPapers)
Date: 2012-04-01
New Economics Papers: this item is included in nep-cwa and nep-ent
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Citations: View citations in EconPapers (27)

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