How Important Are Financing Constraints The Role Of Finance In The Business Environment
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How Important Are Financing Constraints The Role Of Finance In The Business Environment
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Author : Meghana Ayyagari
language : en
Publisher: World Bank Publications
Release Date : 2006
How Important Are Financing Constraints The Role Of Finance In The Business Environment written by Meghana Ayyagari and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with Business enterprises categories.
What role does the business environment play in promoting and restraining firm growth? Recent literature points to a number of factors as obstacles to growth. Inefficient functioning of financial markets, inadequate security and enforcement of property rights, poor provision of infrastructure, inefficient regulation and taxation, and broader governance features such as corruption and macroeconomic stability are discussed without any comparative evidence on their ordering. In this paper, the authors use firm level survey data to present evidence on the relative importance of different features of the business environment. They find that although firms report many obstacles to growth, not all the obstacles are equally constraining. Some affect firm growth only indirectly through their influence on other obstacles, or not at all. Using Directed Acyclic Graph methodology as well as regressions, the authors find that only obstacles related to finance, crime, and political instability directly affect the growth rate of firms. Robustness tests further show that the finance result is the most robust of the three. These results have important policy implications for the priority of reform efforts. They show that maintaining political stability, keeping crime under control, and undertaking financial sector reforms to relax financing constraints are likely to be the most effective routes to promote firm growth.
How Important Are Financing Constraints The Role Of Finance In The Business Environment
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Author : Meghana Ayyagari
language : en
Publisher:
Release Date : 2012
How Important Are Financing Constraints The Role Of Finance In The Business Environment written by Meghana Ayyagari and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012 with categories.
What role does the business environment play in promoting and restraining firm growth? Recent literature points to a number of factors as obstacles to growth. Inefficient functioning of financial markets, inadequate security and enforcement of property rights, poor provision of infrastructure, inefficient regulation and taxation, and broader governance features such as corruption and macroeconomic stability are all discussed without any comparative evidence on their ordering. In this paper, we use firm level survey data to present evidence on the relative importance of different features of the business environment. We find that although firms report many obstacles to growth, not all the obstacles are equally constraining. Some affect firm growth only indirectly through their influence on other obstacles, or not at all. Using Directed Acyclic Graph (DAG) methodology as well as regressions, we find that only obstacles related to Finance, Crime and Policy Instability directly affect the growth rate of firms. Robustness tests further show that the Finance result is the most robust of the three. These results have important policy implications for the priority of reform efforts. Our results show that maintaining policy stability, keeping crime under control, and undertaking financial sector reforms to relax financing constraints are likely to be the most effective routes to promote firm growth.
How Important Are Financing Constraints The Role Of Finance In The Business Environment
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Author : Meghana Ayyagari
language : en
Publisher:
Release Date : 2008
How Important Are Financing Constraints The Role Of Finance In The Business Environment written by Meghana Ayyagari and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with categories.
How Important Are Financing Constraints The Role Of Finance In The Business Environment
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Author : Meghana Ayyagari
language : en
Publisher:
Release Date : 2016
How Important Are Financing Constraints The Role Of Finance In The Business Environment written by Meghana Ayyagari and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with categories.
What role does the business environment play in promoting and restraining firm growth? Recent literature points to a number of factors as obstacles to growth. Inefficient functioning of financial markets, inadequate security and enforcement of property rights, poor provision of infrastructure, inefficient regulation and taxation, and broader governance features such as corruption and macroeconomic stability are all discussed without any comparative evidence on their ordering. In this paper, we use firm level survey data to present evidence on the relative importance of different features of the business environment. We find that although firms report many obstacles to growth, not all the obstacles are equally constraining. Some affect firm growth only indirectly through their influence on other obstacles, or not at all. Using Directed Acyclic Graph (DAG) methodology as well as regressions, we find that only obstacles related to Finance, Crime and Policy Instability directly affect the growth rate of firms. Robustness tests further show that the Finance result is the most robust of the three. These results have important policy implications for the priority of reform efforts. Our results show that maintaining policy stability, keeping crime under control, and undertaking financial sector reforms to relax financing constraints are likely to be the most effective routes to promote firm growth.
Small Firm Ownership And Credit Constraints In India
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Author : Rajesh Raj S. N.
language : en
Publisher: Taylor & Francis
Release Date : 2020-12-23
Small Firm Ownership And Credit Constraints In India written by Rajesh Raj S. N. and has been published by Taylor & Francis this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-12-23 with Business & Economics categories.
Micro, small and medium enterprises (MSMEs) are considered the backbone of the Indian economy, but limited access to external finance can be a major constraint which hinders their growth and productivity. This barrier acts as a double-edged sword in the case of women and socially disadvantaged owners who are also subjected to discrimination in credit markets. This book investigates the role of credit constraints in determining the performance of MSMEs in India and considers how gender- and caste-based prejudices influence and inform a firm owner’s access to formal credit. Combining micro-econometric techniques with large-scale firm surveys, it offers readers new findings, which shed light on the effect of ownership characteristics on credit access and firm performance. It also examines recent credit policy initiatives aimed at weaker sections of society including Scheduled Caste (SC), Scheduled Tribe (ST) and women-owned enterprises and puts forward valuable policy recommendations. This volume will serve as a useful reference text for students and researchers of economics, finance, business and management, entrepreneurship, credit policy, development economics, caste discrimination, gender discrimination and South Asian studies.
Financial Inclusion Innovation And Investments
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Author : Ralph D. Christy
language : en
Publisher: World Scientific
Release Date : 2011
Financial Inclusion Innovation And Investments written by Ralph D. Christy and has been published by World Scientific this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011 with Business & Economics categories.
This book is a state-of-the-art discussion of what has succeeded (and failed) in the design and implementation of projects and institutions to assist the poor in developing country economies. In Africa especially, far too many people are still living under conditions of extreme poverty. The goal of the book is twofold: (1) to identify and assess the key processes through which markets affect the livelihoods of the rural poor; and (2) to propose micro- and macro-level policies and innovations to address the problems of inclusion that arise. Featuring contributions from leading scholars and professionals in the field, this volume is timely to all those involved in designing innovative institutions that transfer capital and technologies to low-income countries facing the challenges of poverty alleviation and economic development.
Human Capital And Assets In The Networked World
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Author : Meir Russ
language : en
Publisher: Emerald Group Publishing
Release Date : 2017-09-08
Human Capital And Assets In The Networked World written by Meir Russ and has been published by Emerald Group Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-09-08 with Business & Economics categories.
This book provides researchers and students in all disciplines of management with a wide-ranging reference, as well as will provide new insights of developing and managing talent in the the new networked economy that could be applied by interested advanced practitioners to augment company success.
The Economics Of Small Businesses
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Author : Giorgio Calcagnini
language : en
Publisher: Springer Science & Business Media
Release Date : 2011-01-07
The Economics Of Small Businesses written by Giorgio Calcagnini and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-01-07 with Political Science categories.
Is small still beautiful? The recent economic and financial crisis has shown that developed countries in which firms are smaller suffered the biggest GDP plunges. Today, economic growth depends more than in the past on sound and well-organized firms, which means more innovation, a better educated labor force, higher likelihood of access to financial resources and efficient investments. This does not mean the end of small-sized firms, but that they need to be different from the way they were in the past. This book provides an international perspective on analyses and policy recommendations for how small businesses can reinforce their role in modern economies.
Credit Constraints Organizational Choice And Returns To Capital Evidence From A Rural Industrial Cluster In China
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Author : Jianqing Ruan and Xiaobo Zhang
language : en
Publisher: Intl Food Policy Res Inst
Release Date : 2008
Credit Constraints Organizational Choice And Returns To Capital Evidence From A Rural Industrial Cluster In China written by Jianqing Ruan and Xiaobo Zhang and has been published by Intl Food Policy Res Inst this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with Social Science categories.
Smes And Economic Development In Africa
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Author : Gift Mugano
language : en
Publisher: Taylor & Francis
Release Date : 2023-09-15
Smes And Economic Development In Africa written by Gift Mugano and has been published by Taylor & Francis this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-09-15 with Business & Economics categories.
Small and medium-sized enterprises (SMEs) are a driving force of the global economy, contributing up to 50% of gross domestic product in some instances. They also contribute to economic development through various channels such as employment creation, economic growth and poverty reduction, key elements of the Sustainable Development Goals. Furthermore, in many economies the majority of jobs are provided by SMEs. However, despite their support of the economy, SMEs are prone to several binding constraints, such as access to finance and market entry, as well as exogenous shocks and crises, most recently the COVID-19 pandemic. Building on evidence from international experience, SMEs and Economic Development in Africa provides grounded solutions to challenges affecting SMEs, particularly in Africa, and offers guidance on how to build resilience to counteract future shocks. It also offers a number of policy measures which governments in developing countries may need to consider in order to encourage economic growth and development, such as increasing productive capacities, training, enhancing business ethics and professionalism and improving competitiveness. What makes this book distinctive is that fact that it brings together the literature concerning SMEs in one place, and using case studies, it showcases how policymakers can overcome the challenges affecting SMEs. The book also provides tested and practical remedies for African economies with a view to making SMEs a springboard for economic prosperity. The book will appeal to advanced students, scholars and researchers, as well as policymakers, development agencies and non-governmental organisations.