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Finance for small enterprise growth and poverty reduction in developing countries

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Author Info

  • Christopher J. Green

    (Loughborough University, Loughborough, UK)

  • Colin H. Kirkpatrick

    (University of Manchester, Manchester, UK)

  • Victor Murinde

    (University of Birmingham, Birmingham, UK)

Abstract

This paper examines the ways in which financial sector development policy might contribute to poverty reduction, particularly by supporting the growth of micro and small enterprises (MSEs). Specifically, the paper draws on case studies and empirical work on the changing role of MSEs in the development process and the access of MSEs to informal and formal finance, including the role of microfinance. A number of research priorities relating to the links among financial policy, small enterprise development and poverty reduction are identified for the immediate attention of researchers engaged in contributing to the achievement of the Millennium Development Goal (MDG) of halving global poverty by 2015. Copyright © 2006 John Wiley & Sons, Ltd.

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Bibliographic Info

Article provided by John Wiley & Sons, Ltd. in its journal Journal of International Development.

Volume (Year): 18 (2006)
Issue (Month): 7 ()
Pages: 1017-1030

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Handle: RePEc:wly:jintdv:v:18:y:2006:i:7:p:1017-1030

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Web page: http://www3.interscience.wiley.com/journal/5102/home

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References

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  1. King, Robert G. & Levine, Ross, 1993. "Finance and growth : Schumpeter might be right," Policy Research Working Paper Series 1083, The World Bank.
  2. Jonathan Morduch, 1999. "The Microfinance Promise," Journal of Economic Literature, American Economic Association, vol. 37(4), pages 1569-1614, December.
  3. Cull, Robert & Davis, Lance E. & Lamoreaux, Naomi R. & Rosenthal, Jean-Laurent, 2006. "Historical financing of small- and medium-size enterprises," Journal of Banking & Finance, Elsevier, vol. 30(11), pages 3017-3042, November.
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  8. Victor Murinde & Joram Kariisa-Kasa, 1997. "The financial performance of the East African Development Bank: a retrospective analysis," Accounting History Review, Taylor & Francis Journals, vol. 7(1), pages 81-104.
  9. Caprio, Gerard & Honohan, Patrick, 2001. "Finance for Growth: Policy Choices in a Volatile World," MPRA Paper 9929, University Library of Munich, Germany.
  10. Hossein Jalilian & Colin Kirkpatrick, 2005. "Does Financial Development Contribute to Poverty Reduction?," Journal of Development Studies, Taylor & Francis Journals, vol. 41(4), pages 636-656.
  11. Buckley, Graeme, 1997. "Microfinance in Africa: Is it either the problem or the solution?," World Development, Elsevier, vol. 25(7), pages 1081-1093, July.
  12. Green, Christopher J. & Maggioni, Paolo & Murinde, Victor, 2000. "Regulatory lessons for emerging stock markets from a century of evidence on transactions costs and share price volatility in the London Stock Exchange," Journal of Banking & Finance, Elsevier, vol. 24(4), pages 577-601, April.
  13. Bruce E. Hansen, 1997. "Threshold effects in non-dynamic panels: Estimation, testing and inference," Boston College Working Papers in Economics 365, Boston College Department of Economics.
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  17. Dollar, David & Kraay, Aart, 2002. " Growth Is Good for the Poor," Journal of Economic Growth, Springer, vol. 7(3), pages 195-225, September.
  18. Mosley, Paul & Hulme, David, 1998. "Microenterprise finance: Is there a conflict between growth and poverty alleviation?," World Development, Elsevier, vol. 26(5), pages 783-790, May.
  19. Colin Kirkpatrick & Christopher Green, 2002. "Finance and development: an overview of the issues," Journal of International Development, John Wiley & Sons, Ltd., vol. 14(2), pages 207-209.
  20. Mead, Donald C. & Liedholm, Carl, 1998. "The dynamics of micro and small enterprises in developing countries," World Development, Elsevier, vol. 26(1), pages 61-74, January.
  21. Steel, William F. & Aryeetey, Ernest & Hettige, Hemamala & Nissanke, Machiko, 1997. "Informal financial markets under liberalization in four African countries," World Development, Elsevier, vol. 25(5), pages 817-830, May.
  22. Anonymous, 2004. "The Importance Of Financial Sector Development For Growth And Poverty Reduction," Policy Division Working Papers 12886, Department for International Development (DFID) (UK).
  23. Hutton, John P & Kenc, Turalay, 1998. "The Influence of Firms' Financial Policy on Tax Reform," Oxford Economic Papers, Oxford University Press, vol. 50(4), pages 663-84, October.
  24. Grosh, Barbara & Somolekae, Gloria, 1996. "Mighty oaks from little acorns: Can microenterprise serve as the seedbed of industrialization?," World Development, Elsevier, vol. 24(12), pages 1879-1890, December.
  25. Ghatak, Maitreesh, 2000. "Screening by the Company You Keep: Joint Liability Lending and the Peer Selection Effect," Economic Journal, Royal Economic Society, vol. 110(465), pages 601-31, July.
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Cited by:
  1. M. A. Baqui Khalily & Abdul Khaleque, 2013. "Access to Credit and Productivity of Enterprises in Bangladesh: Is there Causality?," Working Papers 20, Institute of Microfinance (InM).
  2. Francisco Diniz & Nelson Duarte, 2011. "Managers And Management On Industry And Construction Businesses In The Region Of Vale Do Sousa," ERSA conference papers ersa11p161, European Regional Science Association.

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