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Financing of firms in developing countries : lessons from research

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  • Ayyagari, Meghana
  • Demirguc-Kunt, Asli
  • Maksimovic, Vojislav

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.

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Bibliographic Info

Paper provided by The World Bank in its series Policy Research Working Paper Series with number 6036.

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Date of creation: 01 Apr 2012
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Handle: RePEc:wbk:wbrwps:6036

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Keywords: Debt Markets; Access to Finance; Emerging Markets; Financial Literacy; Banks&Banking Reform;

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