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Financing the operation of small businesses in developing economies

Author

Listed:
  • Sonia Di Giannatale
  • Arnoldo López-Marmolejo

    (Centro de Investigación y Docencia Económicas (CIDE))

Abstract

Entrepreneurship is vital for innovation and growth in market economies (Klapper et al., 2010). Most enterprises are small businesses, which in developing economies also constitute the main source of employment. Yet at the same time, small businesses in those countries face restrictions in their attempts to access formal credit to enable them to acquire inputs and invest in technology. While creating favorable conditions for accessing affordable credit is complex, given that it requires adequate regulatory design and market changes that take time to mature, there are several strategies based on behavioral economics that could help small businesses with their credit decisions in the meantime.

Suggested Citation

  • Sonia Di Giannatale & Arnoldo López-Marmolejo, 2023. "Financing the operation of small businesses in developing economies," Development Finance Agenda, Chartered Institute of Development Finance, vol. 8(4), pages 6-7.
    • Handle: RePEc:afj:journ4:v:8:y:2023:i:4:p:6-7
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    File URL: https://journals.co.za/doi/abs/10.10520/ejc-defa_v8_n4_a2
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