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A Market-Oriented Strategy for Small and Medium Scale Enterprises


  • Hallberg, K.


This paper investigates the economic rationale for intervention in support of small- and medium-scale enterprises, on both theoretical and empirical grounds. It argues that the justification for SME interventions lies in market and institutional failures that bias the size distribution of firms, rather than on any inherent economic benefits provided by small firms.

Suggested Citation

  • Hallberg, K., 2000. "A Market-Oriented Strategy for Small and Medium Scale Enterprises," Papers 40, World Bank - International Finance Corporation.
  • Handle: RePEc:fth:wobafi:40

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    References listed on IDEAS

    1. Corbett, Jennifer & Jenkinson, Tim, 1994. "The Financing of Industry, 1970-89: An International Comparison," CEPR Discussion Papers 948, C.E.P.R. Discussion Papers.
    2. John Mullin, 1993. "Emerging equity markets in the global economy," Quarterly Review, Federal Reserve Bank of New York, issue Sum, pages 54-83.
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    Cited by:

    1. Mirjam Schiffer & Beatrice Weder, 2001. "Firm Size and the Business Environment : Worldwide Survey Results," World Bank Publications, The World Bank, number 13988.
    2. Doubell Chamberlain & Anja Smith, 2006. "Recent Findings on Tax-Related Regulatory Burden on SMMEs in South Africa. Literature Review and Policy Options," Working Papers 06105, University of Cape Town, Development Policy Research Unit.
    3. Goldberg , Mike & Palladini, Eric, 2008. "Chile : a strategy to promote innovative small and medium enterprises," Policy Research Working Paper Series 4518, The World Bank.
    4. Zoltan J. Acs, 2006. "State of literature on small to medium-size enterprises and entrepreneurship in low-income communities," Proceedings: Community Affairs Dept. Conferences, Federal Reserve Bank of Kansas City, issue Jul, pages 21-54.
    5. Harvie, Charles, 2004. "East Asian SME Capacity Building, Competitiveness and Market Opportunities in a Global Economy," Economics Working Papers wp04-16, School of Economics, University of Wollongong, NSW, Australia.
    6. Olsen, Jane & Lee, Boon-Chye & Hodgkinson, Ann, 2006. "Innovation in Small and Medium-Sized Enterprises: A Study of Businesses in New South Wales, Australia," Economics Working Papers wp06-04, School of Economics, University of Wollongong, NSW, Australia.
    7. Harvie, Charles & Lee, Hyun-Hoon, 2002. "New Regionalism in East Asia: How Does It Relate to the East Asian Economic Development Model?," Economics Working Papers wp02-10, School of Economics, University of Wollongong, NSW, Australia.
    8. Medalla, Erlinda M. & del Prado, Fatima & Mantaring, Melalyn C. & Maddawin, Angelica B., 2016. "Preliminary Assessment of the Shared Service Facilities," Discussion Papers DP 2016-18, Philippine Institute for Development Studies.
    9. Cardoza, Guillermo & Fornes, Gaston & Farber, Vanina & Gonzalez Duarte, Roberto & Ruiz Gutierrez, Jaime, 2016. "Barriers and public policies affecting the international expansion of Latin American SMEs: Evidence from Brazil, Colombia, and Peru," Journal of Business Research, Elsevier, vol. 69(6), pages 2030-2039.
    10. World Bank, 2005. "Colombia : Country Economic Memorandum, The Foundations for Competitiveness," World Bank Other Operational Studies 8807, The World Bank.
    11. Charoenrat, Teerawat & Harvie, Charles, 2014. "The efficiency of SMEs in Thai manufacturing: A stochastic frontier analysis," Economic Modelling, Elsevier, vol. 43(C), pages 372-393.
    12. Rovena Bahiti & Besa Shahini, 2010. "Strengthening Innovation and Technology Policies for SME Development in Albania," Economic Alternatives, University of National and World Economy, Sofia, Bulgaria, issue 1, pages 119-136, Janyary.
    13. Tieguhong, Julius Chupezi & Grouwels, Sophie & Ndoye, Ousseynou & Mala, Armand William & Fokou Sakam, Ignace & Useni, Marcel & Betti, Jean Lagarde, 2012. "Financial status of small and medium scale enterprises based on non-wood forest products (NWFP) in Central Africa," Forest Policy and Economics, Elsevier, vol. 20(C), pages 112-119.
    14. World Bank, 2004. "Chile : A Strategy to Promote Innovative Small and Medium Enterprises," World Bank Other Operational Studies 14352, The World Bank.
    15. Imran Ahmad & Karim Alam, 2015. "Credit Flows to Pakistan’s Manufacturing SME Sector," Lahore Journal of Economics, Department of Economics, The Lahore School of Economics, vol. 20(Special E), pages 261-270, September.
    16. Harvie, Charles & Lee, Boon-Chye, 2003. "Public Policy and Small and Medium Enterprise Development," Economics Working Papers wp03-18, School of Economics, University of Wollongong, NSW, Australia.
    17. Ganeshan Wignaraja, 2014. "Joining the supply chain: a firm-level perspective," Chapters,in: A World Trade Organization for the 21st Century, chapter 4, pages 71-109 Edward Elgar Publishing.
    18. Medalla, Erlinda M. & del Prado, Fatima & Mantaring, Melalyn C. & Maddawin, Angelica B., 2016. "Preliminary Assessment of the Shared Service Facilities," Research Paper Series DP 2016-18, Philippine Institute for Development Studies.
    19. Powell, Gary N. & Eddleston, Kimberly A., 2013. "Linking family-to-business enrichment and support to entrepreneurial success: Do female and male entrepreneurs experience different outcomes?," Journal of Business Venturing, Elsevier, vol. 28(2), pages 261-280.
    20. Ilias, Nauman, 2006. "Families and firms: Agency costs and labor market imperfections in Sialkot's surgical industry," Journal of Development Economics, Elsevier, vol. 80(2), pages 329-349, August.
    21. Mohini Malhotra & Yanni Chen & Alberto Criscuolo & Qimiao Fan & Iva lIieva Hamel & Yevgeniya Savchenko, 2007. "Expanding Access to Finance : Good Practices and Policies for Micro, Small, and Medium Enterprises," World Bank Publications, The World Bank, number 6621, June.
    22. Salah Ben Hamad & Nesrine Turki, 2016. "Default Risk Assessment of Tunisian SMEs: Multiple Criteria Decision Making Approaches," Journal of Business, LAR Center Press, vol. 1(1), pages 29-40, March.
    23. World Bank Group, 2015. "Fourth Ethiopia Economic Update," World Bank Other Operational Studies 22317, The World Bank.
    24. Laura GIURCA VASILESCU, 2008. "A Swot Analysis Of Smes� Development In Romania," Journal of Applied Economic Sciences, Spiru Haret University, Faculty of Financial Management and Accounting Craiova, vol. 3(4(6)_Wint).

    More about this item



    JEL classification:

    • L11 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Production, Pricing, and Market Structure; Size Distribution of Firms
    • D40 - Microeconomics - - Market Structure, Pricing, and Design - - - General


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