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Author: Reazul Islam
Publisher: World Bank Publications
Published: 1994-01-01
Total Pages: 260
ISBN-13: 9780821329696
DOWNLOAD EBOOKWorld Bank Discussion Paper No. 253. Small firms are numerous in Bangladesh and contribute greatly to employment and to the provision of inexpensive goods and services. The original hypothesis for the research presented in this paper was that inves
Author: Dale W Adams
Publisher: Routledge
Published: 2019-03-04
Total Pages: 329
ISBN-13: 0429710585
DOWNLOAD EBOOKInvisible to official statistics and operating outside the reach of governmental regulation, informal finance markets often prove more efficient and more fair than their formal counterparts. The authors of these studies emphasize the diversity and richness of informal credit markets.
Author:
Publisher: World Bank Publications
Published: 1994-01-01
Total Pages: 130
ISBN-13: 9780821329641
DOWNLOAD EBOOKWorld Bank Discussion Paper No. 251. This study investigates the conflicting viewpoints of small- and medium-size enterprises (SMEs) and banks: the SMEs contend that the supply of bank financing is largely unavailable to them, while banks maintain
Author: Franklin Allen
Publisher: Edward Elgar Publishing
Published: 2024-04-12
Total Pages: 367
ISBN-13: 1800370490
DOWNLOAD EBOOKPromoting a comparative perspective, this comprehensive Research Handbook aids in the understanding of alternative finance and its values in a global setting. Readers are encouraged to view alternative finance through the lens of economic mechanisms rather than terminology.
Author: Vojislav Maksimovic
Publisher: World Bank Publications
Published: 2008
Total Pages: 77
ISBN-13:
DOWNLOAD EBOOKAbstract: China is often mentioned as a counterexample to the findings in the finance and growth literature since, despite the weaknesses in its banking system, it is one of the fastest growing economies in the world. The fast growth of Chinese private sector firms is taken as evidence that it is alternative financing and governance mechanisms that support China's growth. This paper takes a closer look at firm financing patterns and growth using a database of 2,400 Chinese firms. The authors find that a relatively small percentage of firms in the sample utilize formal bank finance with a much greater reliance on informal sources. However, the results suggest that despite its weaknesses, financing from the formal financial system is associated with faster firm growth, whereas fund raising from alternative channels is not. Using a selection model, the authors find no evidence that these results arise because of the selection of firms that have access to the formal financial system. Although firms report bank corruption, there is no evidence that it significantly affects the allocation of credit or the performance of firms that receive the credit. The findings suggest that the role of reputation and relationship based financing and governance mechanisms in financing the fastest growing firms in China is likely to be overestimated.
Author: Jianjun Li
Publisher:
Published: 2009
Total Pages: 216
ISBN-13: 0195380649
DOWNLOAD EBOOKInformal finance consists of nonbank financing activities, whether conducted through family and friends, local money houses, or other types of financial associations. It has provided much-needed financing to small and medium enterprises (SMEs) in particular, in the face of a tightly constrained and overburdened formal banking system. Unable to obtain a bank loan, firms have relied upon individuals and informal organizations outside of the banking system to obtain financing for their ventures or working capital (operating funds). Presently there is a scarcity of information on informal finance in China and it is expected to have a significant impact upon GDP and money supply. This book, with contributions from leading scholars, describes the evolution, characteristics, and variation of informal finance in China from American and Chinese perspectives. Literature by Jiang Shuxia, Jiang Xuzhao, and Li Jianjun has heretofore been available only in Chinese, while work by Kellee Tsai, Jianwen Liao, Harold Welsch, David Pistrui, and Sara Hsu has been available in English. For the first time, they come together to discuss informal financing and its many aspects. Most of the essays are based upon original survey research conducted locally, as this type of data is not normally collected by the government. The papers pioneer the description and analysis of the nuances of informal finance from several perspectives; the authors look at the social, cultural, political, and economic causes of informal finance, its many variations, and its economic, personal, and political ramifications.
Author: Roger Buckland
Publisher: Routledge
Published: 2016-07-15
Total Pages: 312
ISBN-13: 1317191692
DOWNLOAD EBOOKThis volume, originally published in 1995, examines the mechanisms by which businesses that have the capacity to grow – whether in terms of output, innovation or export – acquire the cash that enables growth. Addressing an issue of central importance to the competitiveness of firms and economies, this book draws together research by leading academics in the area. Throughout, research studies develop the themes of market failure, finance gaps and failure of demand. They also bring out the linkages between the financing choices facing the growing firm and the issues of organisation and of corporate governance that have to be address during the process of growth and maturity. Contributors challenge financial orthodoxy throughout, providing coherent analyses of the difficulties faced in the finance of the growing enterprise, from its early dependence on banks and informal finance to the pinnacle of a stock exchange listing.
Author: Various Authors,
Publisher: Taylor & Francis
Published: 2022-07-30
Total Pages: 4620
ISBN-13: 1134873832
DOWNLOAD EBOOKOriginally published between 1982 and 1996, and addressing issues of central importance to the competitiveness of firms and economies, the volumes in this set draw together research by leading academics in the area and provides a rigorous examination of key issues relating to employment in small businesses. They: Study both the growth and the barriers to growth of small firms Examine problems of rurality Investigate the variation in rates of new venture initiations across manufacturing industries Include a wide range of national case studies from Sweden, the Netherlands, the UK, Greece, Spain, Israel and Indonesia. Discuss marketing in the small business and the relationship between small and large firms in an advanced capitalist economy Reassess economic theories concerned with concentration and competition the relationship between small and large firms in an advanced capitalist economy Analyse the managerial factors most closely associated with successful small firms
Author: Shabeer Khan
Publisher: Taylor & Francis
Published: 2022-12-16
Total Pages: 152
ISBN-13: 1000802957
DOWNLOAD EBOOKThe characteristics, nature, determinants, and size of the informal economy differ from country to country. While much research has been carried out in the context of advanced economies, less attention has been given to developing countries, especially those in the Organisation of Islamic Cooperation (OIC) nations. This is one of the first books to investigate Islamic finance’s stance on the informal economy and to discuss it from an OIC perspective. It covers the various definitions, historical development, types, and determining factors behind the shadow economy and the reasons for people’s preference to join and stay in the informal economy. Similarly, different theories are discussed in detail, thus providing a deeper understanding of the subject matter. The book examines the indicators of the informal sector, such as unemployment, regulation, and taxation, and the effect of financial development and the role of financial inclusion in informal economy in the case of OIC countries compared to non-OIC countries. It defines the main features of the informal economy and discusses their implications for policy formation and implementation. Additionally, the author provides guidance on Islamic finance’s role in the informal economy and offers policy recommendations in order to bring more people into the formal economy. The book presents deep and specialist knowledge on the shadow economy as well as facts and figures pertaining to OIC countries, and, as such, will open the door for future research in this important but understudied field, especially from an Islamic finance angle. It can be used as a comprehensive guide for students, academics, and researchers of Islamic studies, development economics, political economy, public policy, law, sociology, and anthropology.
Author: Rajesh Raj S. N.
Publisher: Taylor & Francis
Published: 2020-12-23
Total Pages: 217
ISBN-13: 1000331059
DOWNLOAD EBOOKMicro, 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.
