It is well established that financial development is necessary for the efficient allocation of capital and firm growth, yet firm-level surveys have repeatedly found access to finance to be among...

Leora Klapper |

According to the most recent World Bank Enterprise Survey Data, firms in developing countries report that access to finance is the biggest obstacle for the growth of their operations. Across all...

Maria Soledad Martinez Peria |

Small and medium-size enterprises (SMEs) account for close to 60 percent of global manufacturing employment. So it is no surprise that financing for SMEs has been a subject of great interest to...

Asli Demirgüç-Kunt |