Abstract

http://ssrn.com/abstract=2039204
 
 

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Financing of Firms in Developing Countries: Lessons from Research


Meghana Ayyagari


George Washington University - School of Business

Asli Demirgüç-Kunt


World Bank - Financial and Private Sector Development; World Bank

Vojislav Maksimovic


University of Maryland - Robert H. Smith School of Business

April 1, 2012

World Bank Policy Research Working Paper No. 6036

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.

Number of Pages in PDF File: 99

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

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Date posted: April 13, 2012  

Suggested Citation

Ayyagari, Meghana and Demirgüç-Kunt, Asli and Maksimovic, Vojislav, Financing of Firms in Developing Countries: Lessons from Research (April 1, 2012). World Bank Policy Research Working Paper No. 6036. Available at SSRN: http://ssrn.com/abstract=2039204

Contact Information

Meghana Ayyagari (Contact Author)
George Washington University - School of Business ( email )
Washington, DC 20052
United States
Asli Demirgüç-Kunt
World Bank - Financial and Private Sector Development ( email )
United States
202-473-7479 (Phone)
202-522-1155 (Fax)
HOME PAGE: http://econ.worldbank.org/staff/ademirguckunt/
World Bank ( email )
1818 H Street, NW
Washington, DC 20433
United States
Vojislav Maksimovic
University of Maryland - Robert H. Smith School of Business ( email )
Van Munching Hall
College Park, MD 20742-1815
United States
301-405-2125 (Phone)
301-314-9157 (Fax)
HOME PAGE: http://www.rhsmith.umd.edu/finance/vmax/
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