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A New Regime of SME Finance in Emerging Asia: Enhancing Access to Growth Capital and Policy Implications

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  • Shigehiro Shinozaki

    (Financial Sector Specialist (SME Finance), Office of Regional Economic Integration Asian Development Bank, 6 ADB Avenue, Mandaluyong City, 1550 Metro Manila, Philippines)

Abstract

While finance is critical for small and medium-sized enterprises (SMEs) to survive and grow, most SMEs suffer from poor access to finance. Given the pronounced global financial uncertainty, stable access to appropriate funding sources has become even more difficult for SMEs to attain. Lessons from the global financial crisis have motivated many countries to consider SME access to finance beyond conventional bank credit and to diversify their domestic financial systems. This paper uses empirical analysis to point out the limitations of traditional bank lending to SMEs and suggests possible policy approaches facilitating them to access growth capital.

Suggested Citation

  • Shigehiro Shinozaki, 2014. "A New Regime of SME Finance in Emerging Asia: Enhancing Access to Growth Capital and Policy Implications," Journal of International Commerce, Economics and Policy (JICEP), World Scientific Publishing Co. Pte. Ltd., vol. 5(03), pages 1-27.
    • Handle: RePEc:wsi:jicepx:v:05:y:2014:i:03:n:s1793993314400109
    DOI: 10.1142/S1793993314400109
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    References listed on IDEAS

    as
    1. Mr. Atish R. Ghosh & Swart R. Ghosh, 1999. "East Asia in the Aftermath: Was there a Crunch?," IMF Working Papers 1999/038, International Monetary Fund.
    2. Anderson, Dennis, 1982. "Small industry in developing countries: A discussion of issues," World Development, Elsevier, vol. 10(11), pages 913-948, November.
    3. Shinozaki, Shigehiro, 2012. "A New Regime of SME Finance in Emerging Asia: Empowering Growth-Oriented SMEs to Build Resilient National Economies," Working Papers on Regional Economic Integration 104, Asian Development Bank.
    4. International Finance Corporation & World Bank, 2013. "Doing Business 2013 : Smarter Regulations for Small and Medium-Size Enterprises [Regulaciones inteligentes para las pequeñas y medianas empresas : resumen ejecutivo (Vol. 2)]," World Bank Publications - Books, The World Bank Group, number 11857.
    5. World Bank & International Finance Corporation, "undated". "Doing Business in Italy 2013 : Smarter Regulations for Small and Medium-Size Enterprises," World Bank Publications - Reports 13331, The World Bank Group.
    6. Kuntchev, Veselin & Ramalho, Rita & Rodriguez-Meza, Jorge & Yang, Judy S., 2013. "What have we learned from the enterprise surveys regarding access to credit by SMEs ?," Policy Research Working Paper Series 6670, The World Bank.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Marak Zericho R. & Pillai Deepa, 2021. "Supply Chain Finance Factors: An Interpretive Structural Modeling Approach," Journal of Management and Business Administration. Central Europe, Sciendo, vol. 29(1), pages 88-111, March.
    2. Sam, Vichet, 2020. "High but Fragile Growth: Fostering SMEs development to improve Cambodia’s economic resilience," MPRA Paper 104935, University Library of Munich, Germany.

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    More about this item

    Keywords

    Access to finance; bankability; diversified financing; financial inclusion; growth capital; SME finance; F36; G21; G28;
    All these keywords.

    JEL classification:

    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation

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