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Venture Capital Operations and Their Potential Role in LDC Markets
  • Language: en
  • Pages: 68

Venture Capital Operations and Their Potential Role in LDC Markets

Venture capital may play an important role in supporting entrepreneurial development and small business growth. But institutional arrangements and instruments must be carefully chosen, taking into account the lessons from countries where venture capital has been a reality now for a few years. The Bank's role should be largely to disseminate these lessons.

Financing Training
  • Language: en
  • Pages: 74

Financing Training

The need for justifying public training programs is often under appreciated. International experience strongly indicates that the cost- effectiveness of alternative options should be taken into account in the design of such programs.

Transnational Corporations in Services
  • Language: en
  • Pages: 444

Transnational Corporations in Services

None

Hungary : financial sector reform in a socialist economy
  • Language: en
  • Pages: 31
Firm Output Adjustment to Trade Liberalization
  • Language: en
  • Pages: 51

Firm Output Adjustment to Trade Liberalization

Output among firms is likely to be reallocated as a result of trade liberalization. In imperfectly competitive industries, such a "rationalization" effect can be an important component of the welfare impact of trade reform.

PRE Working Papers
  • Language: en
  • Pages: 86

PRE Working Papers

None

An Empirical Macroeconomic Model for Policy Design
  • Language: en
  • Pages: 84
Foreign Direct Investment in Developing Countries
  • Language: en
  • Pages: 66

Foreign Direct Investment in Developing Countries

None

Firm Size and the Business Environment
  • Language: en
  • Pages: 68

Firm Size and the Business Environment

The development of the small and medium enterprise sector is deemed crucial for economic growth and poverty alleviation. Such firms are often though to be at a disadvantage when compared with larger enterprises, but the reverse can apply, for example in the more flexible approach of the smaller firm. This paper draws on a private sector survey in 80 countries examining whether business obstacles are related to firm size. It finds a bias against small firms, which experience significantly greater problems than large firms with financing, taxes and regulations, inflation, corruption and street crime. These problems should be the prime targets of policies aimed at reducing inequity.

A Market-oriented Strategy for Small and Medium Scale Enterprises
  • Language: en
  • Pages: 40

A Market-oriented Strategy for Small and Medium Scale Enterprises

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. The role of the state is mainly to provide an enabling business environment that opens access to markets and reduces policy-induced biases against small firms. Governments can accelerate the development of markets for financial and non-financial services suited to SMEs by promoting innovation in products and delivery mechanisms, and by building institutional capacity. Improving the development impact of SME strategies will require much more attention to the monitoring and evaluation of intervention outcomes.