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Welcome to the Publications Library! Here you will find a searchable index of reports, toolkits, research papers, and other resources relevant to the Small and Growing Business Sector. Sort by clicking on the relevant tags, or by typing in key words in the box below.

 

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Top tags: sector publication  impact investing  Entrepreneurship  access to finance  Global  ANDE publication  Social Entrepreneurship  Development  women  Economic Growth  SGB  SME  Impact Evaluation  2016  accelerators  africa  ecosystem  India  Latin America  private sector development  social enterprise  Base of the Pyramid  BoP  environment  Agriculture  poverty  finance  youth  financing mechanisms  GALI 

Impact Evaluation of SME Programs in Latin America and Caribbean - The World Bank Group

Posted By Saurabh Lall, Aspen Institute - ANDE, Monday, November 14, 2011
January 2010

This report is the product of a research project rigorously evaluating the net impacts of participation in small and medium enterprise (SME) programs in four Latin American countries-Chile, Colombia, Mexico and Peru. The objective of the research was to determine which SME programs improve firm performance, and to gain insights into why some programs may be more effective than others.

To this end, the research team worked closely with national statistics offices in each of the four countries to develop firm-level panel data on program beneficiaries and a comparison group of non-program participants with similar firm attributes. The research team adopted a common analytic approach to ensure comparability of findings across countries. This drew upon methodologies
used in recent impact evaluation studies of SME programs in high income and developing countries (reviewed in Chapter 2) to address issues of selection bias from program participation. The analysis also extended evaluation methodologies in several new directions: to accommodate the presence of multiple treatment cohorts and participation in multiple SME programs, to estimate the effects over
time of impacts from program participation, and to test the sensitivity of impact estimates to firm exit.

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Tags:  Access to Finance  impact evaluation  Latin America  sector publication  SME 

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Women, Business and the Law: Measuring Gender Parity in 141 Economies - IFC/World Bank

Posted By Saurabh Lall, Thursday, October 27, 2011
Summer 2011

Women, Business and the Law objectively highlights differentiations on the basis of gender in 141 economies around the world, covering six areas: accessing institutions, using property, getting a job, providing incentives to work, building credit and going to court. Women, Business and the Law describes regional trends and shows how economies are changing across these six areas, tracking governments’ actions to expand economic opportunities for women.


The empirical evidence suggests that, slowly but surely, governments are making progress in expanding opportunities for
women. From June 2009 to March 2011, Women, Business and the Law recorded 46 legal and regulatory changes occurring
in 39 economies that affected the indicators. Without doubt, 41 of these changes were aimed at achieving greater gender
parity and reducing legal differentiation between men and women, with Kenya leading the way with the highest number
of changes in this positive direction.

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Tags:  Entrepreneurship  Global  Policy  sector publication  Women 

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Beyond Microfinance: Getting Capital to Small and Medium Enterprises to Fuel Faster Development

Posted By Saurabh Lall, Friday, October 21, 2011
A Brookings Institution policy brief that argues that small and medium sized enterprises contribute more to economic development and growth than micro-enterprises, but face barriers to scale in developing countries. 

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Tags:  Development  Entrepreneurship  Microfinance  sector publication  SME 

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Alphamundi - Impact Finance Survey 2010

Posted By Saurabh Lall, Friday, October 21, 2011
October 2010

A survey of 62 financial institutions in the field of Impact Investing, with a particular focus on European institutions. According to Alphamundi, the survey findings have "helped shape policy changes in Luxembourg and provided private and institutional investors with a better understanding of the opportunities and challenges faced by Impact Finance fund managers". 


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Tags:  Access to Finance  Dataset  financing mechanisms  Global  impact investing  sector publication  survey 

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SME Innovators and Gazelles in MENA - The World Bank

Posted By Saurabh Lall, Tuesday, September 27, 2011
Published September 2011

The Middle-East and North Africa (MENA) region faces no greater challenge than employment generation. An expanding literature on
"gazelles” suggests that a small percentage of fast-growing small and medium enterprises (SMEs) generate the majority of new jobs in
diverse economies. This paper observes the characteristics of fast growing SMEs included in World Bank Investment Climate Assessment (ICA) enterprise surveys in the MENA region. The identified enterprises characteristics associated with high growth among SMEs include being an innovator, offering workers formal training and receiving an international quality certification.

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Tags:  Gazelles  High-Growth Entrepreneurship  Job Creation  Middle-East  North Africa  sector publication 

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Coordinating Impact Capital: A New Approach to Investing in Small and Growing Businesses - Santa Clara University, Center for Science, Technology and Society

Posted By Saurabh Lall, Tuesday, September 27, 2011
Published in July 2011

Note: This research document is a result of an ANDE-funded Capacity Development Fund grant.

This study by Santa Clara University’s Center for Science, Technology and Society (CSTS), finds the need to develop a more collaborative approach to deploying capital in the impact investing space. The majority of the 45 organizations surveyed in the report ‘Coordinating Impact Capital’ expressed an interest in linking with potential co-investors to lower the risk associated with funding small and growing businesses (SGBs) in developing countries.

The authors also find that nearly 60 percent of respondents used multiple investment vehicles (grants, loans, convertible notes and equity) and 50 percent employed local intermediary organizations when making debt investments. However, only 17 percent reported having used Capacity Development Organizations (CDOs) to help their enterprises build management and systems capacity, despite the potential benefits.

They recommend a syndicated approach of ‘phased investing’, in which two or more investors provide capital during different phases of an SGB’s development, to ensure a steady stream of capital to the enterprise. The authors also suggest that equity may not be the most effective funding instrument for the sector. Instead, the development of cash-flow based investment vehicles could improve the predictability of returns and drive more mainstream capital into impact investing.

The study was funded by the ANDE Capacity Development Fund 2010, and these findings present an opportunity for ANDE to play a greater role in coordinating the flow of impact capital and capacity development services to SGBs. The report also suggests potential areas of future research on the impact of SGBs on poverty and economic development, and identifying factors that lead to greater social outcomes.

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Tags:  Access to Finance  ANDE Members  Global  impact investing  sector publication 

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Data Driven: A Performance Analysis for the Impact Investing Industry - Global Impact Investing Network

Posted By Saurabh Lall, Friday, September 23, 2011
Published September 2011

IRIS is a universal language for social, environmental, and financial performance reporting. It was developed as a tool for the impact investing industry to improve transparency, increase the credibility of social and environmental performance data, and facilitate investment comparability and performance benchmarking.

This first report presents early findings from 2,394 organizations - including 1,931 microfinance institutions and 463 mission-driven organizations - that work with leading impact investment intermediaries. In addition to presenting early aggregated performance data, this report's objective is to drive widespread adoption of IRIS and to encourage impact investors, funds, and mission-driven organizations to strengthen future market intelligence by voluntarily contributing data for analysis through IRIS data collection partners.

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Tags:  Dataset  Global  impact investing  IRIS  Market Sizing  sector publication 

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