Fostering markets for SME finance: Matching business and investor needs

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doi:10.1787/fin_sme_ent-2017-6-en

Cited by 3 publications

(2 citation statements)

References 11 publications

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“…Micro, small and medium-sized enterprises (MSMEs) represent the large majority of firms worldwide, fostering the growth and the development of sustainable economic systems, and increasing the financial stability of every country [46]. The long-term development and growth of MSMEs depend on a variety of different factors both related to the demand and the supply side; in recent years, one of the key drivers impacting the success of the firms, a factor that in the past has always been underestimated, is the level of financial literacy of entrepreneurs, as the OECD, in particular, has mentioned in several papers [47][48][49]. In the literature, the first noteworthy study on this subject is by Karlan and Valdivia in 2011 [50]: the authors show the positive impacts of teaching even basic financial concepts to micro-business entrepreneurs.…”

Section: Literature Reviewmentioning

confidence: 99%

The Effects of Financial Literacy on Sustainable Entrepreneurship

et al. 2021

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Entrepreneurship contributes to the economic well-being of every country. Specifically, the level of individual entrepreneurship is crucial in the process of developing and building economic potential, especially in Central European countries. Among the several factors impacting entrepreneurship, the ability to access the necessary external sources of financing need to be considered crucial. The financial literacy of the entrepreneur plays a crucial role in the relationship between the lender and the borrower. In this paper, we investigate the effects of financial literacy on sustainable entrepreneurship. We based our analysis on the framework proposed by the World Economic Forum. We present an OLS model that adopts entrepreneurship, financial literacy and macroeconomic variables. The analysis is carried out on individual and national data from different sources of information (Global Entrepreneurship Monitor, World Bank, and Organization for Economic Co-operation and Development). The results show a positive and statistically significant relationship between financial literacy and sustainable entrepreneurial activity. This evidence supports the increasing number of financial education initiatives and the inclusion of topics related to economic and financial culture in school education systems. We identify internationally valid policy implications. In the context of the growth strategies of Central European countries, financial literacy takes on even greater importance. The introduction of financial education in the national curricula could strengthen entrepreneurial skills and accelerate the inclusive growth process across Europe.

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Section: Literature Reviewmentioning

confidence: 99%

The Effects of Financial Literacy on Sustainable Entrepreneurship

et al. 2021

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“…Open-Useful-Reusable Government Data Index (OURdata), 2017 Data availability Data accessibility Government support for reuse [55] ). The most commonly cited challenges to opening government data are institutional and organisational (OECD, 2017 [56] ), indicating that non-technical constraints, including resistance to change in the public sector, may constrain the potential of digital innovation. This challenge underscores the need for a whole-of-government approach to policy making in the digital age, and the need for a coherent policy framework that reaches across silos (OECD, forthcoming [57] ).…”

Section: Much Potential Exists To Further Open Up Public Sector Datamentioning

confidence: 99%

Ensuring good jobs for all

2019

Going Digital: Shaping Policies, Improving Lives

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Economies, governments and societies across the globe are going digital. Although already underway for nearly half a century, the pace of change has quickened, as digital technologies develop rapidly and combine in novel and innovative ways, pushing digital transformation in new and often unpredictable directions. At the same time, the further deployment of communications infrastructure, the proliferation of digital technologies such as smart phones that allow ubiquitous computing, and the generation of huge volumes of data of all kinds, are turning data into an important, strategic asset. Digital technologies and large-scale data flows fundamentally change how people live and work, interact with one another, participate in the economy, and engage with the government. Many now compare digital transformation with earlier industrial transformations propelled by general-purpose technologies like steam or electricity. Whether it is the Second Machine Age, the Third Wave, Industrie 4.0 or Society 5.0, significant shifts are underway. Digital transformation affects all countries across the globe, and the importance of digital technologies is underscored in the United Nations Sustainable Development Goals, where access to information and communication technologies and universal and affordable access to the Internet is one of the key targets to transform our world. The ongoing digital transformation of the economy and society holds many promises to spur innovation, generate efficiencies, and improve services, and in doing so boost productivity growth. Digital technologies also make it easier for people to participate in economic and social activities. Yet such benefits come with new challenges as digital transformation changes the nature and structure of organisations, markets and communities, and raises concerns around jobs and skills, privacy and security, as well as notions of equity and inclusion. Realising the opportunities and addressing the challenges is not automatic and may require policy action to make digital transformation work for growth and well-being. There is currently a window of opportunity for individuals, governments and all stakeholders to shape a digital future that makes the most of the immense opportunities that digital transformation holds to improve people's lives, while ensuring that no one is left behind. This report brings together what we know about how policy can help-as well as areas and issues we need to better understand-to ensure that digital transformation benefits all by increasing growth and improving well-being. It reflects the work undertaken in the OECD's Going Digital project over 2017-18 as well as other relevant OECD work on digital transformation. It aims to increase an understanding of the drivers of digital transformation, and offers a whole-of-economy and society perspective on key digital trends, impacts, and issues that require coordinated policy action. It also sets out an ambitious future digital agenda for the OECD and beyond. This report presents key insights and poli...

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