269 lines
9.3 KiB
YAML
269 lines
9.3 KiB
YAML
abstract: 'BackgroundMicro-, small-, and medium-sized enterprises (MSMEs) account
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for the vast majority of firms in most economies, particularly in
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developing nations, and are key contributors to job creation and global
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economic development. However, the most significant impediment to MSME
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development in low- and middle-income countries is a lack of access to
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both investment and working capital financing. Due to a lack of
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essential track record, appropriate collateral, and credit history,
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MSMEs are frequently denied business loans by traditional lending
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institutions. In addition, SMEs'' inability to access funding is hindered
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by institutional, structural, and non-financial factors. To address
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this, both the public and private sectors employ indirect and direct
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finance interventions to help MSMEs in developing and emerging economies
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enhance and increase their financing needs. Given the importance of
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MSMEs in the economy, a comprehensive overview of and systematic
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synthesizing of the evidence of the effects of financial access
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interventions for MSMEs, capturing a wide variety of outcome variables,
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is useful. ObjectivesThe objective of this evidence and gap map (EGM) is
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to describe the existing evidence on the effects of various
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interventions dedicated to supporting and improving MSMEs'' access to
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credit, as well as the corresponding firm performance and/or welfare
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outcomes. MethodsAn EGM is a systematic evidence product that displays
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the existing evidence relevant to a specific research question. An EGM''s
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end product is a research article or report, but it can also be shared
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via an interactive map drawn as a matrix of included studies and their
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corresponding interventions and outcomes. Interventions in low- and
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middle-income countries that target specific population subgroups are
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included on the map. The EGM considers five types of interventions: (i)
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strategy, legislation and regulatory; (ii) systems and institutions;
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(iii) facilitate access; (iv) lending instruments or financial products;
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and (v) demand-side interventions. The map, on the other hand, covers
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outcome domains for policy environment, financial inclusion, firm
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performance, and welfare. Impact evaluations or systematic reviews of
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relevant interventions for a previously defined target population are
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included in the EGM. Studies using experimental or non-experimental
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designs, as well as systematic reviews, are eligible. The EGM excludes
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before-and-after study designs with no suitable comparison group.
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Furthermore, the map excludes literature reviews, key informant
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interviews, focus group discussions, and descriptive analyses. Search
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strings were used to conduct electronic searches in databases. To ensure
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that the research team had identified a significant portion of relevant
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research works, the search strategy was supplemented with gray
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literature searches and systematic review citation tracking. We have
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compiled studies that are either completed or in progress. For practical
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reasons, studies are limited to papers written in English and are not
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restricted by publication date. Selection CriteriaWe included studies
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that examined interventions to enhance MSMEs'' access to finance in low-
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and middle-income countries targeting MSMEs including households,
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smallholder farmers and single person enterprise as well as financial
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institutions/agencies and their staff.
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The EGM considers five types of interventions that aim to: (i) deliver
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strategy, legislation, and regulatory aspects; (ii) systems and
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institutions that enable financing; (iii) facilitate access to finance;
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(iv) deliver different lending instruments or financial products,
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including traditional forms of microcredit; and (v) demand-side
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interventions such as programs on financial literacy. The map includes
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outcome domains surrounding policy environment, financial inclusion,
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firm performance, and welfare. Eligible studies must be experimental,
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non-experimental, or systematic reviews. In addition, the study designs
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must have a suitable comparison group before and after the
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implementation of interventions. ResultsThe EGM includes 413 studies.
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The majority of the studies (379 studies) analyzed microenterprises,
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such as households and smallholder farmers; 7 studies analyzed community
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groups; while 109 studies analyzed small and medium enterprises. There
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were 147 studies on interventions that targeted multiple firm sizes.
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Lending instruments/financial products are the most common intervention
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across all firm types. When it comes to the types of firms that receive
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the said financial intervention, the data is overwhelmingly in favor of
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microenterprises (278 studies), followed by systems and organizations
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(138 studies) that support better access to such financial products and
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services. Welfare outcomes have the most evidence out of all of the
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outcomes of interest, followed by firm performance and financial
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inclusion. Among all firm types, welfare outcomes are primarily targeted
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at microenterprises. With 59 studies, we can say that small businesses
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have a significantly large number of enterprise performance outcomes. of
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the 413 studies, 243 used non-experimental or quasi-experimental designs
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(mainly propensity score matching and instrumental variable approaches),
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136 used experimental methods, and 34 were systematic reviews. 175
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studies (43\%) provided evidence from Sub-Saharan Africa, 142 studies
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(35\%) from South Asia, 86 studies (21\%) from East Asia and the
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Pacific, 66 studies (16\%) from Latin America and the Caribbean, 28
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studies (7\%), Europe and Central Asia, and 21 studies (5\%) from the
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Middle East and North Africa. Most of the included evidence covers
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low-income (26\%) and lower-middle income countries (66\%), and to a
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lesser extent upper-middle-income countries (26\%). ConclusionThis map
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depicts the existing evidence and gaps on the effects of interventions
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to enhance MSMEs'' access to financial services in low and middle-income
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countries. Interventions directed at microenterprises with welfare
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outcomes have a significant number of research outcomes in the
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literature. SME evaluations have looked at firm performance, with less
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focus to employment and the welfare effects on owners and employees,
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including poverty reduction. Microcredit/loans have been the focus of a
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large number of research papers (238 studies), indicating the field''s
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growing popularity. However, emerging financial interventions such as
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facilitating access to digital financial services are relatively
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under-studied. Several studies also investigate rural or population in
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remote areas with 192 studies, 126 studies on poor and disadvantaged,
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and 114 papers on women. Most of the research is conducted in
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Sub-Saharan Africa (175 studies) and South Asia (142 studies) so further
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research in other regions could be conducted to allow a more holistic
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understanding of the effects of financial inclusion interventions.
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Credit lines, supply chain finance, and trade financing, which are some
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of the ADB''s financial tools have limited evidence. Future studies
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should look into strategy, law, and regulation interventions, as well as
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interventions targeted at SMEs, and examine policy and regulatory
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environment outcomes as well as welfare outcomes. Interventions on the
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demand side and their impact on the policy and regulatory environment,
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as well as facilitating access are relatively understudied.'
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affiliation: 'Dela Cruz, NA (Corresponding Author), Campbell Collaborat, B8 L28 Mark
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St, Veraville 3, Las Pinas City 1740, Philippines.
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Dela Cruz, Nina Ashley, Campbell Collaborat, Las Pinas City, Philippines.
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Villanueva, Alyssa Cyrielle B., Campbell Collaborat, Meycauayan City, Philippines.
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Tolin, Lovely Ann, Campbell Collaborat, Quezon City, Philippines.
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Disse, Sabrina, Campbell Collaborat, Cologne, Germany.
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Lensink, Robert, Univ Groningen, Groningen, Netherlands.
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White, Howard, Campbell Collaborat, New Delhi, India.
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Dela Cruz, Nina Ashley, Campbell Collaborat, B8 L28 Mark St, Veraville 3, Las Pinas
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City 1740, Philippines.'
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article-number: e1341
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author: Dela Cruz, Nina Ashley and Villanueva, Alyssa Cyrielle B. and Tolin, Lovely
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Ann and Disse, Sabrina and Lensink, Robert and White, Howard
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author-email: naodelacruz@gmail.com
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author_list:
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- family: Dela Cruz
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given: Nina Ashley
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- family: Villanueva
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given: Alyssa Cyrielle B.
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- family: Tolin
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given: Lovely Ann
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- family: Disse
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given: Sabrina
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- family: Lensink
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given: Robert
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- family: White
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given: Howard
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da: '2023-09-28'
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doi: 10.1002/cl2.1341
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eissn: 1891-1803
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files: []
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journal: CAMPBELL SYSTEMATIC REVIEWS
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language: English
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month: SEP
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number: '3'
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number-of-cited-references: '19'
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papis_id: 4b074776086475db07479afe8a5cd591
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ref: Delacruz2023protocoleffects
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times-cited: '0'
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title: 'PROTOCOL: Effects of interventions to improve access to financial services
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for micro-, small- and medium-sized enterprises in low- and middle-income countries:
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An evidence and gap map'
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type: article
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unique-id: WOS:001022799500001
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usage-count-last-180-days: '3'
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usage-count-since-2013: '3'
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volume: '19'
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web-of-science-categories: Social Sciences, Interdisciplinary
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year: '2023'
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