eight of the countries that make up southern Africa — Botswana, Lesotho, Malawi, Mozambique, South Africa, Swaziland …

among firms in the cluster. Although the investment amount needed to start a business has more than tripled, this amount …

industrialization and economic growth. In reality, micro and small enterprises are ubiquitous because entrepreneurs can undertake low … organizational choice can overcome the prohibitive cost of investment. When facing credit constraints, firms are more likely to … widely available in rural China, thereby supporting industrialization even in the absence of a well-functioning capital …

industrialization over the past several decades, which has occurred in the absence of well-functioning financial markets, seems to defy … clustering, as a new business model, lowers the entry barriers of initial capital investment through the division of labor … explain China's rapid industrialization in the absence of an efficient financial market." from Author's Abstract …

"Township-village enterprises (TVEs) were a major engine of China's rapid rural industrialization in the past three …

capital and technology in the incipient stage of industrialization." from Authors' Abstract …

industrialization when local conditions do not allow easy access to credit. …

multiplier analysis indicate relatively strong macro-linkages from agricultural demand-led (ADL) industrialization, yielding a … industrialization is associated with a larger GDP increase than the two industrial-led development paths. …