, especially in developing countries. The paper first discusses the institutional constraints that impede access to finance … firm heterogeneity among small and medium enterprises in accessing finance. The focus is on various policies and reforms …

differing reliance on external finance or need for fixed capital. But institutions, particularly the availability of credit, do … have an impact on the initial entry process. Access to external finance is associated with greater overall entry, and also …

that firms in industries with stronger preference to use long-term finance relative to short-term finance experience lower … risk and therefore growth volatility associated with short-term financing. Increased availability of long-term finance …