institutional framework in which these firms operate. Next, the paper focuses on the financing choices available to small and medium …

sector firms is taken as evidence that it is alternative financing and governance mechanisms that support China's growth …. This paper takes a closer look at firm financing patterns and growth using a database of 2,400 Chinese firms. The authors … informal sources. However, the results suggest that despite its weaknesses, financing from the formal financial system is …

more innovative. Financing from foreign banks is associated with higher levels of innovation compared with financing from …

financing constraints are likely to be the most effective routes to promote firm growth. "--World Bank web site …