Digital finance has provided informal financial support to small- and medium-sized enterprises (SMEs) and solved the dilemma of acquiring formal financial support in emerging economies such as China. However, this may lead to structural changes in entity enterprises' asset allocations. Based on...

During the past decades, firms from emerging economies have significantly increased the amount of financing obtained in capital markets. Whereas the literature argues that international markets have been an important contributor to this process, the role of domestic markets is mostly unknown. By...

The present report analyses the extent to which capital markets have provided capital to SMEs since the GFC, focusing on three kinds of financial instruments that have proven especially important in providing finance to SMEs undergoing major transitions during the past few years: Private Equity;...