Edited by Iwan J. Aziz and Hyun S. Shin
Chapter 16: Innovative financing models for SMEs and the regulatory implications
Economic expansion in Asia is positioning the region as a global growth driver and has created a foundation of growth-oriented small and medium-sized enterprises (SMEs). The 2008–09 global financial crisis (GFC) depressed demand from the developed countries, a problem rooted in global imbalances to which Asia contributes. To address this situation, Asian countries are required to rebalance their economies by promoting intra-regional trade and mobilizing domestic demand, areas in which SMEs can play a pivotal role. SMEs can be a driving force behind a resilient national economy because they stimulate domestic demand through job creation, innovation, and competition. Moreover, SMEs involved in global supply chains have the potential to encourage international trade. Thus prioritizing SME development is crucial for promoting inclusive economic growth in most economies in Asia and the Pacific. While adequate access to finance is critical for SMEs to survive and eventually grow beyond SME status, they have faced poor access to finance in Asia, which is one of the core factors impeding their development.
You are not authenticated to view the full text of this chapter or article.
Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.
Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.
Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.