This paper presents the salient factors that characterize important aspects of firms' access to external finance. Firm-level data show that micro, small and medium-sized enterprises (MSMEs) face more external financing constraints in Low Income Countries (LICs) than in their rich counterparts. We argue for a catalytic role that development cooperation can play in alleviating these constraints and discuss the critical policy issues as regards the effectiveness of these interventions.

Original languageEnglish
Pages (from-to)9-28
Number of pages20
JournalReflets et Perspectives de la Vie Economique
Issue number1
Publication statusPublished - 8 Apr 2016


  • DFI
  • External finance
  • Information asymmetry
  • MSME

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