乌干达小微企业融资路径依赖和融资的决定性因素外文文献本科学位论文.doc

毕业论文外文文献翻译 Tarinyeba-Kiryabwire W M. Micro Enterprise Finance in Uganda: Path Dependence and Other and Determinants of Financing Decisions[J]. Available at SSRN 1633393, 2010. 学 院 商 学 院 专 业 金 融 学 班 级 学 号 姓 名 指导教师 外文文献原文（摘译部分）Micro Enterprise Finance in Uganda: Path Dependence and Other and Determinants of Financing Decisions Dr. Winifred Tarinyeba- Kiryabwire Abstract Access to finance literature in developing countries focuses on access to credit constraints of small and medium enterprises (SMEs) micro enterprises because they are considered the drivers of economic growth. However, in low income countries, micro enterprises play a much more significant role than SMEs because of their contribution to non-agricultural self-employment. The predominant use of informal credit rather than formal credit shows that the manner in which micro enterprises are formed and conduct their businesses favors the former over the latter. In addition, other factors such as lengthy credit application procedures, negative perceptions about credit application processes make informal credit more attractive. On the other hand specific factors such as business diversification, the need to acquire business inputs or assets than cannot be obtained using supplier credit are associated with a tendency to use formal credit. Introduction It well established that in markets where access to credit is constrained, it is the smaller businesses that have the most difficulty accessing credit. Various policy interventions have been made to improve access to credit including reforming the information and contractual frameworks, macro-economic performance, competitiveness in the financial system, and regulatory frameworks that enable financial institutions to develop products for SMEs such as leasing and factoring. Over the past ten years, policy makers in developing and low income countries have fo