世界银行-厄瓜多尔中小微企业融资渠道：公司层面的影响评估（英）-2025.5-37页.pdfVIP

PolicyResearchWorkingPaper11121

AccesstoFinanceforMSMEsinEcuador

AFirm-LevelImpactEvaluation

MiriamBruhn

FedericoDiazKalan

NicolòFraccaroli

ClaudiaRuizOrtega

Finance,CompetitivenessandInvestmentGlobalDepartment

DevelopmentResearchGroup

May2025

PolicyResearchWorkingPaper11121

Abstract

ThispaperstudiestheimpactofaWorldBankprogramThefindingsshowthattheprogramhadapositiveeffecton

aimedatpromotingaccesstofinanceformicro,small,andthesefirms,byboostingtheirfinancing,numberofwork-

medium-sizeenterprisesinEcuador.Astaggereddiffer-ers,short-termassets,andsales.Thiseffectissimilarwhen

ence-in-differencesmethodisusedtoestimatetheimpactenterprisesarefemale-ledandislargerforfirmsthathad

oftheprogramon2,035participantfirmsduring2019–23.nopreviousaccesstofinance.

ThispaperisaproductoftheFinance,CompetitivenessandInvestmentGlobalDepartmentandtheDevelopmentResearch

Group,DevelopmentEconomics.ItispartofalargereffortbytheWorldBanktoprovideopenaccesstoitsresearchand

makeacontributiontodevelopmentpolicydiscussionsaroundtheworld.PolicyResearchWorkingPapersarealsoposted

ontheWebat/prwp.Theauthorsmaybecontactedatnfraccaroli@.

ThePolicyResearchWorkingPaperSeriesdisseminatesthefindingsofworkinprogresstoencouragetheexchangeofideasaboutdevelopment

issues.Anobjectiveoftheseriesistogetthefindingsoutquickly,evenifthepresentationsarelessthanfullypolished.Thepaperscarrythe

namesoftheaut