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英文文献：Does Access to Finance Matter in Microenterprise Growth? Evidence from Bangladesh-融资渠道对微型企业的成长有影响吗?来自孟加拉国的证据
英文文献作者：Khandker, Shahidur R.,Samad, Hussain,Ali, Rubaba
英文文献摘要：
In less-developed economies such as Bangladesh where the farm sector is the major source of employment and income, the rural nonfarm sector (RNF) often as an additional source of income increasingly plays an important role in fostering the development of the rural economy, and microenterprise activities constitute a significant share of this sector. However, the key to participation in such activities requires investment and access to adequate funds. This paper investigates the role of access to finance in promoting efficiency and growth of microenterprise activities. Our findings suggest that the households engaged in microenterprise activities besides farm and other nonfarm activities are much better off (in terms of income, expenditure and poverty) than those who do not engage in such activities. However, fewer than 10 percent of the enterprises have access to institutional finance (formal banks or microcredit) although the rate of return on microenterprise investments is more than sufficient (36 percent per year) to repay institutional loans. Our findings suggest that credit constraints may reduce the enterprise profit margin by as much as 13.6 percent per year. As such, further in-depth studies should explore why microfinance institutions (MFIs) have not been more helpful in promoting microenterprise growth in Bangladesh.
在欠发达国家,如孟加拉国农业部门就业和收入的主要来源,农村非农部门(RNF)经常作为一个额外的收入来源越来越扮演着一个重要的角色在促进农村经济的发展,和微型企业活动的部门构成显著的市场份额。但是，参与这些活动的关键是需要投资和获得充分的资金。本文探讨了融资渠道在促进微型企业活动的效率和增长方面的作用。我们的研究结果表明，从事农业和其他非农业活动之外的微型企业活动的家庭(在收入、支出和贫困方面)比不从事此类活动的家庭境况要好得多。然而，只有不到10%的企业能够获得机构融资(正规银行或小额信贷)，尽管微型企业投资的回报率足以偿还机构贷款(每年36%)。我们的研究结果表明，信贷紧缩可能会使企业的利润率每年下降13.6%。因此，进一步的深入研究应该探究为什么小额信贷机构(MFIs)在促进孟加拉国微型企业增长方面没有更大的帮助。
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