Financing SMEs and Entrepreneurs 2017 provides information on debt, equity, asset-based finance, and framework conditions for SME and entrepreneurship finance, complemented with an overview of recent policy measures to support access to finance in 39 countries. The sixth instalment of this annual publication provides a solid evidence base to improve SME policy making. Almost a decade after the financial crisis, the financing situation of SMEs and entrepreneurs has generally improved in 2015 and the first half of 2016 in most participating countries, and indicates a more favourable business environment. While alternative sources of financing are gaining some traction, SMEs nevertheless remain very reliant on bank lending, making them vulnerable to credit market conditions and the economic climate.
Social enterprises are long-standing agents of inclusive growth and democratisation of the economic and social spheres, and they have proved resilient to economic adversity all the while addressing socio-economic challenges in innovative ways, re-integrating people back to the labour market, and contributing to overall social cohesion. This compendium derives policy lessons for boosting social enterprises from the analysis of 20 initiatives in several EU member-countries, covering a range of policy areas from legal frameworks, finance, market access, and support structures, to education and skills.
Costa Rica’s successful economic performance and social achievements realised over the last three decades are widely acknowledged. GDP per capita has steadily increased at higher rates than in most Latin American countries as the economy has evolved along its development path from a rural and agriculture-based to a more diversified economy integrated in global value chains. But Costa Rica faces challenges and must enhance and broaden the basis for productivity growth by strengthening its innovation system and enhancing the role of science, technology and innovation in addressing its national development goals.
This joint OECD and World Bank Group report, presented to G20 Trade Ministers in October 2015, focuses on the challenge of making GVCs more “inclusive” by overcoming participation constraints for SMEs and facilitating access for LIDCs. Results suggest that SME participation in GVCs is mostly taking place through indirect contribution to exports (rather than through direct exports), and that a holistic approach to trade, investment and national and multilateral policy action is needed to create more inclusive GVCs.
The report highlights the importance of ensuring access to ICT networks – in particular broadband – and stimulating innovation – in particular by enhancing the ability of SMEs to manage and protect their intellectual assets. At the same, the report underscores the importance of helping small firms scale up quickly, and to better integrate in GVCs by lowering barriers to the entry, growth and exit of firms. Countries should also avoid favouring incumbents over new firms.
This publication focuses on business dynamics across eight countries (Belgium, Brazil, Canada, Costa Rica, Japan, New Zealand, Norway, United Kingdom) and over time, building upon the evidence collected in the framework of the OECD DynEmp project for 22 countries. It provides new evidence on firms’ heterogeneous responses to shocks (notably the recent financial crisis) in order to evaluate how policies and framework conditions across different firms and countries can foster both employment and productivity growth.
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Promoting responsible business conduct in the financial sector is vital to building a sustainable global economy. This paper will help institutional investors implement the due diligence recommendations of the OECD Guidelines for Multinational Enterprises in order to prevent or address adverse impacts related to human and labour rights, the environment, and corruption in their investment portfolios.
Promoting responsible business conduct in the financial sector is vital to building a sustainable global economy. Although the Guidelines’ due diligence recommendations can help financial institutions, the inherent complexities in the sector create challenges. This paper highlights key considerations for institutional investors in carrying out due diligence that will help to identify and respond to environmental and social risks.
The G20/OECD Principles of Corporate Governance help policy makers evaluate and improve the legal, regulatory, and institutional framework for corporate governance, with a view to supporting economic efficiency, sustainable growth and financial stability. They are one of the Key Standards for Sound Financial Systems adopted by the Financial Stability Board (FSB). The associated Methodology for Assessing the Implementation of the G20/OECD Principles of Corporate Governance was developed by the OECD Corporate Governance Committee, with the participation of the World Bank, to underpin an assessment of the implementation of the Principles in a jurisdiction and to provide a framework for policy discussions, for example in the context of the Reviews of Observance of Standards and Codes (ROSCs) or other country assessments. This latest version incorporates changes that were made to the Principles during the 2015 review as well as a number of additional clarifications.
International investment spurs prosperity and economic development in home and recipient countries. Policy coordination helps governments resist protectionist pressures and develop effective policies. The OECD's Freedom of Investment process brings together some 56 governments from around the world to exchange information and experiences on investment policies at regular roundtables.
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This report to the G20 was prepared by the OECD Secretariat at the request of the co-chairs of the G20 International Financial Architecture Working Group as background documentation in support of the Information Workshop on the OECD Code of Liberalisation of Capital Movements held in Paris on 15 February 2017.