Periodic Essay
How Digital Innovation Can Increase Small Business Access to Finance in Asia
Abstract: Small- and medium-sized enterprises (SMEs) are a key contributor to economic activity around the world as an important source of jobs, growth, and innovation. Despite their essential role, SMEs receive a disproportionately small share of credit from the financial system, a trend that persists across developed and developing countries, including in Asia. This paper summarizes the SME credit gap in Asia and assesses ways certain emerging technologies and innovative business models?commonly known as ?fintech??can improve SME access to financial services in Asia and boost long-term economic growth in the process.
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Provider: Federal Reserve Bank of San Francisco
Part of Series: Asia Focus
Publication Date: 2018
Issue: March
Order Number: 01