OECD governments have long assigned a high priority to improving conditions for access to finance for new, innovative and fast-growing SMEs and established firms pursuing expansion. This report analyses the potential and challenges of mezzanine finance for addressing diverse financing needs of...

The paper will use the data from the PROGRESA evaluation to show the extent to which such a programme crowds out private transfers. An interesting aspect of the paper is the fact that it can use the randomization (one-third of the villages in the sample were randomized in the programme for...