Government-owned development banks have often been justified by the need to respond to financial market imperfections that hinder the establishment and growth of promising businesses, and as a result, stifle economic development more generally. However, evidence on the effectiveness of these...

This study is an effort to identify the process by which firms venture into GVCs and the obstacles faced by firms once they have been immersed in it. We have focused on two particular GVCs: the aerospace GVC and the software and IT services GVC. Through the case studies, we analyzed the nature...

This study sheds light on how Costa Rica's insertion in global value chains occurs by examining governance patterns, the type of activities involved, and the level of underlying innovation in the selected value chain. The paper describes in detail two case studies of electronic-related companies...

Despite the large potential gains from credit by second-tier development banks, little is known about the actual impact of these banks' lending activity. This study partially fills that gap by analyzing the impact of the lending activity of Bancoldex, the Colombian second-tier development bank,...

Understanding the drivers of international production fragmentation is an important issue for Latin American and Caribbean countries because participation in global production networks can help mitigate instability due to dependence on natural resources and can provide opportunities for further...

Despite the large potential gains from credit by second-tier development banks, little is known about the actual impact of these banks' lending activity. This study partially fills that gap by analyzing the impact of the lending activity of Bancoldex, the Colombian second-tier development bank,...

This paper studies the effect of government-backed partial credit guarantees on firms' performance. These guarantees are automatically granted to firms without enough collateral in order to lift their credit constraints. We put together a panel, covering the period 1997-2007, that combines data...

This study sheds light on how Costa Rica's insertion in global value chains occurs by examining governance patterns, the type of activities involved, and the level of underlying innovation in the selected value chain. The paper describes in detail two case studies of electronic-related companies...

Understanding the drivers of international production fragmentation is an important issue for Latin American and Caribbean countries because participation in global production networks can help mitigate instability due to dependence on natural resources and can provide opportunities for further...

Government-owned development banks have often been justified by the need to respond to financial market imperfections that hinder the establishment and growth of promising businesses, and as a result, stifle economic development more generally. However, evidence on the effectiveness of these...