The Dominican Republic stands out as a fast growing economy that has not been able to generate a commensurate reduction in poverty. Three reasons have been raised before to explain this conundrum: (i) a labor market that does not translate productivity gains into salary increases; (ii) a...

Among policymakers and economists, there is a widely held perception that microenterprises1 face severe financing shortages that limit their growth opportunities. Resolving the problems of access to finance as well as the high cost of financing has become the main objective of many government...