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1、中小企业融资缺口：理论和证据外文翻译外文题目：TheSMEFinancingGap:TheoryandEvidence出处:FinancialMarketTrends作者:JamesClunie原文：TheSMEFinancingGap:TheoryandEvidenceSummaryI.BackgroundAtthe2ndOECDMinisterialConfereneeonSMEsheldin1stanbul,Turkey,inJune2004,MinistersrecognisedintheIstanbulMinisterial
2、Declaration"theneedtoimproveaccesstofinancingforSMEsonreasonableterms〃•MinistersunderlinedtheimportanceofthisissuebyencouragingtheOECDtoorganiseathematicconferenceforfurtherdiscussiontoseekmoreinnovativesolutionsandinitiativesforfacilitatingSMEaccesstofinancing,fromfirm
3、creationthroughallstagesofdevelopment.Thehigh-levelOECDGlobalConferenceon〃BetterFinancingforEntrepreneurshipandSMEGrowth"。hostedbytheBrazilianGovernmentBrasilia,27-30March2006intheframeworkoftheOECDBolognaProcessonSMEandEntrepreneurshipPolicies,providedanoccasiontoachie
4、vethoseobjcctivcSeAtthatconference,akeynotepaperontheSMEFinancingGapwaspresentedanddiscussedwhichprovidedthebasisforareportbeingpublishedontheresponsibilityoftheSecretary-GeneraloftheOECDTheSMEFinancingGapVo/.1:TheoryandEvidence,OECD2006*.Thefollowingistheexecutivesumma
5、ryofthereport,whichanalysesthefinancinggap,discusseschallengesofdebtfinancingofSMEsandperspectivesforventurecapitalfinancing,drawsconclusionsandgivesrecommendationsonhowtofosterSMEfinaneingll.ExecutiveSummaryManycommentatorshavepostulateda^financinggap"forsmallandmedium
6、sizedenterprisesSMEs,meaningthattherearesignificantnumbersofSMEsthatcouldusefundsproductivelyiftheywereavailable,butcannotobtainfinancefromtheformalfinancialsystem.TheOECDreportontheSMEfinancinggap,whichissummcirizedhere,analysesthe，zfinancinggap"concept,seekstodetermin
7、ehowprevalentsuchagapmaybe-bothforOECDcountriesandnon-membereconomies?andrecommendsmeasurestofosteremimprovedflowoffinancingtoSMEs.SMEsandentrepreneurshiparenowrecognisedworld-widetobeakeysourceofdynamism,innovationandflexibilityinadvaneedindustrialisedcountries,aswella
8、sinemerginganddevelopingeconomies.SMEsconstitutethedominantformofbusinessorganisationworld-wide,accountingforo
