Economics, Econometrics and Finance
3 years ago

Mongolian SMEs Struggle with Access to Finance, Hindering Economic Growth.

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MPRA Paper
Development and access to finance of small and medium-sized enterprises in Mongolia
Gan‐Ochir Doojav, Davaajargal Luvsannyam, Bilguun Sukhbaatar, Bilguunzul Sodnomdarjaa, Tsolmon Otgonbat, Khuslen Batmunkh, Munkhbayar Gantumur, Elbegjargal Enkh-Amgalan

Paper Summary

A recent survey in Mongolia looked at how small and medium-sized businesses are developing and getting financial support. The study found that banks and local government are the most helpful for these businesses. Challenges for SMEs include political instability, corruption, high loan rates, and difficulty getting loans. Because of these obstacles, SMEs in Mongolia struggle to grow. To help these businesses, specific reforms are needed to improve access to finance and support their growth.

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