Which factors determine the upgrading of micro, small and medium-sized enterprises? Evidence from Egypt, India and the Philippines
            Hampel-Milagrosa, Aimée / Markus Loewe / Caroline Reeg (2013)
            
                    
Discussion Paper 21/2013
                
            
            
                Only few micro and small enterprises succeed to upgrade in low and middle income countries - and these tend to be the privileged ones: Most of them are owned by people with above-average education, financial reserves, good personal and business networks, motivation and readiness to take risks.