This page contains relevant publications and resources produced by ANDE, our members, and other partners who are active in the SGB sector.
From Potential to Action: Bringing Social Impact Bonds to the US - McKinsey & Company, May 2012

Mobile Value Added Services: A Business Growth Opportunity for Women Entrepreneurs - Cherie Blair Foundation for Women, May 2012
From Blueprint to Scale: The Case for Philanthropy in Impact Investing - Monitor, April 2012

Catalysing Growth in Women Run Small and Medium Enterprises (SMEs) - ICRW, March, 2012
An independent evaluation of the impact of the 10,000 Women program in India by The International Center for Research on Women (ICRW)
The Impact Investor, The Need for Evidence and Engagment - Pacific Community Ventures, March 2012

The Index of Global Philanthropy and Remittances 2012 - The Hudson Institute 
Report on Support to SMEs in Developing Countries Through Financial Intermediaries - Dalberg, November 2011
Micro-, small and medium-sized enterprises in emerging markets: how banks can grasp a $350 billion opportunity - McKinsey & Company
![]()
Bridging the Gap: The Business case for Financial Capability - Executive Summary (March 2012)
Citi Foundation
![]()
Banks and SMEs: Raising the Game. 4th Regional Survey in Latin America and the Caribbean 2011 (February 2012)

Investing for impact: How social entrepreneurship is redefining the meaning of return
Credit Suisse and the Schwab Foundation for Social Entrepreneurship (January 2012)

VEGA Tourism Development Report
The Volunteers for Economic Growth Alliance (VEGA) (January 2012)
Sharing Risk in a World of Dangers and Opportunities: U.S. Development Finance Tools
Daniel Runde, Center for Strategic & International Studies (December 2011)
Growth Finance in Sub-Saharan Africa
With funding from Shell Foundation: Jonny Gill, Mele-Ane Havea, Tasmin Jones, Marius Chirila (December 2011)

Women Entrepreneurs in Mobile Retail Channels: Empowering Women, Driving Growth
The Cherie Blair Foundation for Women, STC and TNS, November 2011
Mapping the Social/Inclusive Business Field in Brazil
ANDE Brazil Chapter with support from Fundación Avina, Potencia Ventures, and Plano CDE (November 2011)
Information Economy Report 2011
United Nations Conference on Trade and Development (UNCTAD), October 2011
Youth Entrepreneurship -Closing the gap,
The Prince's Youth Business International, September 2011
Social Impact Investment Manual: An Introduction for Social Entrepreneurs
Technishe Universitat Munchen, Schwab Foundation for Social Entrepreneurship, September 2011
2011 IRIS Data Report,
Global Impact Investing Network (GIIN)
Beyond the Margin: Redirecting Asia's Capitalism,
Cynthia Chua, Abhinav Gupta, Vivian Hsu, Justin Jimenez, Yvonne Li | Avantage Ventures, August 2011
Note: This research document is a result of an ANDE-funded Capacity Development Fund grant.
Coordinating Impact Capital: A New Approach to Investing in Small and Growing Businesses
John Kohler, Thane Kreiner, Jessica Sawhney | Santa Clara University, Center for Science, Technology and Society; July 2011
Promise and Progress: Market-Based Solutions to Poverty in Africa,
Michael Kubzansky, Ansulie Cooper, Victoria Barbary | Monitor Inclusive Markets, May 2011
Investing in Emerging Markets,
Marco Arosio, Responsible Research & Willow Tree Impact Investors, May 2011
Impact Investing in West Africa,
Dalberg Global Development Advisors, April 2011
ANDE 2010 Impact Report
The Aspen Network of Development Entrepreneurs, March 2011
Rules for Growth: Promoting Innovation and Growth Through Legal Reform,
The Kauffman Foundation, February 2011
Creating Shared Value,
Harvard Business Review, Michael E. Porter and Mark R. Kramer, January, 2011
Impact Investing: A Framework for Policy Design and Analysis,
By: Thornley, Wood, Grace and Sullivant, Harvard Kennedy School, January 2011
2010:![]()
Cultural Entrepreneurship: At the Crossroads of People, Place and Prosperity - Global Center for Cultural Entrepreneurship 2010
Impact Investing: A Special Report from This is Africa,
By: Paddy Partridge, Anne Stubert, Nathan Williams and Alex Carter, The GIIN, December 2010
More than Money: Impact Investing for Development,
By: John Simon and Julia Barmeier, Center for Global Development, December 2010
The Social and Economic Impact of Standard Chartered Ghana,
By: Prof. Ethan B. Kapstein and Dr. Rene Kim, Standard Chartered, December 2010
Note: This research document is a result of an ANDE-funded Capacity Development Fund grant.
Strengthening SMEs: A Guide to Business Management and Governance for Small and Medium Enterprises in East Africa,
By: Wanjohi Ndagu & Richard Obuobi, African Agricultural Capital, December 2010
Impact Investments: An Emerging Asset Class,
J.P. Morgan, November 2010

Global Financial Inclusion: Achieving full financial inclusion at the intersection of social benefitand economic sustainability,
McKinsey & Company, Fall 2010

Scaling-Up SME Access to Financial Servicesin the Developing World,
International Finance Corporation (IFC) Report, November 2010
Credit Gap - Two Trillion and Counting
IFC and McKinsey, October 2010

Note: This research document is a result of an ANDE-funded Capacity Development Fund grant.
Money for Good: The US Market for Impact Investments
and Charitable Gifts from Individuals Summary Findings,
Hope Consulting, August 2010

Building Houses, Financing Homes:
India's Rapidly Growing Housing and Housing Finance Markets for the Low-Income Customer,
By: Anamitra Deb, Ashish Karamchandani & Raina Singh, Monitor Inclusive Markets, July 2010
Catalyzing Support for Small Growing Businesses in Developing Countries:
Mapping the Policies of International Development Donors & Investors,
By: Estera Barbarasa, Aspen Network of Development Entrepreneurs, June 2010

The Kauffman Index of Entrepreneurial Activity: 1996-2009,
By: Robert W. Fairlie, Kauffman Foundation, May 2010

ANDE 2009 Impact Report,
The Aspen Network of Development Entrepreneurs, March 2010

Stimulating Investment in Emerging-Market SMEs,
The Milken Institute, October 2009
Investing for Social & Environmental Impact,
Monitor Institute, January 2009
Beyond the Margin: Redirecting Asia's Capitalism,
Cynthia Chua, Abhinav Gupta, Vivian Hsu, Justin Jimenez, Yvonne Li | Avantage Ventures, August 2011
© 2012 Aspen Institute