Financing Firm Growth: The Role of Capital Markets in Low- and Middle-Income Countries

Pablo Hernando-Kaminsky is an economist in the Economics and Market Research Department of the International Finance Corporation. Previously, he was a Postdoctoral Associate in the Macroeconomics and Growth Unit of the Development Research Group at the World Bank. He obtained my PhD in Economics from Johns Hopkins University in 2023. Pablo’s research interests lie at the intersection of international finance and macroeconomics.

Manuel García-Santana is a Senior Economist in the Macroeconomics and Growth Unit of the Development Research Group. His research focuses on the macroeconomic aspects of development and trade. Before joining the World Bank, Manuel was an Associate Professor at Pompeu Fabra University and a Kenen Fellow at Princeton University, International Economics Section. 

Alvaro Pedraza is a Senior Economist in the Finance and Private Sector Development Team of the World Bank's Development Research Group. His research interests include financial economics, asset pricing and macroeconomics. Prior to joining the Bank he worked at the Federal Reserve Bank of Atlanta, the Inter-American Development Bank, the Colombian Association of Pension Fund Administrators and the National Collateral Fund of Colombia. He holds a B.A. in Physics and a M.A. in Economics from Universidad de los Andes in Colombia, and a Ph.D. in Economics from the University of Maryland.

Doerte Doemeland is the Director for Strategy and Operations in the Prosperity Vice Presidency, a role she took on in July 2024. Before this assignment, she was the Practice Manager for Economic Policy for Latin America and the Caribbean and for the Global Macro and Debt Unit. Doerte has extensive management and operational experience, engaging with senior government officials on a wide range of policy reforms in Africa, Eastern Europe and Central Asia, and Latin America and the Caribbean through advisory services and lending operations.

Denis Medvedev is Chief Economist for Global Industries at the IFC. He was previously Director of Economic Policy Research department at the IFC and Manager of Firms, Entrepreneurship, and Innovation unit at the World Bank. In his earlier assignments at the World Bank, Denis was responsible for policy dialogue, lending, and analytical work in South Asia, Latin America & the Caribbean, and Africa, and developed forward-looking scenarios for the global economy.