A Proposed Framework to Analyse the Impact Investing Ecosystem in a Cross-country Perspective

This study develops an impact investing ecosystem framework, presenting a comprehensive overview of the sector and identifying key challenges and possibilities. Using Japan and Singapore as case studies, it reveals small market scales and unique development challenges. The proposed framework, drawing on the entrepreneurial ecosystem approach, offers a holistic view of enabling actors, potential, and challenges, aiding in the design of suitable policies for impact investing growth.