Financial Access and Firm Productivity in Sub-Saharan Africa

Financial Constraints Matter: Empirical Evidence on Borrowing Behavior, Microfinance and Firm Productivity

“…The size of the r-squared is now very comparable to other studies using similar firm performance measures, i.e. a type of labour productivity measure (see Rijkers et al, 2010;Kinda & Loening, 2010;Murisa and Chikweche, 2013;Nagler and Naudé, 2014;Bokpin et al, 2018).…”

“…Nagler and Naudé (2014) use a dummy for perceived access to credit and show that this hampers labour productivity of firms in Ethiopia and Malawai, but has no effect on firm performance in Nigeria and Uganda. More recently, Bokpin et al (2018) show that alleviating credit constraints as measured by the availability of overdraft facilities is associated with higher firm productivity in South Africa.…”

Financial Access and Productivity Dynamics in Sub-Saharan Africa

“…Third, the attendant contemporary literature on productivity has fundamentally focused on inter alia: productivity externalities that are driven by foreign investment (Fanta & Makina, 2017;Dunne & Masiyandima, 2017); variations in the distribution of labour and concerns about gender (Elu & Price, 2017); the relationship between exports and manufacturing (Cisse, 2017); education characteristics and intensity of children engagement in the labour market (Ahouakan & Diene, 2017); investigation of gaps in output in relation to potential economic productivity (Fedderke & Mengisteab, 2017); the engagement of women to improve productivity in the argricultural sector (Uduji, Okolo-Obasi, 2018a; the moderating importance of value chains on the impact of foregn investment on economic growth and productivity (Meniago & Asongu, 2019); investigation of nexuses underpinning TFP and the manufacturing sectors with relevance to cross-sector differences in the growth of productivity (Kreuser & Newman, 2018); the importance of information technology in convergence in TFP (Maryan & Jehan, 2018) and financial access and TFP in SSA (Bokpin, Ackah & Kunawotor, 2018).…”

“…The study in the literature closest to the positioning of this research is Bokpin et al (2018) which has investigated the impact of financial access on the productivity of manufacturing corporations in SSA. Employing Ordinary Least Squares and Random Effects regressions, the study establishes that access to a cost-effective credit line improves the productivity of firms.…”

The Stability of Demand for Money in the Proposed Southern African Monetary Union

“…The findings show divergence across countries in the stability of money. This divergence is articulated in terms of differences in, cointegration, CUSUM (cumulative sum) and 5 The positioning of this research is also partially motivated by a growing strand of literature on the relevance of sovereign debt, financial access and alternative mechanisms of financing in Africa's development (Gevorkyan & Kvangraven, 2016;Danquah et al, 2017;Amponsah, 2017;Boamah, 2017;Kusi et al, 2017;Bayraktar & Fofack, 2018;Tchamyou, 2019aTchamyou, , 2019bBoateng et al, 2018;Kusi & Opoku-Mensah, 2018;Dafe et al, 2018;Gyeke-Dako et al, 2018;Tchamyou et al, 2019;Bokpin et al, 2018;Asongu & Odhiambo, 2019). CUSUMSQ (CUSUM squared) tests, short run and long-term determinants and error correction in event of a shock.…”