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Macro-Structural Obstacles to Firm Performance: Evidence from 2,640 Firms in Nigeria

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  • Amr Hosny

    (International Monetary Fund)

Abstract

A recent World Bank enterprise survey identified access to finance as the top constraint to Doing Business in Nigeria. This paper (i) studies firm characteristics associated with more access to finance and export diversification; and (ii) quantifies the impact of these structural obstacles on firm performance. Results suggest that (i) larger and export-oriented firms are about 40 percentage points less likely to report access to finance as a business obstacle; and (ii) better access to finance and export diversification can help firm employment as much as 80 percent higher. Results are largely robust to different specifications and estimation methods.

Suggested Citation

  • Amr Hosny, 2020. "Macro-Structural Obstacles to Firm Performance: Evidence from 2,640 Firms in Nigeria," The African Finance Journal, Africagrowth Institute, vol. 22(1), pages 50-69.
    • Handle: RePEc:afj:journl:v:22:y:2020:i:1:p:50-69
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    File URL: https://journals.co.za/content/finj/22/1/ejc-finj-v22-n1-a3
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    Keywords

    Enterprise surveys; access to credit; export diversification; Nigeria;
    All these keywords.

    JEL classification:

    • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages

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