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Credit demand in Mozambican manufacturing

  • Bruce Byiers

    (University of Sussex, Brighton, UK)

  • John Rand

    (University of Copenhagen, Copenhagen K, Denmark)

  • Finn Tarp

    (University of Copenhagen, Copenhagen K, Denmark)

  • Jeanet Bentzen

    (University of Copenhagen, Copenhagen K, Denmark)

This paper uses two industrial firm surveys to identify the key determinants of credit demand in Mozambican manufacturing. We construct five different measures of being credit constrained and estimate desired debt demand. Besides firm size and ownership structure, we find evidence that general manager education and business association membership are associated with whether a firm is credit constrained or not. Using our preferred measure of credit constraint suggests that around 43 per cent of the firms surveyed are constrained, and these enterprises would almost triple their debt burden if borrowing constraints were relaxed. Copyright © 2009 John Wiley & Sons, Ltd.

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Article provided by John Wiley & Sons, Ltd. in its journal Journal of International Development.

Volume (Year): 22 (2010)
Issue (Month): 1 ()
Pages: 37-55

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Handle: RePEc:wly:jintdv:v:22:y:2010:i:1:p:37-55
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  1. Fabio Schiantarelli, 1995. "Financial constraints and investment: a critical review of methodological issues and international evidence," Conference Series ; [Proceedings], Federal Reserve Bank of Boston, vol. 39, pages 177-226.
  2. John Rand, 2004. "Credit Constraints and Determinants of the Cost of Capital in Vietnamese Manufacturing," Discussion Papers 05-01, University of Copenhagen. Department of Economics.
  3. Paul Collier & Stefan Dercon & Marcel Fafchamps, 2000. "Credit Constraints in Manufacturing Enterprises in Africa," Economics Series Working Papers WPS/2000-24, University of Oxford, Department of Economics.
  4. Fafchamps, Marcel, 2000. "Ethnicity and credit in African manufacturing," Journal of Development Economics, Elsevier, vol. 61(1), pages 205-235, February.
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