Browsing by Author "Turkson, E."
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Item Financing the Growth of SMEs in Africa: What are the Constraints to SME Financing within ECOWAS?(Elsevier, 2017-03-29) Quartey, P.; Turkson, E.; Abor, J.Y.This study attempts to provide some understanding about SMEs’ access to finance within the West African sub-region with particular interest in establishing whether there are similarities and/or differences in the determinants of SMEs access to finance across countries in SSA. For robustness sake, we developed both subjective and objective measures of access to finance. Using data from World Bank’s Enterprise Survey data set, we examine the determinants of access to finance both at the sub-regional level and at the country-level. We found that, generally, at the sub-regional level, access to finance is strongly determined by factors such as firm size, ownership, strength of legal rights, and depth of credit information, firm’s export orientation and the experience of the top manager. However, we found important differences in the correlates of firms’ access to finance at the country level. The findings of this study therefore have important implications for policy.Item Financing the growth of SMEs in Africa: What are the contraints to SME financing within ECOWAS?(Review of Development Finance, 2017) Quartey, P.; Turkson, E.; Abor, J.Y.; Iddrisu, A.M.This study attempts to provide some understanding about SMEs’ access to finance within the West African sub-region with particular interest in establishing whether there are similarities and/or differences in the determinants of SMEs access to finance across countries in SSA. For robustness sake, we developed both subjective and objective measures of access to finance. Using data from World Bank's Enterprise Survey data set, we examine the determinants of access to finance both at the sub-regional level and at the country-level. We found that, generally, at the sub-regional level, access to finance is strongly determined by factors such as firm size, ownership, strength of legal rights, and depth of credit information, firm's export orientation and the experience of the top manager. However, we found important differences in the correlates of firms’ access to finance at the country level. The findings of this study therefore have important implications for policy. © 2017 Africagrowth InstituteItem Regional integration and non-tariff barriers to Intra-Sub-Saharan Africa trade(The World Economy, 2022) Turkson, E.; Oduro, A.D.; Baffour, P.T.; Quartey, P.The paper assesses the ex-post trade effect of sub-regional trade agreements (RTAs), financial integration and other non-tariff barriers on intra-regional trade involving 43 Sub-Saharan Africa (SSA) countries. The objective is to find out if RTAs within SSA had increased trade flows to inform current efforts of establishing a successful continental free trade area in SSA. Estimating a gravity model augmented with measures of trade agreements and financial integration, the paper made use of bilateral trade flows and key gravity covariates from CEPII database over the period 1960–2015. After controlling for the endogeneity of the trade agreement dummy, multilateral price resistance and zero-valued trade flows, we find RTAs within SSA and especially among Economic Community of West Afri can States and Southern Africa Development Community members to have had a positive and significant impact on bilateral trade. Financially integrated trading partners also traded more, while we also found distance, landlocked-ness, common currency and colonial link to have an impact on trade costs and bilateral trade flows within SSA. The results indicate the need to focus on policies to expand and integrate regional markets in SSA by removing impediments to trade and improving on trade facilitation measures to significantly improve trade performance under the newly established African Continental Free Trade Area.