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

A recent World Bank enterprise survey identified access to finance as the top constraint to Doing Business in Nigeria. In this context, the objective of this paper is two-fold: (i) study firm characteristics associated with more access to finance and export diversification; and (ii) quantify the imp...

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Bibliographic Details
Main Author: Hosny, Amr
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2020
Series:IMF Working Papers
Subjects:
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
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245 0 0 |a Macro-Structural Obstacles to Firm Performance: Evidence from 2,640 Firms in Nigeria  |c Amr Hosny 
260 |a Washington, D.C.  |b International Monetary Fund  |c 2020 
300 |a 21 pages 
651 4 |a Nigeria 
653 |a Credit 
653 |a Banks 
653 |a Labour; income economics 
653 |a Employment; Economic theory 
653 |a Production 
653 |a Aggregate Labor Productivity 
653 |a Exports and Imports 
653 |a Mortgages 
653 |a Business enterprises 
653 |a Money 
653 |a Labor 
653 |a Macroeconomics: Production 
653 |a Business environment 
653 |a Capacity utilization 
653 |a International trade 
653 |a Financial Institutions and Services: General 
653 |a Macroeconomics 
653 |a Employment 
653 |a Depository Institutions 
653 |a Monetary economics 
653 |a Micro Finance Institutions 
653 |a Monetary Policy, Central Banking, and the Supply of Money and Credit: General 
653 |a Export diversification 
653 |a Unemployment 
653 |a Trade: General 
653 |a International economics 
653 |a Economic sectors 
653 |a Corporate Finance 
653 |a Aggregate Human Capital 
653 |a Firm Performance: Size, Diversification, and Scope 
653 |a Industrial capacity 
653 |a Exports 
653 |a Wages 
653 |a Intergenerational Income Distribution 
653 |a Money and Monetary Policy 
653 |a Production and Operations Management 
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520 |a A recent World Bank enterprise survey identified access to finance as the top constraint to Doing Business in Nigeria. In this context, the objective of this paper is two-fold: (i) study firm characteristics associated with more access to finance and export diversification; and (ii) quantify 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, while firms perceiving access to finance as a constraint are, on average, about 10-40 percentage points less likely to be export-oriented diversified firms; and (ii) better access to finance and export diversification can help firm employment —as much as 80 percent higher— and capacity utilization. Results are largely robust to different specifications and estimation methods