Persistence of profitability in the Kenyan banking industry masks the limited understanding of the adjustment process of the profit seeking behavior during economic shocks. Whether the adjustment is in response to the adverse outcomes of the shocks, or the inevitable macroeconomic policy...

This paper sought to establish the linkages between bank performance and real sector productivity. We use data for five East African countries (Ethiopia, Kenya, Rwanda, Tanzania, and Uganda) for the period 2014-2022. We initially deploy the traditional panel fixed effects regression and...

We demonstrate how the incentives of firms that partially own their suppliers or customers to foreclose rivals depend on how the partial owner can extract profits from the target. Compared to a fully vertically integrated firm, a partial owner may obtain only a share of the target's profit but...