We develop a theoretical model in which debt and hedging decisions are made simultaneously, and test its predictions empirically. To address inefficiencies in current estimation methods for simultaneous equations with censored dependent variables, we build an original estimation technique based...

Using new data from 42 African countries, we investigate the effects of public and private credit registries on firms’ access to finance as well as the effect of public credit registries’ design on the severity of the financing constraint. Our results show that access to finance is on...

This paper describes how Africa’s wind energy markets have evolved over the years and the structural characteristics affecting the development of wind energy projects on the continent; providing what we believe is the first mapping of the continent’s wind energy market. Results from our...

Using new data from 42 African countries, we investigate the effects of public and private credit registries on firms’ access to finance as well as the effect of public credit registries’ design on the severity of the financing constraint. Our results show that access to finance is on...

Financing Africa: through the crisis and beyond is a call to arms for a new approach to Africa's financial sector development. First, policy makers should focus on increasing competition within and outside the banking sector to foster innovation. This implies a more open regulatory mindset,...