Using a panel of listed firms in Ghana, Kenya, Nigeria, South Africa and Zimbabwe, we investigate corporate capital structure in Africa, with emphasis on the extent to which firm characteristics and cross-country institutional differences determine the way firms raise capital. Results indicate...

We use a World Bank survey data on the financing of incremental production to examine firms’ debt choice decision in eleven African countries, where capital markets are evolving and/or fraught with inadequate institutional infrastructure. Such a landscape suggests that hitherto overlooked...

How do legal environments and finance affect investments by firms in the East African community? Property rights, external and internal finance channels - key conduits of the transmission mechanism from 'legal environment' to 'investment'- individually and interactively affect firms' decision...

Labour market flexibility is an important issue in both development and labour economics. More flexibility in the labour market is believed to facilitate job creation, but also makes it easy for employers to terminate employment contracts and may be in conflict with the notion of decent jobs as...

This paper employs the Panzar and Rosse (1987) and the Bresnahan models to determine the level of competition in the South African banking sector. This level of competition was tested during the period 1998 to 2008 for the Panzar and Rosse approach and from 1992 to 2008 for the Bresnahan model....