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

Author: Amr Hosny

Volume/Issue: Volume 2020 Issue 062

Publication date: May 2020

ISBN: 9781513545363

$18.00

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Topics covered in this book

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Exports and Imports , Labor , Money and Monetary Policy , WP , firm , firm performance , export , enterprise surveys , access to credit , export diversification , Nigeria , Nigeria enterprise survey question , export orientation , survey response , firm level , Exports , Credit , Capacity utilization , Employment , Global , Sub-Saharan Africa , Business environment

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Summary

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.