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Private Sector Development in West AfricaFinancial Constraints and Private Sector Development Within the ECOWAS

Private Sector Development in West Africa: Financial Constraints and Private Sector Development... [The paper postulates that limited finance is the primary impediment to private sector development and proceeds to highlight this using an endogenous growth model in a panel data framework of ECOWAS countries. The significance of finance in spurring growth has been initially debated upon and finally proven in the literature both at the macro level; across countries (King and Levine, Q J Econ108(3):688–726,1993; Levine and Zervos, Am Econ Rev 88(3):537–558, 1998) and at the micro level within industries (Rajan and Zingales, Am Econ Rev 88:559–586, 1998; Guiso et al., Econ Pol 19(40):523–577, 2005, Beck et al., Finance, firm size and growth”, NBER (Cambridge, MA) Working Paper 10983, 2006). The paper will thus attempt to prove a case for ECOWAS countries and thereafter postulate means of increasing finance available to the private sector.] http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png

Private Sector Development in West AfricaFinancial Constraints and Private Sector Development Within the ECOWAS

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Publisher
Springer International Publishing
Copyright
© Springer International Publishing Switzerland 2014
ISBN
978-3-319-05187-1
Pages
141 –164
DOI
10.1007/978-3-319-05188-8_7
Publisher site
See Chapter on Publisher Site

Abstract

[The paper postulates that limited finance is the primary impediment to private sector development and proceeds to highlight this using an endogenous growth model in a panel data framework of ECOWAS countries. The significance of finance in spurring growth has been initially debated upon and finally proven in the literature both at the macro level; across countries (King and Levine, Q J Econ108(3):688–726,1993; Levine and Zervos, Am Econ Rev 88(3):537–558, 1998) and at the micro level within industries (Rajan and Zingales, Am Econ Rev 88:559–586, 1998; Guiso et al., Econ Pol 19(40):523–577, 2005, Beck et al., Finance, firm size and growth”, NBER (Cambridge, MA) Working Paper 10983, 2006). The paper will thus attempt to prove a case for ECOWAS countries and thereafter postulate means of increasing finance available to the private sector.]

Published: May 5, 2014

Keywords: Private sector; Economic development; Credit constraint; Finance; Growth

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