Determinants of Financing Constraints in East African Countries’ SMEs

Abstract

Small and Medium-sized Enterprises (SMEs) are the main player in developing and strengthening zonalintegration. This study used a sample of 1933 firms located within 5 East African countries with economicintegration known as East Africa Community (EAC). Data was extracted from World Bank Business EnterprisesSurvey to evaluate determinants of financing obstacles of firms. Analysis of data was conducted by runningordered probit model and multivariate regression model to determine which firms’ industry or country’scharacteristics explain and experienced financial constraints in their operations. The study found out thatfinancing constraints in East African firms broadly based across firms but SMEs are mostly affected.

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