Using a mix of survey and secondary datasets on Africa, we document that banks and non-bank financial institutions account for more than 85 percent of corporate bonds issued in Africa during 2000—2020, with a market capitalization of over 80 percent of these bon
How costly is the misallocation of production that we might expect to result from distortions such as market power, incomplete contracts, taxes, regulations, or corruption?
This project has two basic objectives. First, we analyse the stylised facts that characterise price setting behaviour in the Economic Community of West African States (ECOWAS).
How do consumers’ information frictions affect firms’ choice of location within a city? This paper combines an original data collection and a quantitative equilibrium model of consumer search and firm location to answer this question.
This study examines the extent of market integration within the West African sub-region using the theory of “law of one price”. The dataset covers three countries: Nigeria, Benin and Togo accounting for about three quarters of the sub-region economy.
Informal actors often compete with formal or regulated ones. Regulated actors therefore can be natural allies in government attempts to enforce laws and regulations. Yet they often are not.
