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Title:Credit Accessibility and Investment Decisions in Uganda's Manufacturing Sector: An Empirical Investigation
Authors:Obwona, Marios B.
Mugume, Adam
Periodical:African Review of Money, Finance and Banking - Supplement to 'Savings and Development'
Geographic term:Uganda
Economics and Trade
Development and Technology
External link:https://www.jstor.org/stable/23026351
Abstract:In the recent literature the entrepreneur is seen as the driving force behind economic growth. In order to analyse the key constraints facing entrepreneurs, this study examines the behaviour of lenders and borrowers with a view to ascertaining the allocation of credit to firms and the implications, using manufacturing firms in Uganda as a case study. It looks at factors that determine credit accessibility; assesses whether there is a biased distribution of credit in terms of the size of the firm and the sector of production; and examines the question of whether monetary policy has any significant effects in credit squeeze/expansion. Evidence is presented that manufacturing firms in Uganda are rationed in their access to credit. Small firms and firms in the agricultural sector find it most difficult to get loans from financial institutions. Ugandan-owned firms also appear less likely to obtain credit than firms that are foreign owned. App., bibliogr., sum.