Does Access to Finance Enhance SME Innovation and Productivity in Nigeria? Evidence from the World Bank Enterprise Survey

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dc.contributor.authorAdegboye, A.C.
dc.contributor.authorIweriebor, S.
dc.date.accessioned2022-01-19T12:22:56Z
dc.date.available2022-01-19T12:22:56Z
dc.date.issued2018
dc.descriptionScholarly articlesen_US
dc.description.abstractThe primary link between financial institutions and economic performance is the provision of resources by these institutions to businesses in order to drive enterprise development. In this study, the role of access to finance in enhancing innovation and productivity among Nigerian small and medium-sized enterprises (SMEs) is investigated using the World Bank Enterprise Survey (ES) dataset. Access to finance is categorized as external and internal to the firm. Using the logit estimation technique, the study finds that ease of accessing bank credit is the strongest positive force in driving all types of innovation among SMEs in Nigeria. In the same vein, the source of investment financing matters in terms of how it affects innovation: both internal and external sources improve investment in product, process, and organizational innovation, but only external financing has a significant effect on R&D spending and use of foreign licensed technology. Overall spending on R&D is only driven by access to external finance by the SMEs. The study also shows that increased access to finance may actually lead to productivity decline among SMEs in Nigeria.en_US
dc.identifier.citationAdegboye, A.C. and Iweriebor, S. (2018). Does access to finance drive innovation and productivity of small scale businesses in Nigeria? Evidence from the World Bank Enterprise Survey, African Development Review, 30(4), 449-461.en_US
dc.identifier.otherhttps://doi.org/10.1111/1467-8268.12351
dc.identifier.urihttps://ir.unilag.edu.ng/handle/123456789/10542
dc.language.isoenen_US
dc.publisherAfrican Development Reviewen_US
dc.subjectAccess to financeen_US
dc.subjectFinancing investmenten_US
dc.subjectInnovationen_US
dc.subjectProductivityen_US
dc.subjectSMEen_US
dc.subjectResearch Subject Categories::SOCIAL SCIENCESen_US
dc.titleDoes Access to Finance Enhance SME Innovation and Productivity in Nigeria? Evidence from the World Bank Enterprise Surveyen_US
dc.typeArticleen_US
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