Formal and Informal Institutions
Formal and informal institutions’ lending policies and access to credit by small-scale enterprises in Kenya: An empirical assessment
By
Rosemary Atieno
University of Nairobi
AERC Research Paper 111 African Economic Research Consortium, Nairobi November 2001
© 2001, African Economic Research Consortium.
Published by: The African Economic Research Consortium P.O. Box 62882 Nairobi, Kenya
Printed by:
The Regal Press Kenya, Ltd. P.O. Box 46116 Nairobi, Kenya
ISBN 9966-944-52-4
Contents
List of abbreviations List of tables Acknowledgements Abstract 1. 2. 3. 4. 5. 6. 7. 8. Introduction Problem statement Objectives and hypothesis of the study Literature review Structure and performance of the financial sector in Kenya Methodology Empirical results Conclusions and policy implications 1 3 4 5 13 20 23 37 40
References
List of abbreviations
ACK ANOVA GDP ICDC K-REP Ksh MAGs NBFIs NGOs POSB PRIDE ROSCAs SACCOs SCAs SMEs Anglican Church of Kenya Analysis of variance Gross domestic product Industrial and Commercial Development Corporation Kenya Rural Enterprise Programme Kenya shillings Mutual assistance groups Non-bank financial institutions Non government organisations Post Office Savings Bank Promotion of Rural Initiatives and Development Enterprises Rotating savings and credit associations Savings and credit cooperative societies Savings and credit associations Small and microenterprises
List of tables
1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. Distribution of main occupation of respondents Selected characteristics of the surveyed entrepreneurs Results of t-test for the differences in means between the amounts applied for and received in both formal and informal credit markets Differences between means: Amount of credit from formal and informal sources Differences between means in credit from informal market segments Distribution of the use of formal sources for initial and operating capital Formal credit sources used by past and
By
Rosemary Atieno
University of Nairobi
AERC Research Paper 111 African Economic Research Consortium, Nairobi November 2001
© 2001, African Economic Research Consortium.
Published by: The African Economic Research Consortium P.O. Box 62882 Nairobi, Kenya
Printed by:
The Regal Press Kenya, Ltd. P.O. Box 46116 Nairobi, Kenya
ISBN 9966-944-52-4
Contents
List of abbreviations List of tables Acknowledgements Abstract 1. 2. 3. 4. 5. 6. 7. 8. Introduction Problem statement Objectives and hypothesis of the study Literature review Structure and performance of the financial sector in Kenya Methodology Empirical results Conclusions and policy implications 1 3 4 5 13 20 23 37 40
References
List of abbreviations
ACK ANOVA GDP ICDC K-REP Ksh MAGs NBFIs NGOs POSB PRIDE ROSCAs SACCOs SCAs SMEs Anglican Church of Kenya Analysis of variance Gross domestic product Industrial and Commercial Development Corporation Kenya Rural Enterprise Programme Kenya shillings Mutual assistance groups Non-bank financial institutions Non government organisations Post Office Savings Bank Promotion of Rural Initiatives and Development Enterprises Rotating savings and credit associations Savings and credit cooperative societies Savings and credit associations Small and microenterprises
List of tables
1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. Distribution of main occupation of respondents Selected characteristics of the surveyed entrepreneurs Results of t-test for the differences in means between the amounts applied for and received in both formal and informal credit markets Differences between means: Amount of credit from formal and informal sources Differences between means in credit from informal market segments Distribution of the use of formal sources for initial and operating capital Formal credit sources used by past and