My research interests lie at the intersection of Corporate strategy, Business Economics, and Financial Development.

Peer-reviewed publications:

Innovations in emerging markets: the case of Mobile Money. With Susanna Khavul and Saul Estrin. Industrial and Corporate Change, 2019, Pages 1–27 [download]

Information in online labour markets. With Catherine Thomas. Oxford Review of Economic Policy, Volume 34, Issue 3, 2 July 2018, Pages 376–392 [download]

Internal Capital Market Practices of Multinational Banks: Evidence from South Africa. Journal of Banking & Finance. Volume 90, May 2018, Pages 131–145 [download]

Emerging Economy MNEs: How does home country munificence matter? With Saul Estrin and Klaus Meyer. Journal of World Business. Online March 2018. [download]

Financial Performance of Foreign Banks in Developing countries: Evidence from Sub-Saharan African Banking Markets. Journal of Banking & Finance. Volume 88, March 2018, Pages 292-311 [download]

Privatisation in developing countries: What are the lessons of experience? With Saul Estrin. The World Bank Research Observer. Volume 33, Issue 1, 1 February 2018, Pages 65–102 [download]

Rural households’ involvement in pro-environment programs : The Sloping Land Conversion Program in Inner Mongolia. With Sylvie Demurger. Ecological Economics, 116 (2015), 25-33. [download]

Other publications:

Sub-Saharan banking sectors: Results from a survey of banking groups. With Jean-Philippe Stijns. In Banking in Africa: Delivering on Financial Inclusion, Supporting Stability. The European Investment Bank. 2018. [download]

African Banking Groups: Recent Trends and Strategic Issues. With Jean-Philippe Stijns. In Banking in sub-Saharah Africa: Recent Trends and Digital Financial Inclusion. The European Investment Bank. 2016. [download]

SME financing by banks in East Africa: Taking Stock of Regional Developments. Mambo Research Papers on East Africa XII (2), 2014. [download]

Household Remittances, Inequality and Poverty: Evidence from the State of Kerala. In S. Irudaya Rajan, M. Percot (Ed.), Dynamics of Indian Migration. Historical and Current Perspectives, New Delhi, Routledge, June 2011.

Migrant workers’ remittances: what is the impact on the economic and financial development of Sub-Saharan African countries? Banque de France Bulletin Digest, N°174, July 2008. With Emmanuel Rocher. [download]

Working Papers:

    • “Foreign companies in Africa: from extracting to diversifying. A home country analysis of investment strategies”.
    • “Mobile Payment Services in developing countries: firm capabilities and financial development”. With Saul Estrin and Susanna Khavul.
    • “Regulating Mobile Money. Lessons from experience in Bangladesh, Tanzania and Myanmar”. With Saul Estrin and Susanna Khavul. [Draft]


“Essays on performance, corporate financial strategy and organization of multinational banks in Africa”

My PhD thesis can be found here: [PhD]

My PhD thesis has consisted of three inter-related research projects. In the first chapter I examined the financial performance of multinational banks in Africa using panel data over a 10-year period. In the second chapter I analyzed internal capital market practices of banks in South Africa. The third part of the research explores the relations between multinational banks’ headquarters and their subsidiaries located in sub-Saharan Africa through a bank survey. I also examined the lending practices of banks in Africa, especially with regards to SMEs.

To collect data I conducted fieldwork in Kenya (September-November 2013), Tanzania (November-December 2013) and Ghana (March 2014). I was based at the IGC in Tanzania and at the Institut Francais de Recherche en Afrique in Nairobi, Kenya.

Cape Town – Mouille Point