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


Financial Performance of Foreign Banks in Developing Countries: Evidence from sub-Saharan Banking Markets. Making Finance Work for Africa. Working Paper Series. Issue 3. July 2016.[download]

Internal Capital Market Practices of Multinational Banks: Evidence from South Africa. Making Finance Work for Africa. Working Paper Series. Issue 2. December 2015. [download]

Privatisation in developing countries: What are the lessons of experience?. With Saul Estrin. UK Department for International Development (DFiD) Topic Guide. November 2015.[Topic Guide Privatisation Nov]

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]

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]


  1. “Emerging Economy MNEs: How does home country maturity matter?”. With Saul Estrin and Klaus Meyer
  1. “Mobile Payment Services in developing countries: When Business Models interact with Transaction Costs”. With Saul Estrin and Susanna Khavul.
  1. “Foreign companies in Africa: from extracting to diversifying. A home country analysis of investment strategies”.
  1. “Financial performance of foreign banks in developing countries. Evidence from sub-Saharan African banking markets”.
  1. “The organization of multinational firms in uncertain environments”.


“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