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dc.contributor.authorShibia, Adan Guyo
dc.date.accessioned2023-02-25T12:05:37Z
dc.date.available2023-02-25T12:05:37Z
dc.date.issued2023
dc.identifier.urihttps://repository.kippra.or.ke/handle/123456789/4078
dc.description.abstractThis study analysed factors influencing firms’ use of formal and informal finance in coping with droughts and floods. It utilized a cross-sectional survey of 802 mostly Micro and Small Enterprises (MSEs) in 27 counties in Kenya that are prone to droughts and floods. The study covered firms in manufacturing, wholesale and retail trade, and accommodation and food services sectors. Bivariate probit regressions reveal that choice of finance coping mechanisms varies by firm-specific characteristics, sector and locational features. Sectors with predominantly informal firms reveal higher usage of informal finance, signalling vulnerabilities. Micro firms and female-owned firms show dependence on informal finance, while educational attainment of the firm’s owner, location within urban clusters and larger firms are associated with use of formal finance in coping with droughts and floods. The findings reveal that firms’ adaptations to climate change risks require measures to facilitate access to formal finance and promoting interventions tailored around firm-specific variables, sector characteristics and business environment.en
dc.language.isoenen
dc.publisherThe Climate and Development journalen
dc.relation.ispartofseriesJournal Article;2023
dc.subjectClimate Adaptationen
dc.subjectEnterprisesen
dc.subjectCoping Strategiesen
dc.subjectResilienceen
dc.subjectDeveloping Countriesen
dc.subjectAfricaen
dc.titleFirms’ use of formal and informal finance in coping with droughts and floods: experiences from Kenyaen


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