Determinants of Venture Capital in Africa: Cross Section Evidence
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Date
2011-08
Authors
Adongo, Jonathan
Journal Title
Journal ISSN
Volume Title
Publisher
AERC
Abstract
This paper identifies the determinants of venture capital activity using a cross-sectional
data set covering 36 African countries in a semi-logarithmic model. It finds that rule of
law, R&D expenditure as a percentage of GDP and better information between investors
and potential investees are positively and significantly related to venture capital activity
in Africa. It also finds that capital gains tax rates are negatively and significantly related
to venture capital activity on the continent.
Description
HG 5822 . A65 2011
Keywords
Venture Capital- Africa , enterprise policy , africa