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Abstract

This thesis consists of three essays in international economics. It addresses three areas that impact economic development in Africa: the role of bank funding, the impact of the tourism sector and the effect of access to energy on the industrial development. The first essay asks the question of how bank financing in Tunisia affects the development of start-ups. A sample of 1,052 companies is studied over the period 2001-2010. The essay concludes that bank financing is not adequate for the new businesses category. Because of the credit rationing practiced by Tunisian banks, the latter apply exorbitant interest rates and risk premium when it comes to new banking relationships which results in negative effects on the performance of startups. The essay also concludes that this negative effect is more significant in the absence of collateral. The second essay examines the role of tourism development in Africa and its role in achieving peace and stability in African countries. Studying 47 African countries over the period 2002-2014, the second essay finds evidence for a positive impact of tourism development on stability in Africa. This impact is found to be much more significant Western and Southern Africa. The third essay examines the effect of access to electricity in Africa on manufacturing development in 53 African countries during the period 2000-2014. Using non-linear panel data models from Papke and Wooldrige (2008), the essay concludes that improved access to electricity urban areas in Africa contributes to industrial development. The essays derive the policy implications of the research and provide suggestions for future research.

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