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The study employed quarterly data over a 13-year period from 1993 to 2005 to study the evolution of Total Factor Productivity (TFP) and its determinants among 11 banks in Uganda. Using a panel data set consisting of 484 observations (11 banks over 44 quarters), productivity was measured using the Malmquist index while the determinants of productivity were estimated using a two-way error components model. The results show that at the industry level there was a modest decline in TFP. However, at an individual level the experience is mixed. Six foreign-owned banks and one locally owned bank registered modest improvements while two foreign-owned and two locally owned banks registered declines. The declines recorded by the deteriorating banks more than offset the modest increase in TFP among improving banks. In addition, since the study covered a fairly long and non-homogeneous period (1993 to 2005) in terms of productivity change, it is rational to deduce that the major decline recorded in the fi rst half of the period (1993 to 1999) more than offset the modest improvement in productivity that was recorded in the second period (2000 to 2005). Bank-level determinants of productivity were capital adequacy, which had a negative effect while increasing shareholders stake in banks, improvement in liquidity and earning power affected productivity positively. At the macro level, it was not possible to fi nd a positive signifi cant effect of financial liberalization on bank productivity.

Private cross-border financial flows and stocks have grown to account for an increasingly significant part of overall transactions and positions in many African countries. Direct reporting through enterprise surveys has become a key data source to enable them to be measured accurately. The paper describes a multi-year technical assistance project in The Gambia, Ghana, Kenya, Mauritius, Mozambique, and Nigeria, where annual enterprise surveys are now established. To varying degrees, the survey results have been incorporated into the balance of payments and International Investment Position statistics. The case studies may serve as a useful reference for other countries embarking on efforts to establish direct reporting of cross-border financial flows and stocks.