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Ekwekere, E, 2023. Dynamics of entrepreneurship growth in Africa: analysis of macro-level perspectives of financial development, small business performance, and institutional climate. PhD, Nottingham Trent University.
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Abstract
Entrepreneurship in recent years has become very important to economic growth, especially for developing countries, mainly due to the broadness of entrepreneurship. This has led to increased enquiries on the relationship between entrepreneurship and economic growth. Moreover, the underperformance of the economies of most developing countries, including those of Africa, has increased the need for an alternative form of industrial development for economic performance. Only now does entrepreneurship literature focus mainly on developed countries, and very little is known about what drives entrepreneurship in developing countries (Autio, 2008; Bruton et al., 2008).
This study examines the relationship between financial development, entrepreneurship, and the role of institutions in 22 Sub-Saharan African countries that are signatories to the African Continental Free Trade Area (AfCFTA). The main objective is understanding how entrepreneurship development contributes to socioeconomic activities, job creation, poverty eradication, and improved living standards. Data was collected from the World Bank Governance Indicator, World Bank Entrepreneurship dataset, World Bank Global Financial Development data, Systemic Peace, Heritage Foundation, and World Bank Enterprise Survey. The study utilises various theoretical and empirical concepts and econometric analysis to obtain more robust knowledge of this relationship. The study results find evidence that financial development positively impacts entrepreneurship of self-employment and newly registered businesses.
The study results demonstrate that enhancing financial development is significant and positively impacts firm performance. This also has policy implications for policymakers. Lastly, the study finds evidence of the grease-the-wheel hypothesis in the studied countries. The study results also demonstrated that a reduced form of corruption speeds up entrepreneurial activities but becomes an obstacle to entrepreneurship when it becomes endemic.
The study proposes recommendations for improved policies around re-orientating business policies to drive specific developmental goals. Policymakers should pursue prioritised policies where the survival of small businesses would be most important. Policies that monitor and promote financial sector activities of accessing information credits will help vitalise entrepreneurship.
| Item Type: | Thesis |
|---|---|
| Creators: | Ekwekere, E. |
| Contributors: | Name Role NTU ID ORCID |
| Date: | December 2023 |
| Rights: | The author holds the copyright to this work. You may copy up to 5% of this work for private study or personal, non-commercial research. Any re-use of the information contained within this document should be fully referenced, quoting the author, title, university, degree level and pagination. Queries or requests for any other use, or if a more substantial copy is required, should be directed to the author. |
| Divisions: | Schools > Nottingham Business School |
| Record created by: | Laura Ward |
| Date Added: | 03 Sep 2024 08:08 |
| Last Modified: | 03 Sep 2024 08:08 |
| URI: | https://irep.ntu.ac.uk/id/eprint/52158 |
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