Entrepreneurship, Public Policy and Economic Development in Nigeria

Oshilike Ijeoma Victoria
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Abstract

This study investigates the impact of public policy measures in entrepreneurship and economic development in Nigeria. Time series data covering the period from 1981 – 2021 was used. Data sourced from the World Development Indicators (WDI) provided by the World Bank 2021 and Central Bank of Nigeria Statistical Bulletin 2021 was use. The variables employed are Income per capita (IPC), Institutional (IQ) Quality, Research and Development (RD) and Capacity of SMEs (COS). Results showed that there is a positive relationship IPC and COS. IQ and RD are statistically insignificant, and IQ indicated a negative relationship. It was also observed that there is a positive relationship between the intercept and COS. This implies that the problem in Nigeria is not policy formulation but that of implementation. Thus, creating a gap or missing-link in the structure of public policy formulation and implementation in Nigeria. We recommend among others that all hands must be on deck at every level of government and amongst all social groups to achieve the goals of policy as it affects all. In addition, the government should create enabling environment for the local entrepreneurs to compete globally and create a level playing ground for entrepreneurship at the domestic level to thrive healthily. Additionally, entrepreneurs need to take advantage of the role of technology to improve their overall productivity
尼日利亚的企业家精神、公共政策和经济发展
本研究调查了尼日利亚公共政策措施对企业家精神和经济发展的影响。使用1981 - 2021年的时间序列数据。数据来源于《2021年世界银行世界发展指标》和《2021年尼日利亚中央银行统计公报》。采用的变量是人均收入(IPC)、机构质量(IQ)、研发(RD)和中小企业能力(COS)。结果表明,IPC与COS呈正相关。IQ与RD无统计学意义,IQ呈负相关。还观察到,截距与COS之间存在正相关关系。这意味着尼日利亚的问题不在于政策的制定,而在于政策的执行。因此,在尼日利亚的公共政策制定和执行结构中造成了差距或缺失环节。除其他外,我们建议各级政府和所有社会团体必须全力以赴,以实现影响到所有人的政策目标。此外,政府应该为本地企业家创造有利的环境,使他们能够在全球竞争,并为国内创业创造一个公平的竞争环境,使其健康发展。此外,企业家需要利用技术的作用来提高他们的整体生产力
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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