n Journal of Emerging Trends in Economics and Management Sciences - Reform policies, manufacturing entrepreneurial activity and economic growth : empirical and qualitative observations on Nigeria

Volume 2, Issue 5
  • ISSN : 2141-7024
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Entrepreneurship is essential for the sustenance of economic vitality in todayâ??s market economy; and when a greater number of new businesses especially manufacturing enter the market, competition and economic growth are enhanced. We attempted to find a relationship between entrepreneurial activity and economic development on the one hand, and macro-economic reforms and entrepreneurial activity on the other hand, using data specific to Nigeria. Ordinary Least Square (OLS) and correlation analysis were used. Our results show that increase in manufacturing firm entry would impact positively on GDP and that some past policies have given rise to increased entrepreneurial participation in Nigeria. We conclude that greater entrepreneurial activity generally means greater economic growth and that policy reforms targeted at economic revival should not choke entrepreneurship and capacity utilization.

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