Entrepreneurship and economic growth in Nigeria: Evidence from SMES financing in Nigeria  

Oleh:

Uchenna, Eze Benneth

Jenis: Article from Proceeding
Dalam koleksi: Proceeding IConEnt 2016 (International Conference on Entrepreneurship) : How Innovation could Improve the Performance and Productivity in Entrepreneurship?, page 1-11.
Topik: Small & Medium Scale Enterprises; Financing Options; Asymmetric Ordinary Least Square and Economic Growth.
Fulltext: Eze Benneth Uchenna.pdf (435.78KB)

Isi artikel

Structured small and medium scale enterprises (SMEs) can contribute significantly to employment generation, wealth creation, poverty alleviation and sustainable economic growth and development. SMEs lack of access to effective source of finance has been identified as one of the major quagmire hindering their contributions to economic growth. On this premise, this paper assesses specific financing options available to SMEs in Nigeria and contribution to economic growth. The paper uses secondary sources of data which were generated from the publications of Central Bank of Nigeria (CBN) statistical Bulletin and World Development Indicators (WDI). Asymmetric Ordinary Least Square (AOLS) estimation technique is employed to determine the effect of SMEs financing on economic growth in Nigeria. The analysis of the results suggested that there is an insignificant direct and indirect relationship between both positive and negative component of SMEs financing and Economic growth in Nigeria, this can be adduced to policy inconsistencies in SMEs financing. The paper recommended that strenuous effort should be made by the government by easing access to SMEs finance via subsidized interest rate in order to enhance economic growth and development.

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