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Poverty, entrepreneurship, and economic growth in Africa

Author

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  • Folorunsho M. Ajide
  • James T. Dada
Abstract
Literature abounds on the impact of entrepreneurship on economic growth, but with little attention to the role of entrepreneurship in poverty reduction. Furthermore, little attention has been paid to the triangular relationship among poverty reduction, entrepreneurship, and growth in Africa. In this study, we examine the dynamic relationship among these three variables using data collected from 18 African countries. Data are sourced from World Bank development indicators and the World Bank's entrepreneurship database. The study uses batteries of panel data estimation techniques to analyze the data. The following findings emerged: (1) there is bidirectional causality between poverty reduction and growth. (2) There is bidirectional causality between growth and entrepreneurship in Africa. (3) There is unidirectional causality moving from entrepreneurship to poverty reduction. (4) Entrepreneurship significantly reduces poverty in Africa. (5) Impulse response shows that all the variables positively respond to shocks in each other. The study concludes that entrepreneurship enhances poverty reduction in Africa and has a significant impact on economic growth. 大量文献聚焦于创业对经济增长的影响,但几乎未研究创业在减贫中的作用。此外,几乎没有研究聚焦于非洲地区的减贫、创业与(经济)增长之间的三角关系。本研究中,我们使用从18个非洲国家收集的数据来检验这三个变量之间的动态关系。数据源于世界银行发展指标和世界银行创业数据库。该研究使用一系列面板数据估计技术来分析数据。得出了以下结论:(1)减贫与增长之间存在双向因果关系。(2)非洲的增长与创业之间存在双向因果关系。(3)创业与减贫之间存在单向因果关系(即从创业导向减贫)。(4)创业显著减少了非洲贫困。(5)脉冲响应表明,所有变量都积极响应彼此的冲击。本研究的结论认为,创业促进了非洲减贫,并对经济增长产生了重大影响。 Abunda la literatura sobre el impacto del espíritu empresarial en el crecimiento económico, pero se presta poca atención al papel del espíritu empresarial en la reducción de la pobreza. Además, se ha prestado poca atención a la relación triangular entre la reducción de la pobreza, el espíritu empresarial y el crecimiento en África. En este estudio, examinamos la relación dinámica entre estas tres variables utilizando datos recopilados de 18 países africanos. Los datos provienen de los indicadores de desarrollo del Banco Mundial y de la base de datos de emprendimiento del Banco Mundial. El estudio utiliza baterías de técnicas de estimación de datos de panel para analizar los datos. Surgieron los siguientes hallazgos: (1) existe causalidad bidireccional entre la reducción de la pobreza y el crecimiento. (2) Existe una causalidad bidireccional entre el crecimiento y el espíritu empresarial en África. (3) Hay causalidad unidireccional al pasar del emprendimiento a la reducción de la pobreza. (4) El espíritu empresarial reduce significativamente la pobreza en África. (5) La respuesta al impulso muestra que todas las variables responden positivamente a las perturbaciones entre sí. El estudio concluye que el espíritu empresarial mejora la reducción de la pobreza en África y tiene un impacto significativo en el crecimiento económico.

Suggested Citation

  • Folorunsho M. Ajide & James T. Dada, 2023. "Poverty, entrepreneurship, and economic growth in Africa," Poverty & Public Policy, John Wiley & Sons, vol. 15(2), pages 199-226, June.
  • Handle: RePEc:wly:povpop:v:15:y:2023:i:2:p:199-226
    DOI: 10.1002/pop4.368
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