Public policy and entrepreneurship performance : the divide and nexus in West Africa
Date
2019-12
Authors
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Publisher
Stellenbosch : Stellenbosch University
Abstract
ENGLISH SUMMARY : This study examined the effect of selected public policies on entrepreneurship activities in the anglophone and francophone divides of West Africa in order to determine the nexus of performance, using several analytic techniques. Based on previous studies, a region specific framework for measuring entrepreneurship at national levels was developed otherwise known as TEA. The data used were obtained from both secondary and primary sources originating from institutional organisations and ethnographic research in ten selected countries from 2000 to 2018. Among other findings between the phenomena investigated, the study established the link between macroeconomic policy instruments and their implications on entrepreneurship in the business environments of West African countries. From the analysis of TEA, the anglophone divide was found to be more entrepreneurship enhancing than the francophone divide, however, the economies in the region were all factor driven. The enacted entrepreneurship policies in countries show that the governments in both divides have made entrepreneurship a policy focus. Nevertheless, many of the efforts made have been largely supported by the government in the anglophone divide, while the francophone divide has been more open to private sector participation in its drive to promote entrepreneurship. However, it was also found that most of the entrepreneurship initiatives in the countries focused more on the agricultural sector and development of SMEs. The empirical evidence reveals that, while monetary policy was more significant in promoting TEA in the anglophone divide, fiscal policy did better in the francophone divide. Government expenditure on infrastructure had a positive and most significant relationship with TEA in the short and long run results across the region. Therefore, public policy should focus on infrastructural development, financial support and maintain an effective regulatory framework for entrepreneurship activities. The study recommends that governments should harness, formulate and execute the best of monetary and fiscal policies in West African countries. The contribution of the private sector partnership in the drive to promote entrepreneurship should also be encouraged so that the economies in the countries can aim towards innovative and efficient competitiveness in democratic societies.
AFRIKAANSE OPSOMMING : Geen opsomming beskikbaar.
AFRIKAANSE OPSOMMING : Geen opsomming beskikbaar.
Description
Thesis (PhD)--Stellenbosch University, 2019.
Keywords
Entrepreneurship -- Government policy -- Africa, West, Monetary policy -- Africa, West, Fiscal policy -- Africa, West, UCTD