EFFECT OF MACRO ECONOMIC FACTORS ON ENTREPRENEURSHIP ACTIVITIES IN NIGERIA
Macroeconomic Factors, Entrepreneurship Activities, GMM JEL Classification: E24, E31, E40, L00, L10
The effect of macroeconomic factors on entrepreneurship activities in Nigeria using quarterly data from 2006 to 2020. The data were obtained from World Development Indicator (WDI, 2021), National Bureau of Statistics (NBS) fact sheet and Global Data Lab and the data include entrepreneurship, interest rate, access to broadband infrastructure, human capital, gross domestic product per capita, trade openness, consumer price index, research and development expenditure and unemployment rate. System generalized method of moments (GMM) was the appropriate methodology for the study because of its ability to overcome the problem of endogeneity. The study results revealed that entrepreneurship lag one (previous), interest rate, access to broadband infrastructure, human capital, GDP per capita, inflation and research and development are statistically significant in determining entrepreneurship in Nigeria but entrepreneurship lag one, access to broadband infrastructure, human capital and inflation exert a positive significant effect on entrepreneurship while interest rate, GDP per capita and research and development exert a negative significant effect on entrepreneurship. Therefore, the study recommended that more investment in both internet and human capital are very essential for the growth of entrepreneurship activities in Nigeria. Since entrepreneurship business are yardstick for economic growth, more government expenditure should go into research and development.
Keywords: Macroeconomic Factors, Entrepreneurship Activities, GMM
JEL Classification: E24, E31, E40, L00, L10
"EFFECT OF MACRO ECONOMIC FACTORS ON ENTREPRENEURSHIP ACTIVITIES IN NIGERIA", IJNRD - INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT (www.IJNRD.org), ISSN:2456-4184, Vol.8, Issue 3, page no.a848-a861, March-2023, Available :https://ijnrd.org/papers/IJNRD2303092.pdf
Volume 8
Issue 3,
March-2023
Pages : a848-a861
Paper Reg. ID: IJNRD_188378
Published Paper Id: IJNRD2303092
Downloads: 000118844
Research Area: Management
Country: FCT, ABUJA, FCT, Nigeria
ISSN: 2456-4184 | IMPACT FACTOR: 8.76 Calculated By Google Scholar | ESTD YEAR: 2016
An International Scholarly Open Access Journal, Peer-Reviewed, Refereed Journal Impact Factor 8.76 Calculate by Google Scholar and Semantic Scholar | AI-Powered Research Tool, Multidisciplinary, Monthly, Multilanguage Journal Indexing in All Major Database & Metadata, Citation Generator
Publisher: IJNRD (IJ Publication) Janvi Wave
