Impact of Entrepreneurship and International Trade on Economic Growth and Development in Nigeria (Published)
This study empirically investigates the impact of entrepreneurship and international trade on economic growth and development in Nigeria from 1990 to 2022. Domestic credit to private sector (DCPS), Exchange rate (EXR), Self-employment (SEEM), Total exports ((TEX), Total imports (TIM) and inflation rate (INFR)were used as dimensions of the independent variable while Real gross domestic product (RGDP) as the dependent variable. Annual time series data were obtained from secondary sources including the CBN annual statistical bulletin, World Bank development indicators. The Eview9 Statistical Software was employed to analyze the data empirically. The Unit root test shows that real gross domestic product, domestic credit to private sector, exchange rate, self-employment, total exports and total imports are all stationary after first difference I(1) while inflation rate was stationary at level I(0). The data were analyzed using the Autoregressive distributed lag (ARDL). The results of the ARDL estimates indicate that in the long run self-employment and total exports coefficients were positively signed and statistically significant which means that increase in self-employment and total exports in Nigeria will increase real gross domestic product (Economic growth) while total imports turned up with a negative sign and also statistically significant. It portends that total import has a negative impact on economic growth and development in Nigeria in the long run. The study recommends amongst others that government should promote entrepreneurship by providing credit and grants to encourage self-employment. Government should also encourage import substitution, promote exportation of locally made goods as this has positive impact on economic growth and development in Nigeria.
Citation: Adeyemo O. O. (2023) Impact of Entrepreneurship and International Trade on Economic Growth and Development in Nigeria, Global Journal of Arts, Humanities and Social Sciences, Vol.11, No.4, pp.52-68
Citation: Suhair Al-Alami and Premila Koppalakrishnan (2022) University Entrepreneurship Education: Points to Ponder, Global Journal of Arts, Humanities and Social Sciences,Vol.10, No.2, pp.1-13
Abstract: With globalization, knowledge revolution and technological advancement in mind, the current era requires providing today’s generation with sufficient education of innovation, creativity, and entrepreneurship readiness amongst other skills. Inspired by this requirement, this paper aims to explore whether it would be appropriate to teach both innovation and entrepreneurship as a general university course requirement to be offered to all undergraduate students apart from their university major. Additionally, this paper aims to highlight several specifications which can be considered whilst designing a general university course with the aim of augmenting and enhancing entrepreneurship education. To achieve these aims, the authors distributed a questionnaire of twelve items to ninety-three undergraduates belonging to different colleges. The results indicated that most of the respondents believed in the importance of teaching entrepreneurship to all students as a general university course requirement, and the vast majority stressed the importance of including innovation as an integral part of a general university entrepreneurship course.