Modelling Entrepreneurial education within the framework of productivity theory. A way out of economic doldrums in Sub-Saharan Africa

Modelling Entrepreneurial education within the framework of productivity theory. A way out of economic doldrums in Sub-Saharan Africa

Author by Dr. Tunji Siyanbola

Journal/Publisher: International Journal Of Advanced Research In Statistics, Management And Finance

Volume/Edition: 4

Language: English

Pages: 151 - 170

Abstract

It was observed that no government of a nation can provide full employment
to its citizens, which has brought the challenges of underemployment and
productivity in the economy. This study was conducted to model
entrepreneurial education within the framework of production theory by
investigating the relationship between entrepreneurship and innovation and
gross domestic products of 16 selected Sub-Sahara African states between
2010 and 2014 using endogenous growth model. In the model, we set the
gross domestic product as a function of labour, physical capital and
entrepreneurship and innovation on modified Cobb-Douglas production
function using 'Stata version 11' software. The estimated elasticity of
productivity include 0.9147434, 0.2588915and 0.7980022 as compared to
entrepreneurship and innovation; labour and physical capital respectively.
They all have high statistical significances. The result, amongst others,
indicate positive effect of entrepreneurship and innovation on productivity,
which means that increase in entrepreneurship and innovation coefficient
will increase gross domestic products. It was therefore recommended that
other Sub-Sahara African countries should borrow a leaf from South Africa
and impart entrepreneurial education on all pupils of school age from
primary to tertiary institutions not only the tertiary institutions so as grow
productivity in geometrical proportion, as a way out of economic doldrums.


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