Authors
Thanti Mthanti, Kalu Ojah
Publication date
2022/6/1
Journal
Review of Development Finance
Volume
12
Issue
1
Pages
31-54
Publisher
AfricaGrowth Institute
Description
Deploying Quintile regression and causality analysis, we exploit the within Africa heterogeneity in growth outcomes, over 3 decades, to examine the association between macro-level entrepreneurial orientation (EO) and economic growth across the conditional distribution to explain how African countries have grown or failed to grow. In addition to understanding how much macro-level EO provides additional growth in Africa, relative to natural resource rents and/or institutions, we also examined how Africa could perform as well as fast-growth countries when EO is properly exploited. We find that growth acceleration indeed stems from exploiting macro-level EO in high-growth countries, whereas Africa's occasional growth spurts have been largely driven by natural resource rents, with evidence that effectively cultivating macro-level EO can help Africa achieve sustainable kind of growth, such as has been experienced …
Total citations
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