A Dynamic Analysis of the Nexus between Entrepreneurship, Human Capital Development and Financial Deepening: Evidence from Selected African Economies

Eke, O. P. and Okoye, Lawrence U. and Evbuomwan, Grace O. (2018) A Dynamic Analysis of the Nexus between Entrepreneurship, Human Capital Development and Financial Deepening: Evidence from Selected African Economies. Journal of Applied Economic Sciences, XIII (5). ISSN L 1843 - 6110 ISSN 2393 - 5162

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Abstract

This paper examines whether human capital development is significant in the nexus between entrepreneurship and financial deepening, while also accounting for institutional quality as control variable in thirteen selected African economies from 1995-2014. Evidence from the augmented Toda-Yamamoto technique shows that human capital does not have long run causal effect on entrepreneurship and financial deepening, which suggests low quality human capital for entrepreneurial development. The paper recommends market-based funding for human capital development to enhance quality, creativity, entrepreneurship, and hence financial deepening. Global best-practice institutional governance system would reduce ‘cost to start business’ and thereby encourage growth of entrepreneurship.

Item Type:	Article
Uncontrolled Keywords:	African economies, Entrepreneurship, Financial deepening, Human capital
Subjects:	D History General and Old World > DT Africa H Social Sciences > HF Commerce H Social Sciences > HG Finance
Divisions:	Faculty of Law, Arts and Social Sciences > School of Management
Depositing User:	Mrs Patricia Nwokealisi
Date Deposited:	18 Sep 2018 12:04
Last Modified:	17 Dec 2018 10:25
URI:	http://eprints.covenantuniversity.edu.ng/id/eprint/11781

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