WITHDRAWN: Entrepreneurship and Nigerian Economic Development Nexus in the Digitized Era

Abstract

Purpose This study examines the long-term association between entrepreneurship and Nigerian economic development in the digitized era from 1991-2020. Research results on the association between entrepreneurship and economic development are still debatable and conflicting. Some unveil positive effects, and some show negative effects and others indicate non-significant effects. Hence, research is essential to fill the gap. Design/Methodology/ApproachThe fully modified, dynamic and conical co-integration ordinary least squares regression are used. Gross domestic product growth rate measures economic development. Self-employment and new business density measure entrepreneurship. Findings The results show a long-term association between entrepreneurship and economic development. The regression results unveil a positive association between self-employment and gross domestic product growth rate. Research limitations/ImplicationsThe government should refurbish existing entrepreneurial policies with digital innovations to enhance entrepreneurship and economic development which promote self-employment. The government should integrate entrepreneurship education into the education system at the secondary level where young minds would be moulded towards self-employment. The government and entrepreneurs should improve on the mapping out of strategic business locations in urban and rural zones where youths could under take self-employment activities. Originality/Value The results affirm a positive link between self-employment and gross domestic product.