Effect of determinants of innovation on economic growth in Sub Saharan Africa
DOI:
https://doi.org/10.18533/job.v6i1.175Abstract
The currently observed incorporation of hidden and non-technological innovations, together with the emergence of the modern day fourth industrial revolution is actually contributing to change in our understanding of innovation and its measured contributions to success in entrepreneurship. This study provides a quantitative longitudinal study of the determinants of innovation, their role in entrepreneurship innovation capacity and how they collectively add value to economic growth in sub-Saharan Africa. The study used fixed effects with country dummies in the analysis where Stata software was used. The empirical results indicated that capital for domestic investment, labour, innovation and foreign direct were positively and significantly correlated with economic growth in SSA. It was concluded that the above variables were positively and significantly correlated with economic growth in SSA. It is recommended that respective countries should put in mechanisms to capitalize from the positive benefits of the above on the economy. This could be through increased investments in tertiary institutions and reduction of bureaucracy and corruption that will not only increase high quality production through increased labour productivity, but will also foster fair competition in the markets.
Keywords: entrepreneurship, innovation, economic growth, Sub-Saharan Africa
Downloads
Published
Issue
Section
License
Copyright (c) 2021 Odhiambo Norbert Omuga, Professor Xiongying Niu Peter, Robert Moracha Ogeto
This work is licensed under a Creative Commons Attribution 4.0 International License.
Authors who publish with this journal agree to the following terms:
- Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution License that allows others to share the work with an acknowledgement of the work's authorship and initial publication in this journal.
- Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgement of its initial publication in this journal.
- Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work (See The Effect of Open Access).
