Economic assessment of the Igbo entrepreneurship model for entrepreneurial development in Nigeria: evidence from clusters in Anambra state
International Journal of Entrepreneurial Behavior & Research
ISSN: 1355-2554
Article publication date: 27 November 2020
Issue publication date: 12 February 2021
Abstract
Purpose
This study presents an economic investigation of the entrepreneurship practise of the Igbos of South-Eastern Nigeria. It is intended to deepen entrepreneurial development and employment generation in the country. This study also provides empirical support to situate the Igbo entrepreneurship model (IEM) among existing entrepreneurship literature, particularly for research in developing countries.
Design/methodology/approach
The study adopts a quantitative approach to examine 1,187 responses carefully drawn from the Onitsha and Nnewi business clusters in Anambra state. In addition to descriptive demonstrations, the Propensity Score Matching (PSM) technique is employed to estimate the effects of treatment on the treated by pairing treatment and control units with similar attributes on the propensity score and other likely covariates. Specifically, the PSM is used to perform a counterfactual analysis of the effect of the entrepreneurship model on business outcomes by examining participants and non-participants in the IEM.
Findings
The key findings of the study indicate that entrepreneurs who participated in the IEM have higher business survival rate, business growth rate and access to trade and informal credit, while non-IEM entrepreneurs have better access to formal credit source than the IEM graduates.
Research limitations/implications
Generalisation of results can be limited since the study is based on responses of samples drawn from two clusters (Onitsha and Nnewi) in Anambra State, South-East Nigeria. The clusters, though situated in Igbo land, are not the only Igbo business locations in the South-East region and the rest of the country. However, with the larger number of the respondents and synchronisation with existing literature in this subject area guarantee the robustness and applicability of the study findings.
Originality/value
The novelty of this study rests on its pioneering attempt to empirically examine how the IEM can drive entrepreneurial development in Nigeria. The authors also distil lessons for evidenced-based replication of the model to provide a sustainable employment channel for the country. The study posits, among other things, that the IEM can be a veritable approach for enterprise development and youth employment in Nigeria.
Keywords
Acknowledgements
The authors are grateful to Professor Martina Battisti and the anonymous reviewers for their priceless observations and guidance. The authors also salute members of the Policy Analysis and Research Congress (PARC – COOU) for assisting in the survey exercise. The Departments of Economics, Chukwuemeka Odumegwu Ojukwu University, Igbariam, Anambra State and the Nnamdi Azikiwe University, Awka, Anambra State, Nigeria, are appreciated for providing a supportive environment for the execution of the study.
Citation
Ekesiobi, C. and Dimnwobi, S.K. (2021), "Economic assessment of the Igbo entrepreneurship model for entrepreneurial development in Nigeria: evidence from clusters in Anambra state", International Journal of Entrepreneurial Behavior & Research, Vol. 27 No. 2, pp. 416-433. https://doi.org/10.1108/IJEBR-11-2019-0640
Publisher
:Emerald Publishing Limited
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