THE ROLE OF SMALL AND MEDIUM SCALE ENTERPRISES AND THEIR CONTRIBUTIONS TO THE ECONOMIC GROWTH OF NIGERIA (1980 – 2010)


THE ROLE OF SMALL AND MEDIUM SCALE ENTERPRISES AND THEIR CONTRIBUTIONS TO THE ECONOMIC GROWTH OF NIGERIA (1980 – 2010)

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ABSTRACT

The role of small and medium-scale Enterprises (SMEs) in the national economy cannot be underestimated. The vast majority of developed and developing countries rely on dynamism, resourcefulness and risk tasking of small and medium enterprises to trigger and sustain process of economic growth. This study investigates the role of SMEs and their contributions to the economic growth of Nigeria. Specifically, it seeks to determine the nature and direction of causality between SMEs and the economic growth as well as the relationship between these macroeconomic variables. The study employs the Granger causality and error correction mechanism (ECM) technique to evaluate the empirical evidence of the relationship between SMEs and economic growth in Nigeria by using an econometric technique through multiple regression models that was derived from the Solow growth model. After testing for granger causality, the result reveals that there is a bidirectional relationship between SMEs and economic growth in Nigeria. Also, the analysis showed that SMES in our Nigerian economy had direct effect on economic growth; therefore, there is need for appropriate policies with respect to increase and sustenance of SMEs knowing that it affects the level of growth. To achieve sustainable economic growth, SMEs should be encouraged in the economy.

TABLE OF CONTENTS
Title Pages
Title Page – – – – – – – – i
Dedication – – – – – – – – ii
Declaration – – – – – – – – iii
Certification – – – – – – – – iv
Acknowledgement – – – – – – – v
Abstract – – – – – – — – vii
Table of content – – – – – – – viii
List of Table – – – – – – – – xi
CHAPTER ONE: INTRODUCTION
1.1 Background to the Study – – – – – –
1.2 Statement of the Problem – – – – –
1.3 Research Questions – – – – – –
1.4 Objectives of the Study – – – – – –
1.5 Hypotheses of the Study – – – – –
1.6 Significance of the Study – – – – –
1.7 Scope and Limitation of the Study – – –
1.8 Organization of the Study – – – – –

CHAPTER TWO: LITERATURE REVIEW AND THEORETICAL FRAMEWORK
2.1 Literature Review – – – – – –
2.1.2 Conceptual Literature – – – – –
2.1.2.2 Characteristics of Smes in Nigeria – – –
2.2 Role of the Sme Sub Sector in Economic Development
2.2.1 Significance of the Sme Sub-Sector in the Nigerian Economy – — –
2.2.2 Challenges of Smes in Nigeria – – – –
2.3 An Overview of Small and Medium Enterprises (Smes) In Nigeria – – –
2.4 Theoretical Framework – – – – –
2.4.1 Stochastic (Random) Models – – – –
2.4.2 Deterministic (Static) Approach – – – –
2.4.3 Stages Models – – – – – –
2.4.4 Criticism of Churchill and Lewis – – – –
2.4.5 Stages Models Reaching a Plateau – – –
2.5 Literature Review – – – – – –

CHAPTER THREE: RESEARCH METHODOLOGY
3.1 Methodology – – – – – –
3.2 Data – – – – – – –
3.3 Model Specification – – – – –
CHAPTER FOUR: EMPIRICAL RESULTS/ DISCUSSION OF FINDINGS
4.1 Presentation of Empirical Results – – –
4.1.1 Unit Root Tests Results – – – –
4.2 Granger Causality Test Result – – –
4.3 Ecm Result Of Macroeconomic Variables Influencing The Output – – –
4.4 Policy Implication of Findings – – – –
CHAPTER FIVE: SUMMARY POLICY RECOMMENDATION AND CONCLUSION
5.1 Summary of the Study – – – – –
5.2 Conclusion – – – – – –
5.3 Recommendation of the study – – – –
References – – – – – –
Appendix — – – – – –

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