Contemporary Issues in. Economic Development, Africa

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1 Contemporary Issues in Economic Development, Africa Prof. V.A. Adeyeye Director, Economics Policy Unit Nigeria Institute of Social & Economic Research (NISER) Ibadan, Oyo State, Nigeria and Dr. Olayiwola Olubodun Olaniyi Nigeria Institute of Social & Economic Research (NISER) Ibadan, Oyo State, Nigeria NEW INDIA PUBLISHING AGENCY New Delhi

2 Contents Dedication Preface v vii 1. Small Scale Enterprises Definition ofsmall-scale Enterprises Problems of Small-scale Business Classification ofsmes Ways of owning a small-scale business Forms ofsme ownership Selecting the mode of owning a SME and form of ownership Operation, ownership and management Factors determining small and medium scale entrepreneurship choice Policy formulation in SMEs The SME Option: Its Problems Past policies of government on SMEs Medium and Small Scale Enterprises to Socio-Economic Development Place ofsme in Remeding The Nigerian Economic Paradox The Contributions of Small and Medium Scale Enterprises to Socio-Economic Development Basic Record Keeping and Accounting for Small Business Challenges of Entrepreneurship in a Growing Economy Promotional Entrepreneurship Programmes in Nigeria Approaches for Promotion Entrepreneurship Programmes in Nigeria Appraisal of Past Policies of Government at Promoting Entrepreneurship Strengths and Weaknesses of Small and Medium Enterprises 33

3 x Contemporary Issues in Economic Development, Africa 4. Issues in Employment in Nigeria Issues in Employment What is employment? Unemployment in Nigeria Vulnerable Groups in Africa Entrepreneurial Education and its Consequence in Nigerian Economy Who is an Entrepreneur? Objectives of Entrepreneurial Education Entrepreneurship in Higher Education is Critical to Development Worldview Issues of Small and Medium Enterprises Worldview on the Issue of Small and Medium Enterprises Models of the Employment Relationship Globalization and employment relations Employment fraud/modem slavery Issues in Growth and Development in Nigeria: Economic and Non-Economic Issues in Growth and Development in Nigeria Corruption and Governance Challenge in Nigeria Addressing Poverty and Inequality Building Human Resources Making Agricultural Development apriority in Nigeria Causes and Consequences of Poverty Rural Poverty in Nigeria Causes and Consequences of Poverty Today Measuring poverty Why Poverty Persist in Nigeria Obstacles of Nigeria in Economic Growth Major Obstacle to Nigeria Economic Growth Transport costs and rates Costs and time components Monetary Policy Impacts on Growth, Inflation and Exchange Rates Issues and Challenges for Growth in Nigeria Challenges for Nigeria Barriers of SMEs Trading Foreign Trade Barriers in Nigeria 87

4 Contents xi 10. Challenges and Opportunities in Small and Medium Enterprises Challenges and Opportunities in SMEs Challenges withcurrent Financial Structures Central Bank Support for Development Banking and Small-Scale Financial Institutions Trade Policy and the Poverty Reduction in Nigeria Approaches for Promotion Programmes in Entrepreneurship Support for Start-Up Finance Activities by Entrepreneur in Small Scale Bussiness Small and Medium Entrepreneurship in Africa- A Critical Review Practice of SMEs in Africa- Critical Review Internal and External Factors Affecting Small and Medium Enterprises Internal and External Factors Affecting Small and Medium Enterprises Agriculturc Growth Factors Construction Growth Factors Comparison with Social Entrepreneurs to Corporate Entrepreneurs Characteristics of Social Entrepreneurs Compared to Corporate Entrepreneurs Distinguishing Processes of Social Entrepreneurship as Compared with Corporate Entrepreneurship Key Outcomes of Social Entrepreneurial Ventures Compared with Corporate Entrepreneurial Ventures (CEVs) Relevance of IB Models For (Private Sector) Development General Barriers General Barriers and IB Strategies to Overcome Organisation-Specific Strengths and Weaknesses Medium and Small Enterprises - An Overview Overview of Medium and Small Enterprises (MSE) Growth Productivity and Growth The Business Environment Inter-Firm Cooperation 142

5 xii Contemporary Issues in Economic Development, Africa 17. Unemployment Issues and Steps Taken by the Government The Nigerian Unemployment Milieu: Control Measures taken by the Government Defming poverty Approaches to defming poverty Absolute and Relative Poverty The Reconciliation of Absolute and Relative Fast Policies of Government - A Survey Basic for Government Intervention in the Economy Issues and Challenges in African Youths Remediesto Combat Unemployment in Nigeria Economic Growth and Economic Development Features ofdeveloping Economy Development Flanning and Nigeria's Economic Reform Programmes Youth Issues on Sexual Exploitation Child Protection Child Pornography and Child Prostitution Issues on African Youths 172 References 177

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