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An Empirical Study of the Role of Entrepreneurship in Zambia’s Economic Growth (1990-2023)

Author

Listed:
  • Austin Mwange

    (The University of Zambia, Graduate School of Business, Lusaka, Zambia)

  • Windu Matoka

    (ZCAS University, School of Business, Lusaka, Zambia)

Abstract

Entrepreneurship has been recently considered a vital ingredient for stimulating economic growth in most emerging economies. The empirical study investigated the role of entrepreneurship in Zambia’s economic growth. The study utilized secondary annual data for the period from 1990 to 2023. Data was analysed using ARDL regression, granger causality and co-integration test. The results revealed a significant positive long-run relationship between economic growth and entrepreneurship. The study further revealed a uni-directional causality running from entrepreneurship to economic growth. The study concluded that entrepreneurship represents a catalyst for boosting economic growth of Zambia. The research therefore recommended for policymakers including the government of the Republic of Zambia to emphasize on policies which promote innovative entrepreneurial activities in Zambia in order to achieve sustainable economic growth. The study made significant contributions to theory and policy.

Suggested Citation

  • Austin Mwange & Windu Matoka, 2024. "An Empirical Study of the Role of Entrepreneurship in Zambia’s Economic Growth (1990-2023)," East African Finance Journal, East African Finance Journal, vol. 3(2).
    • Handle: RePEc:cwk:eafjke:2024-16
    DOI: 10.59413/eafj/v3.i2.10
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    References listed on IDEAS

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    5. Ashok K. Gaba & Nitika Gaba, 2022. "Entrepreneurial Activity and Economic Growth of BRICS Countries: Retrospect and Prospects," Journal of Entrepreneurship and Innovation in Emerging Economies, Entrepreneurship Development Institute of India, vol. 31(2), pages 402-424, July.
    6. Henrekson, Magnus & Johansson, Dan & Karlsson, Johan, 2021. "To Be or Not to Be: The Entrepreneur in Endogenous Growth Theory," Working Papers 2021:3, Örebro University, School of Business.
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    Cited by:

    1. Yvonne Mumba & Austin Mwange, 2025. "Assessing the Role of Financial Inclusion in Enhancing Micro, Small, and Medium Enterprise (MSMEs) Resilience Post-COVID-19 in Zambia: A Case of Olympia Market," East African Finance Journal, East African Finance Journal, vol. 4(1).

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