A socio-economic analysis of the adoption of the sharing economy

Frederick Pobee, Ernest Mensah Abraham and Abdul Bashiru Jibril

Cogent Economics & Finance, 2024, vol. 12, issue 1, 2426531

Abstract: The rapid growth of ride-hailing platforms has transformed urban transportation worldwide, with significant implications for developing countries. This study departs from most research on the sharing economy, which primarily focuses on technological factors that influence the sharing economy. Instead, it investigates socio-economic factors that influence the adoption of the sharing economy, particularly the ride-hailing platforms in a developing country. A purposive sampling technique was employed to gather data from 777 respondents through an online survey in Ghana. The Smart PLS Structural Equation Modelling software was used to analyze the data. The data analysis revealed that the availability of regulatory framework, cultural norms, income level, and digital infrastructure positively and significantly influence behavioural intention to use ride-hailing platforms. The data further shows that behavioural intention significantly influences the actual use of ride-hailing platforms. This research contributes to the evolving discourse on the impact of technological innovations on transportation systems in developing nations. Policymakers can leverage these findings to create effective regulations, promote digital infrastructure development, and support equitable access to ride-hailing services. Ultimately, the research underscores the significance of ride-hailing platforms as a valuable tool for sustainable urban mobility in developing countries.This study highlights the crucial role of socio-economic factors—such as regulatory frameworks, cultural norms, income levels, and digital infrastructure, in shaping the adoption of ride-hailing platforms in Ghana. Unlike previous studies that center on technological drivers, this research provides an understanding of socio-economic factors’ impact on consumers’ adoption of ride-hailing platforms. The findings reveal that these socio-economic factors significantly impact users’ willingness to adopt ride-hailing services, ultimately affecting actual usage. The insights gained can guide policymakers in crafting regulations, fostering digital infrastructure, and ensuring equitable access. This work emphasizes the potential of ride-hailing platforms to enhance sustainable urban mobility in developing nations, paving the way for more inclusive transportation solutions.

Date: 2024
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DOI: 10.1080/23322039.2024.2426531

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