Using SMEs to Building Resilience and Sustainability of African Economies

Gift Mugano and Nirmala Dorasamy ()
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Gift Mugano: Durban University of Technology
Nirmala Dorasamy: Durban University of Technology

Chapter Chapter 10 in SMEs Perspective in Africa, 2024, pp 211-224 from Springer

Abstract: Abstract This book provided an emphatic argument which shows that SMEs are the bedrock of the global economy. For example, on average, 60% of the global gross domestic product (GDP) is contributed by SMEs (Organisation for Economic Cooperation and Development (OECD), 2017a). Most importantly, SMEs contribute to economic development through a number of channels which inter alia include exports, job creation, reduction in inequality, and poverty eradication which are key elements of inclusive growth (Mugano, 2023; OECD, 2017a). Studies by Beck et al. (2005), after controlling other determinants of economic growth, revealed a robust positive relationship between economic growth and the relative size of the SME sector and economic growth.

Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-69103-4_10

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DOI: 10.1007/978-3-031-69103-4_10

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