Cooperative Economics in Africa: Applicability and Suggestions
Susan Akinwalere ( Royal Docks School of Business and Law, University of East London, University Way, London E16 2RD, United Kingdom )
Kirk Chang ( Royal Docks School of Business and Law, University of East London, University Way, London E16 2RD, United Kingdom )
https://doi.org/10.37155/2972-4813-gep0303-4Abstract
The current research investigates the concept of cooperative economics and examines its applicability in Africa, using Nigeria as research sample. Based on triangulation method, we critically review cooperative economics characteristics by consolidating diverse views of cooperative economics, foreign direct investment and David Ellerman’s theory. Research findings advance knowledge by clarifying merits and obstacles in facilitating economic growth. These include: inadequate employee ownership education and training, poor integrative cooperation, lack of decision making, and corruption. We advise African government to offer incentives for cooperative economics, as it will facilitate development of education and electricity, which in turn boosts business performance.
Keywords
Cooperative economics; Economic cooperation; FDI; Growth; NigeriaFull Text
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