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THE DETERMINANTS OF SMALL AND MEDIUM-SIZED ENTERPRISES PERFORMANCE IN NIGERIA
Abstract
This study aimed at examining the determinants of small and medium-sized enterprises (SMEs) performance in Nigeria. An autoregressive distributed lag approach to cointegration was applied to sample from 1981 to 2010 to achieve the set objective. The results revealed that both in the short-and long-run, interest rate and net export have had a negative impact on SMEs performance. At the same time, other determinants such as government spending, political instability and level of education were found to have insignificant impact during the studied period. Therefore, maintenance of low interest rate will undoubtedly assist to boost the performance of SMEs in Nigeria. As such, monetary authorities need to play a very important role toward achieving the target.
Keywords SMEs, Interest Rate, Net Export, ARDL Approach