Entrepreneurship and its Implications for Standards of Living in Cameroon

Abstract

The study intended in determining the effect of entrepreneurship on standards of living in Cameroon. The
study made use of secondary data over a period of 42 years and the data was obtained from the World Bank
database. The researcher applied the causal research design and used both descriptive and inferential
statistics to analyse the data collected. Results from the ARDLregression revealed that there exist a positive
significant effect of entrepreneurship at the primary sector on standards of living in Cameroon in the short
run and an insignificant effect of entrepreneurship on standards of living in the long run. Entrepreneurship at
the secondary sector was found to exert a negative insignificant effect on standards of living Cameroon in
the short and a positive insignificant effect in the long run in Cameroon. The coefficient for entrepreneurship
in the tertiary sector was positive and significant in both the short and long term, with a significance level of
5% in the short term and insignificance in the long term. Secondary education was determined to have a
negligible beneficial impact on long-term standards of living in Cameroon, and a negligible detrimental
impact in the near term. Further findings indicate that higher education has a negligible detrimental impact
on long-term standards of living in Cameroon, whereas it has a negligible beneficial impact. The inflation
rate, as assessed by the consumer price index, had a positive coefficient in the long term and was statistically
significant at a 5% level of significance. Additionally, in the short term, it had a significant impact on the
standards of living in Cameroon at a 1% level of significance.