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NON‐CORPORATE SECTOR FINANCE AND FINANCING OF SMALL INDUSTRIES IN DEVELOPING COUNTRIES: THE NIGERIAN EXPERIENCE
Author(s) -
Diaku Ikwuakam
Publication year - 1977
Publication title -
annals of public and cooperative economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.526
H-Index - 37
eISSN - 1467-8292
pISSN - 1370-4788
DOI - 10.1111/j.1467-8292.1977.tb02046.x
Subject(s) - dilemma , developing country , finance , scale (ratio) , business , government (linguistics) , indigenous , context (archaeology) , investment (military) , economics , economic growth , politics , political science , paleontology , philosophy , linguistics , ecology , physics , epistemology , quantum mechanics , law , biology
A bstract This paper attempts to report the author's findings regarding the role of the non‐corporate sector in providing investment finance for small‐scale industries in Nigeria, through co‐operative efforts. It specially underlines the role of indigenous social organizations and group relations in solving the economic problems of a developing economy which places emphasis on industrial development. Though these sources provide short‐term consumption finance, they certainly constitute an inadequate source of long‐term finance for industry in a situation where the importance of small‐scale industry development is officially greatly emphasized, and existing financial institutions are designed to serve only the financial needs of large industrial enterprises. The role of government in the context of the dilemma of the small‐scale entrepreneur is examined and suggestions made for improvements. The paper reflects what is probably the experience of many developing countries trying to industrialize.