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Trust and market institutions in Africa : exploring the role of trust-building in African entrepreneurship / Kingsley Obi Omeihe.

9783031062162 electronic book
3031062167 electronic book
3031062159
9783031062155

Cham, Switzerland : Palgrave Macmillan, [2023]

English

1 online resource : illustrations (black and white).

10.1007/978-3-031-06216-2 doi

HB615 .O44 2023

338.04096

This book places special focus on the importance of trust building, particularly in economies where formal legal arrangements are lacking. Taking the case of Africa, the author provides a framework of how indigenous institutions specify and define the rules, thereby allowing entrepreneurship to thrive. In particular, the book delves into the distinct evidence of institutional rivalry within Africa where competing institutions co-exist, leading to the emergence of dominant hybrid institutional forms. By placing enforcements at the heart of the issue, the author makes a convincing case for trust in a range of indigenous institutional arrangements. Based on an investigation of entrepreneurs operating across West Africa, the book explores how indigenous arrangements are sufficient in enforcing credible commitments to agreements. In the process, the author argues that trust is essential in stimulating entrepreneurial incentives in Africa. The book brings the real-world situation of local actors in live situations that almost every African entrepreneur can identify with. In a bold new step, the book attempts to show how African entrepreneurs have been able to respond to the specific socio-economic challenges of their environment and raises questions about the role of alternative indigenous institutions. For those interested in African studies, the books chapters and readings capture fresh insights and renewed enthusiasm for African entrepreneurship. Kingsley Omeihe is Head of Business Management at the University of Aberdeen. He is the President of the Academy for African Studies and Chair of African Studies at the British Academy of Management (BAM). He also serves as Chair of the Entrepreneurship in Minority Groups at the Institute for Small Business and Entrepreneurship (ISBE) and Head of macroeconomics at the Marcel House. His research interest in economic sociology examines the role of networks and norms in the emergence of economic institutions. This includes examining the reflexive basis of reputation in multiplex networks, identifying the sources of trust in low-trust societies and their sources of cooperation.

Includes bibliographical references and index.

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Description based on online resource; title from digital title page (viewed on May 04, 2023).

Palgrave studies of entrepreneurship in Africa.

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