The rapid globalization of ideas, technology and capital has led to ever growing inequality and focus on growth and development for impoverished countries. This includes several parts of West Africa that has failed to utilize their resources and opportunities to promote socioeconomic development. West African development plans are demonized for perpetuating dependency cycles of neo-colonialism and allowing for corruption and irresponsible investments. This paper will emphasize the opportunity of further including returning cultural entrepreneurs into West African developmental plans. According to the OECD, return migration is very common with cultural entrepreneurs abroad, bound to return to their home country. Examining the flow of migrants will be based on national and multinational case studies. The paper will continue to examine the social and economic benefits of entrepreneurs within the private sector. This basis will help analyze the effects of successful return entrepreneurs to their home country after a stint abroad. The discussion will discuss utilizing the unique traits of these entrepreneurs, who have shown to promote risk taking, innovation, and competition, and how this can help propel a nation economically and socially due to their innate connection to their home country. Since these entrepreneurs have natural ties and motives to help their home country, the state government should adequately enable these entrepreneurs to engage in ventures at home also. Further analysis will provide mutually beneficial recommendations that should be implemented in West African countries that can enhance economic and social welfare through a focus on the returning cultural entrepreneur. The case study will interview West African Cultural Entrepreneurs in Paris discussing their plan on starting ventures and initiatives on their return to their home country. This paper recommends that West African countries actively incentivize the return ventures of these entrepreneurs to promote sustainable development within this region.
|School:||The American University of Paris (France)|
|Source:||MAI 58/05M(E), Masters Abstracts International|
|Subjects:||African Studies, European Studies|
|Keywords:||Incentivize, Rentrepreneurs, Return migration, Socioeconomic development|
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