The Effect of Unemployment on Economic Growth in Nigeria
DOI:
https://doi.org/10.54536/ajase.v2i1.1580Keywords:
Economic Growth, Unemployment, Nigeria, Autoregressive Distribution Lag Model, Labor ForceAbstract
This study investigates the trends and effects of unemployment on economic growth in Nigeria using secondary data from relevant institutions for analysis from 2010 to 2020. The Auto Regressive Distribution Lag (ARDL) bounds test methodology is utilized to determine the long run relationship between unemployment and economic growth. The empirical findings using the ARDL Model confirmed that there exists an inverse relationship between economic growth and unemployment, and that unemployment leads to increasing crime rates in both short and long run.
Downloads
References
Ahmed A. (2011). Financial Structure and economic growth link in African countries: a panel co-integration analysis. Journal of Economic Studies 38(3), 331-357.
Biyase M. and Bonga-Bonga L. (2010). South Africa’s Growth Paradox. University of Johannesburg working paper.
Bankole A. and Fatai B. (2013). Empirical Test of Okun’s Law in Nigeria, International Journal of Economic Practices and Theories 3(3), 23-36.
Chanshuai L. and Zi-juan L. (2012). The relationship among Chinese Unemployment rate, economic growth and inflation. The AAEF Journal of Economics 1(1), 1-3.
Egunjobi T. Adenike (2021.) Tanzanian Economic Review, 11, 115—136.
H. (2016). The impact of economic growth on unemployment in South Africa: 1994-2012, Investment Management and Financial Innovations, 13(2), 246- 255.
Irfan M. (2010). Financial Crises and Economic growth: a time series analysis, Munich personal RePEc Archive Paper No. 40691.
Kingdon G. and Knight J. (2007). Unemployment in South Africa 1995-2003: Causes, Problem and Policies, Journal of African Economics, 16(5), 813-848.
Osinubi T. (2005). Macroeconometric Analysis of growth, Unemployment and Poverty in Nigeria, Pakistan Economic and Social Review 523(2), 249-269.
Okun A. (1962). Potential GNP: Its Measurement and Significance in Statistics Section? American Statistical Association, Washington DC .
Omolewa Egor Ese (2018).Entrepreneurship development lecture notes.
Omoke P. and Ugwanyi C. (2010). Money, Price and Output: A Causality test for Nigeria, American Journal of Scientific Research 7(8), 78-87.
Pesaran M., Shin Y. and Smith R. (2001). Bounds testing approaches to the analysis of level relationships, Journal of Applied Econometrics 16(2), 289-326.
Rafinandadi A. (2012). Empirical Analysis of the Effects of Central Bank Communications on Money Market Volatility in Nigeria: 2007-2011,Unpublished Masters Thesis Ahmadu Bello University.
Shadid A., (2015). India-Saudi Arabia bilateral trade relations: Recent experiences and future opportunities, International Journal of Economics and Empirical Research (IJEER) 3(7), 327–342.
Stephen G. (2012). Reassessing the impact of finance on growth, Bank for International Settlements working paper, No. 381.
Wang S. and Abrams A. (2007). Can the budget boost agricultural performance: A VAR. Journal of Economics and Management, University of Economics, Katowice, 35(1) 2019.
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2023 Rasheed Olayemi Nojeem
This work is licensed under a Creative Commons Attribution 4.0 International License.
