0

BOOKMARKS

0

READ

37

DOWNLOADS

30

VIEWS

1

REVIEWS

ENGLISH

ENGLISH

Unemployment and Economic Growth in Nigeria, (1990-2013)

By Dr. Adofu Ilemona  et al

Summary

The issue of unemployment has been a major challenge to most nations and it still remains on the front burner today. This study empirically assessed the impact of unemployment on economic growth in Nigeria from 1990-2013 Using the ordinary least squares estimation technique. The empirical analysis carried out shows that unemployment has a negative and non-significant relationship with gross domestic product. Also, the average capacity utilization rate and the government expenditure both have a positive and significant relationship with the gross domestic product, which is consistent with a-priori expectation. The coefficient of determination (R2) of 0.867 shows that about 87 percent of the variation in real gross domestic product was explained by variation in the independent variables. An important implication of the findings is that unemployment has far reaching negative consequences on the economic growth of Nigeria. Finally, this work suggests that in order to achieve sustainable economic growth which is a necessary condition for economic development, the Nigerian government should develop the private sector to be more vibrant and to venture into vital aspects of the economy (pumping the prime), such as, manufacturing, and mechanized agriculture. It was also recommended that the government should give more attention to vocational education to boost economic growth.
Unemployment and Economic Growth in Nigeria, (1990-2013)
 
4.0 (1 reviews)

Uploaded by: Dr. Adofu Ilemona

Read Online

Your download will begin automatically, if it's taking too long click here

Share this entry

Abstract

The issue of unemployment has been a major challenge to most nations and it still remains on the front burner today. This study empirically assessed the impact of unemployment on economic growth in Nigeria from 1990-2013 Using the ordinary least squares estimation technique. The empirical analysis carried out shows that unemployment has a negative and non-significant relationship with gross domestic product. Also, the average capacity utilization rate and the government expenditure both have a positive and significant relationship with the gross domestic product, which is consistent with a-priori expectation. The coefficient of determination (R2) of 0.867 shows that about 87 percent of the variation in real gross domestic product was explained by variation in the independent variables. An important implication of the findings is that unemployment has far reaching negative consequences on the economic growth of Nigeria. Finally, this work suggests that in order to achieve sustainable economic growth which is a necessary condition for economic development, the Nigerian government should develop the private sector to be more vibrant and to venture into vital aspects of the economy (pumping the prime), such as, manufacturing, and mechanized agriculture. It was also recommended that the government should give more attention to vocational education to boost economic growth.

 

About the Authors

Dr. Adofu Ilemona

Dr. Adofu Ilemona

Solomon Urah Peter

Solomon Urah Peter

Ugbede Maji

Ugbede Maji

Reviews

 
4.0 (1 reviews)
    Add Review