Impact of Unemployment on Economic Growth in Nigeria: Bound Test and ARDL Approach
This study examined the impact of unemployment on economic growth in Nigeria. And based on the literature reviewed, the identified gaps were found in the scope, appropriate control variables and estimation techniques for the robustness of the findings. Data was sourced from the publications of Worl...
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| Format: | Article |
| Language: | English |
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Danubius University
2023-05-01
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| Series: | Acta Universitatis Danubius: Oeconomica |
| Subjects: | |
| Online Access: | https://www.dj.univ-danubius.ro/index.php/AUDOE/article/view/2310 |
| _version_ | 1797834711621435392 |
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| author | Henry Omotayo Olayemi Olukayode Emmanuel Maku Oluwaseyi Adedayo Adelowokan |
| author_facet | Henry Omotayo Olayemi Olukayode Emmanuel Maku Oluwaseyi Adedayo Adelowokan |
| author_sort | Henry Omotayo Olayemi |
| collection | DOAJ |
| description |
This study examined the impact of unemployment on economic growth in Nigeria. And based on the literature reviewed, the identified gaps were found in the scope, appropriate control variables and estimation techniques for the robustness of the findings. Data was sourced from the publications of World Bank-World Development Indicator, International Labour Organisation and Central Bank of Nigeria (CBN Statistical Bulletin) from 1980 – 2019 and various diagnostic tests such as Unit Roots and Bound Tests were carried out. Consequently, ARDL model was utilized to address the objective of this study. It was found out that unemployment had a positive and significant impact on economic growth both in the short run and in the long run. Furthermore, based on the findings, the paper recommended the introduction of programmes and policies that will promote enabling business environment to enable the teeming unemployed population to contribute to economic growth in Nigeria.
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| first_indexed | 2024-04-09T14:43:03Z |
| format | Article |
| id | doaj.art-0bb8497d9da6419597b57aefd37edb99 |
| institution | Directory Open Access Journal |
| issn | 2065-0175 2067-340X |
| language | English |
| last_indexed | 2024-04-09T14:43:03Z |
| publishDate | 2023-05-01 |
| publisher | Danubius University |
| record_format | Article |
| series | Acta Universitatis Danubius: Oeconomica |
| spelling | doaj.art-0bb8497d9da6419597b57aefd37edb992023-05-03T02:56:34ZengDanubius UniversityActa Universitatis Danubius: Oeconomica2065-01752067-340X2023-05-01192Impact of Unemployment on Economic Growth in Nigeria: Bound Test and ARDL ApproachHenry Omotayo Olayemi0Olukayode Emmanuel Maku1Oluwaseyi Adedayo Adelowokan2Olabisi Onabanjo UniversityOlabisi Onabanjo UniversityOlabisi Onabanjo University This study examined the impact of unemployment on economic growth in Nigeria. And based on the literature reviewed, the identified gaps were found in the scope, appropriate control variables and estimation techniques for the robustness of the findings. Data was sourced from the publications of World Bank-World Development Indicator, International Labour Organisation and Central Bank of Nigeria (CBN Statistical Bulletin) from 1980 – 2019 and various diagnostic tests such as Unit Roots and Bound Tests were carried out. Consequently, ARDL model was utilized to address the objective of this study. It was found out that unemployment had a positive and significant impact on economic growth both in the short run and in the long run. Furthermore, based on the findings, the paper recommended the introduction of programmes and policies that will promote enabling business environment to enable the teeming unemployed population to contribute to economic growth in Nigeria. https://www.dj.univ-danubius.ro/index.php/AUDOE/article/view/2310Unemployment; Economic Growth; Bound Test; ARDL; Nigeria |
| spellingShingle | Henry Omotayo Olayemi Olukayode Emmanuel Maku Oluwaseyi Adedayo Adelowokan Impact of Unemployment on Economic Growth in Nigeria: Bound Test and ARDL Approach Acta Universitatis Danubius: Oeconomica Unemployment; Economic Growth; Bound Test; ARDL; Nigeria |
| title | Impact of Unemployment on Economic Growth in Nigeria: Bound Test and ARDL Approach |
| title_full | Impact of Unemployment on Economic Growth in Nigeria: Bound Test and ARDL Approach |
| title_fullStr | Impact of Unemployment on Economic Growth in Nigeria: Bound Test and ARDL Approach |
| title_full_unstemmed | Impact of Unemployment on Economic Growth in Nigeria: Bound Test and ARDL Approach |
| title_short | Impact of Unemployment on Economic Growth in Nigeria: Bound Test and ARDL Approach |
| title_sort | impact of unemployment on economic growth in nigeria bound test and ardl approach |
| topic | Unemployment; Economic Growth; Bound Test; ARDL; Nigeria |
| url | https://www.dj.univ-danubius.ro/index.php/AUDOE/article/view/2310 |
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