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Impact of Global Economic Meltdown on Property Development in Bauchi, Nigeria

Author

Listed:
  • Abubakar Mammadi
  • Habu Mallam Baba
  • Sadiq Tukur
  • Abdulazeez Adam Muhammad

    (Abubakar Tafawa Balewa University)

Abstract

The global economic meltdown is a situation in which the economy of a country experiences a sudden downturn brought on by a financial crisis. This global recession was caused by so many factors, thus, inflation rate, exchange rate, interest rate, unemployment rate, etc. This paper examined the impact of the global economic meltdown on property development in Bauchi, Nigeria. Data for the study are mainly primary in the form of questionnaires administered. The study had property development as an endogenous variable while a high-interest rate and unemployment rate as exogenous variables to measure the constructs. Multiple Regression were used to analyze the data. Among the study, findings are that high relationship exists between the two predictor variables (High-Interest Rate & Unemployment Rate) and dependent variable (property Development) where ‘R’ of 0.724 means the correlation is about 72 %; with R2 of 0.052 indicate that 5.2 % correlation, the analysis also depict in coefficient table that high-interest rate has more influence on dependent variable (PD) than unemployment rate. The analysis signified that the impact of the global economic meltdown has a positive effect on the dependent variable. Based on the findings, the study recommended governments and financial institutions intervention to curb the impediment of property development in Bauchi, Nigeria.

Suggested Citation

  • Abubakar Mammadi & Habu Mallam Baba & Sadiq Tukur & Abdulazeez Adam Muhammad, 2019. "Impact of Global Economic Meltdown on Property Development in Bauchi, Nigeria," Traektoriâ Nauki = Path of Science, Altezoro, s.r.o. & Dialog, vol. 5(12), pages 2001-2008, December.
    • Handle: RePEc:pos:journl:53-3
    DOI: 10.22178/pos.53-3
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    More about this item

    Keywords

    Economic Meltdown; Property Development; Housing Market; Interest Rate;
    All these keywords.

    JEL classification:

    • O18 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Urban, Rural, Regional, and Transportation Analysis; Housing; Infrastructure

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