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The Impact of Unemployment and inflation on Economic Growth in Nigeria (1981–2014)

Author

Listed:
  • Abdulsalam S. Ademola

    (Department of Economics and Development Studies, Federal University Dutsinma, Katsina State, Nigeria)

  • Abdullahi Badiru

    (Department of Economics and Development Studies, Federal University Dutsinma, Katsina State, Nigeria)

Abstract

Purpose - To investigate and determine the effects of unemployment and inflation on economic performance in Nigeria within the specified period as in the title and to establish the relationship between unemployment and inflation with Real Gross Domestic Product in Nigeria. Design/methodology/approach - Ordinary Least Square (OLS) technique was adopted with various diagnostic test to determine how fit are the data for the analysis. Findings - The result of Diagnostic test indicates that data for the analysis are stationary at level and there are 2 cointegrating equation implying that there exist long-run relationship between RGDP, Unemployment and inflation. The results indicated that unemployment and inflation are positively related to economic growth. Research limitations/implications - The study uses only OLS and Diagnostic to carried out the analysis and it only cover the period from 1981 to 2014. Originality/value - The originality of this study lies on findings and interpretation of the result of regression analysis. The positive relationship between unemployment, inflation and RGDP indicates that Nigeria RGDP is driven by oil revenue that employs very limited highly skilled labour and the price of output of crude oil is determined externally which may not response as expected to growth of output in the country.

Suggested Citation

  • Abdulsalam S. Ademola & Abdullahi Badiru, 2016. "The Impact of Unemployment and inflation on Economic Growth in Nigeria (1981–2014)," International Journal of Business and Economic Sciences Applied Research (IJBESAR), International Hellenic University (IHU), Kavala Campus, Greece (formerly Eastern Macedonia and Thrace Institute of Technology - EMaTTech), vol. 9(1), pages 47-55, April.
    • Handle: RePEc:tei:journl:v:9:y:2016:i:1:p:47-55
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    Citations

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    Cited by:

    1. Yakubu EGEDE & Umaru AMINU & Aminu HAMMA & Caroline Iyabo ADEMOLA-JOHN, 2023. "Revisiting the Validity of Phillips Curve in Nigeria: An ARDL Approach," Management and Economics Review, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 8(1), pages 24-34, February.
    2. Dimakatso Sekwati & Mbulaheni Albert Dagume, 2023. "Effect of Unemployment and Inflation on Economic Growth in South Africa," International Journal of Economics and Financial Issues, Econjournals, vol. 13(1), pages 35-45, January.
    3. Zethembe Mseleku, 2022. "From Workplace to Joblessness: The Determinants of Post-Internship Graduate Unemployment in South Africa," Academic Journal of Interdisciplinary Studies, Richtmann Publishing Ltd, vol. 11, March.
    4. Salyha Zulfiqar Ali Shah & Mah Rukh Shabbir & Sabiha Parveen, 2022. "The Impact of Unemployment on Economic Growth in Pakistan: An Empirical Investigation," iRASD Journal of Economics, International Research Alliance for Sustainable Development (iRASD), vol. 4(1), pages 78-87, March.
    5. Karikari-Apau, Ellen & Abeti, Wilson, 2019. "The Impact of Unemployment on Economic Growth in China," MPRA Paper 96100, University Library of Munich, Germany.

    More about this item

    Keywords

    Cointegration; economic growth; inflation and unemployment;
    All these keywords.

    JEL classification:

    • E11 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Marxian; Sraffian; Kaleckian

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