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The Nexus Between Macroeconomics and Demographics: Implications for Sustainable Development


  • Ngozi M. Nwakeze

    (University of Lagos, Akoka-Yaba, Lagos, Nigeria)


This paper explores the interlinkage effects of macroeconomic variables on the demographic dynamics of Nigeria. This topic is important because available evidence still suggests that Nigeria has a very young population and that the country is not likely to experience demographic transition in the near future. Using the Ordinary Least Square (OLS) estimation technique, a regression model is developed. The model is used to explore the links between demographic variables and macroeconomic variables such as real gross domestic product, age dependency ratio and agricultural land. The findings indicate that the link between macroeconomic variables and demographic variables is somewhat ambiguous which requires explanations at the micro level. To gain more insights for practical solutions on the post-2015 sustainable development agenda, a comparative analysis of the macroeconomic and demographic indicators as well as policies on population growth for selected countries is conducted.

Suggested Citation

  • Ngozi M. Nwakeze, 2014. "The Nexus Between Macroeconomics and Demographics: Implications for Sustainable Development," The Economic and Social Review, Economic and Social Studies, vol. 45(2), pages 285-298.
  • Handle: RePEc:eso:journl:v:45:y:2014:i:2:p:285-298

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    References listed on IDEAS

    1. Kelley, Allen C & Schmidt, Robert M, 1996. "Saving, Dependency and Development," Journal of Population Economics, Springer;European Society for Population Economics, vol. 9(4), pages 365-386, November.
    2. Higgins, Matthew, 1998. "Demography, National Savings, and International Capital Flows," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 39(2), pages 343-369, May.
    3. Lindh, Thomas & Malmberg, Bo, 2007. "Demographically based global income forecasts up to the year 2050," International Journal of Forecasting, Elsevier, vol. 23(4), pages 553-567.
    4. Schultz, T Paul, 1973. "A Preliminary Survey of Economic Analyses of Fertility," American Economic Review, American Economic Association, vol. 63(2), pages 71-78, May.
    5. Robert M. Schmidt & Allen C. Kelley, 1996. "Saving, dependency and development," Journal of Population Economics, Springer;European Society for Population Economics, vol. 9(4), pages 365-386.
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