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Does Unemployment Significantly Impact on the Economic Growth of Nigeria?

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  • Onwachukwu, Chinedu Increase

Abstract

This study examines the impact of unemployment on the economic growth of Nigeria from 1985 to 2010. The Ordinary Least Squares (OLS) and Augmented Dickey-Fuller methods are used to estimate the model of one dependent variable (Real GDP growth rate) and two explanatory variables (inflation and unemployment). It was found that unemployment does not have a significant impact on the economic growth of Nigeria. Inflation, however, was found to significantly impact on the economic growth of Nigeria. Recommendations are also made to help accelerate the rate of growth.

Suggested Citation

  • Onwachukwu, Chinedu Increase, 2015. "Does Unemployment Significantly Impact on the Economic Growth of Nigeria?," MPRA Paper 66966, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:66966
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    File URL: https://mpra.ub.uni-muenchen.de/66966/1/MPRA_paper_66966.pdf
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    References listed on IDEAS

    as
    1. Khan, Abdul Qayyum Khan & Khattak, Naeem Ur Rehman Khattak & Hussain, Anwar Hussain, 2008. "Inter-dependencies and Causality in the Macroeconomic Variables: Evidence from Pakistan (1960-2005). Sarhad J. Agric. 24 (1): 199-205," MPRA Paper 42034, University Library of Munich, Germany.
    2. Freeman, Donald G, 2001. "Panel Tests of Okun's Law for Ten Industrial Countries," Economic Inquiry, Western Economic Association International, vol. 39(4), pages 511-523, October.
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    More about this item

    Keywords

    Economic Growth; Unemployment; Inflation;
    All these keywords.

    JEL classification:

    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O4 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity

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