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JOBLESS GROWTH: THE NIGERIAN CASE

Authors: ONAKOYA Adegbemi , OLUWALAIYE Olusola , Essien Susan Simon

Publication Type: Journal article

Journal: Babcock Journal Of Economics

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Abstract

This paper investigated the phenomenon known as jobless growth in Nigeria between 1985 and 2017. It deployed the Johansen Co-integration and Vector Error Correction Model tests after conducting the unit root test, and selection of the optimal lag. The Toda Yamamoto causality test was also applied to know the direction of causality. The Impulse response function was used to determine the shock effect of one variable on the other. A number of post-estimation tests were carried out including serial autocorelation, heteroskediscity, normality, linearity, stability and causality tests. The result revealed the existence of both long and short-run relationship between GDP and unemployment rate. The study established that GDP, inflation rate and population growth rate are positively cointegrated with unemployment rate at 0.05 levels. However, the causal relationship was uni-directional, from GDP to unemployment. It was also uni-directional from unemployment to inflation. However, exchange rate was adversely related to the unemployment rate. The study recommended the intensive use of the public-private template for the provision of social and economic infrastructure with emphasis on projects with employment generating potentials. The diversification of the economy from the current heavy reliance is a sine qua non requisite for development especially along the line of value added (chain) and labour - enhancing agriculture, manufacturing and service sectors which, capable of positive employment generating externalities.

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ONAKOYA,A. OLUWALAIYE,O. Essien,S.S . (2020). JOBLESS GROWTH: THE NIGERIAN CASE, 7 (), 29-29.

ONAKOYA,A. OLUWALAIYE,O. Essien,S.S . "JOBLESS GROWTH: THE NIGERIAN CASE" 7, no (), (2020): 29-29.

ONAKOYA,A. and OLUWALAIYE,O. and Essien,S.S and . (2020). JOBLESS GROWTH: THE NIGERIAN CASE, 7 (), pp29-29.

ONAKOYAA, OLUWALAIYEO, EssienSS, . JOBLESS GROWTH: THE NIGERIAN CASE. 2020, 7 ():29-29.

ONAKOYA,Adegbemi , OLUWALAIYE,Olusola , and Essien,Susan Simon . "JOBLESS GROWTH: THE NIGERIAN CASE", 7 . (2020) : 29-29.

O.Adegbemi O.Olusola & E.Susan Simon , "JOBLESS GROWTH: THE NIGERIAN CASE" vol.7, no., pp. 29-29, 2020.

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