EFFECTS OF UNEMPLOYMENT AND INFLATION ON ECONOMIC GROWTH IN NIGERIA, 1986-2012

Format: MS WORD | Chapter: 1-5 | Pages: 86 | 941 Users found this project useful | Price NGN5,000

EFFECTS OF UNEMPLOYMENT AND INFLATION ON ECONOMIC GROWTH IN NIGERIA, 1986-2012

Abstract

This thesis investigates the effects of unemployment and inflation on economic growth in Nigeria between 1986-2012 through the application of Ordinary Least Square (OLS) technique in estimating the effects of unemployment and inflation on growth, Augmented Dickey-Fuller test and Phillip‟s-Perron test statistics were employed to test the presence of unit root in the series, after which Johansen cointegration test was employed to test the existence of long-run relationship between economic growth and the independent variables. The results of unit root suggest that all the variables in the model were stationary. The Johansen cointegration result shows that there exist 2 cointegrating equations, implying the existence of long run relationship between economic growth, unemployment and inflation. The results also reveal that unemployment impacts negatively on economic growth while inflation rate impacts positively on economic growth. However,, only the coefficient of unemployment was found to be significant. The hypothesis test result using f-statistics reveals that unemployment and inflation jointly affect economic growth at 1 percent and 5 percent respectively, with values of 5.8900 in model II and 4.0637 in model III. This therefore, implies that a good performance of the Nigerian economy in terms of growth may be achieved with lows rate of unemployment and inflation in the country. Based on the coefficients of unemployment -4.6727 and inflation 0.0246 in model III, it follows that 1 percent reduction in unemployment would increase economic growth by 4.6727 percent, while 1 percent increase in inflation would increase economic growth by 0.0246 percent; hence a major policy implication is that concerted effort should be made to reduce unemployment and stabilize the prices of goods and services (inflation) so as to achieve high, rapid and sustained economic growth rate in Nigeria.

CHAPTER ONE

INTRODUCTION

1.1 Background to the study

The Nigerian economy has remained largely underdeveloped despite the huge human and natural resources. The country is richly endowed with various mineral types all over the country. Huge amount is generated annually from petroleum products. More than 40 types of solid minerals have been identified in over 500 locations in the country Musa(2010). Yet the per capita income is low, unemployment and inflation rates are high. There are many socio-economic challenges. The economy has continued to witness economic recovery which is immediately followed by economic recession and depression.The situation in Nigeria is disturbing. The various macroeconomic policies by government have been unable to achieve sustained price stability, reduction in unemployment and sustained growth cannot be achieved. The poor state of the economy has confirmed the need to manage the economy effectively. The essence of macroeconomic management underlines the rationale for the existence of government as a vital economic agent. However, it appears that government intervention has not been able to cure the ills in the Nigerian economy.The continued economic crisis, with the associated problems of high inflationary pressure, high exchange rate, and debt overhang, adverse balance of payment and high inflation rates is difficult to explain. Against a high rate of unemployment and underemployment, a large public sector, low wages and poor working conditions has been persistent high inflation rates in Nigeria. Also, underemployment and unemployment is a prominent feature of the Nigerian economy. Consequently, the full potentials of labour-surplus economy have not been fully exploited.In the 1960s and early 1970s, the Nigerian economy provided jobs for most Nigerian and absorbed considerable imported labour while inflation rates were low.

DOWNLOAD THE FULL PROJECT

Project information

Project Price

NGN5,000
Number of Pages

86
Number of Chapters

1-5
Additional Content

Abstract, Table of Content & Questionnaire

EFFECTS OF UNEMPLOYMENT AND INFLATION ON ECONOMIC GROWTH IN NIGERIA, 1986-2012

Not The Topic You Are Looking For?

For Quick Help Chat with Us Now!

+234 813 292 6373

+233 55 397 8005

Search for your project topic

HOW TO GET THE COMPLETE PROJECT ON EFFECTS OF UNEMPLOYMENT AND INFLATION ON ECONOMIC GROWTH IN NIGERIA, 1986-2012 INSTANTLY

Click on the Download Button above.
Select any option to get the complete project immediately.
Chat with Our Instant Help Desk on +234 813 292 6373 for further assistance.
All projects on our website are well researched by professionals with high level of professionalism.

Here's what our amazing customers are saying

Abraham Ogbanje

NATIONAL OPEN UNIVERSITY OF NIGERIA

At first I was afraid.. But I discovered they are legit. I will bring more patronize

Very Good

Abdul Mateen Iddrisu

UDS

At first I taught is a site full of fraudsters until I saw my project in my Gmail after my payment.. THANK YOU IPROJECTMASTER and May God the almighty bless u guys abundantly

Excellent

Ibrahim Muhammad Muhammad

Usmanu danfodiyo university, sokoto

It's a site that give researcher student's to gain access work,easier,affordable and understandable. I appreciate the iproject master teams for making my project work fast and available .I will surely,recommend this site to my friends.thanks a lot..!

Excellent

Samuel From Ajayi Crowther University

You guys just made life easier for students. Thanks alot iprojectmaster.com

Excellent

Merry From BSU

I am now a graduate because of iprojectmaster.com, God Bless you guys for me.

Excellent

Stancy M

Abia State University, Uturu

I did not see my project topic on your website so I decided to call your customer care number, the attention I got was epic! I got help from the beginning to the end of my project in just 3 days, they even taught me how to defend my project and I got a 'B' at the end. Thank you so much iprojectmaster, infact, I owe my graduating well today to you guys...

Excellent

Emmanuel Essential

Kogi state University

I actually took the risk,you know first time stuff But i was suprised i received as requested. I love you guys 🌟 🌟 🌟 🌟

Very Good

Uduak From Uniuyo

IProjectMaster is the best project site for students. Their works are unique and free of plagiarism!

Excellent

Adam Alhassan Yakubu

UDS

Excellent work and delivery , I promise to share my testimonies everyone in need of this kind of work. You're the best

Excellent

Oluchi From Michael Opara University

If you are a student and you have not used iprojectmaster materials, you are missing big time! iprojectmaster is the BEST

Excellent

View All Reviews

FREQUENTLY ASKED QUESTIONS

How do I get this complete project on EFFECTS OF UNEMPLOYMENT AND INFLATION ON ECONOMIC GROWTH IN NIGERIA, 1986-2012? Simply click on the Download button above and follow the procedure stated.
I have a fresh topic that is not on your website. How do I go about it?
How fast can I get this complete project on EFFECTS OF UNEMPLOYMENT AND INFLATION ON ECONOMIC GROWTH IN NIGERIA, 1986-2012? Within 15 minutes if you want this exact project topic without adjustment
Is it a complete research project or just materials? It is a Complete Research Project i.e Chapters 1-5, Abstract, Table of Contents, Full References, Questionnaires / Secondary Data
What if I want to change the case study for EFFECTS OF UNEMPLOYMENT AND INFLATION ON ECONOMIC GROWTH IN NIGERIA, 1986-2012, What do i do? Chat with Our Instant Help Desk Now: +234 813 292 6373 and you will be responded to immediately
How will I get my complete project? Your Complete Project Material will be sent to your Email Address in Ms Word document format
Can I get my Complete Project through WhatsApp? Yes! We can send your Complete Research Project to your WhatsApp Number
What if my Project Supervisor made some changes to a topic i picked from your website? Call Our Instant Help Desk Now: +234 813 292 6373 and you will be responded to immediately
Do you assist students with Assignment and Project Proposal? Yes! Call Our Instant Help Desk Now: +234 813 292 6373 and you will be responded to immediately
What if i do not have any project topic idea at all? Smiles! We've Got You Covered. Chat with us on WhatsApp Now to Get Instant Help: +234 813 292 6373
How can i trust this site? We are well aware of fraudulent activities that have been happening on the internet. It is regrettable, but hopefully declining. However, we wish to reinstate to our esteemed clients that we are genuine and duly registered with the Corporate Affairs Commission as "PRIMEDGE TECHNOLOGY". This site runs on Secure Sockets Layer (SSL), therefore all transactions on this site are HIGHLY secure and safe!