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Full-Text Articles in Social and Behavioral Sciences
Does The Okun's Law Hold In The Brics Countries And Nigeria?, U. Aminu, A. Abel, A. R. Garba
Does The Okun's Law Hold In The Brics Countries And Nigeria?, U. Aminu, A. Abel, A. R. Garba
Economic and Financial Review
The unemployment-output nexus is a topical issue in developing countries, particularly with some evidence against the trade-off suggested by Okun’s law. This study, therefore, investigates the validity of Okun’s law in the BRICS countries and Nigeria, based on annual data between 1993 and 2020, using the Panel ARDL model. We validate the Okun’s law with evidence of an inverse relationship between output and unemployment in the BRICS countries and Nigeria. We, therefore, recommend that policymakers should boost both nominal and potential output by fully diversifying the economy to enhance productivity and reduction in the unemployment rate. We also recommend that …
Problems Of Measuring Unemployment In Nigeria, H. A. Ajani, H. N. Okonta
Problems Of Measuring Unemployment In Nigeria, H. A. Ajani, H. N. Okonta
Economic and Financial Review
Much as unemployment is dreaded in all market economies, the problems associated with its measurement in Nigeria are sometimes not addressed, if ever appreciated. To facilitate international comparison, uniform measurement methods have considerably narrowed down the difference in the concept of unemployment. Nevertheless, unemployment index seems to disguise the extent of the problem in Nigeria. Unless the desire to work for a wage is explicitly expressed, it is difficult to identify the unemployed. In other words, if the job-seeker is regarded as someone actively seeking wage employment, the concept of unemployment becomes less relevant in the context of a developing …
Unemployment And Economic Development In Nigeria - Analysis And Policy Implications, E. O. Akinnifesi
Unemployment And Economic Development In Nigeria - Analysis And Policy Implications, E. O. Akinnifesi
Economic and Financial Review
This paper discusses the dynamics of the unemployment problem within the development perspective of a post-independent Nigeria. It is argued that while successive governments seemed to have recognised the problem, the solutions so far adopted have resulted in mere palliatives. Several factors accounting for unemployment have included: colonialism and the white-collar job syndrome, choice of technique in industries, structure of economic organisation, migration patterns, urbanisation, population growth, educational structure, and business cycles. Of the possible consequences of unemployment, the study highlights those having social, health, political and economic dimensions such as stress, suicide, parasuicide, armed robbery, coup d'etats, inflation, etc. …