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

Topic Description

TABLE OF CONTENT
Tittle Page ……………………………………………………………………………. i
Declaration …………………………………………………………………………… ii
Certification page …………………………………………………………………… iii
Acknowledgement …………………………………………………………………… iv
Abstract ………………………………………………………………………………. v
Table of contents ……………………………………………………………………… vi
List of Tables …………………………………………………………………………. vii
List of Figures ………………………………………………………………………… viii
References …………………………………………………………………………….. ix
Appendix ………………………………………………………………………………. x
CHAPTER ONE
INTRODUCTION
1.1 Background of the study ………………………………………………………….. 1
1.2 Statement of the problems ………………………………………………………… 2
1.3 Research questions ………………………………………………………………… 4
1.4 Objectives of the study ……………………………………………………………. 4
1.5 Hypothesis …………………………………………………………………………. 4
1.6 Significance of the study …………………………………………………………… 5
1.7 Scope and limitations of the study ………………………………………………… 6
1.8 Organization of the study …………………………………………………………. 6
CHAPTER TWO
LITERATURE REVIEW
2.0 Introduction ……………………………………………………………………….. 8
vii
2.1 Conceptual Literature …………………………………………………………….. 8
2.2 Overview of unemployment, inflation and economic growth in Nigeria ………………………………………………………………………………………….. 15
2.3Causes of unemployment and inflation in Nigeria ……………………………… 18
2.4 Strategies and policy frameworks for unemployment and inflation reduction in Nigeria ………………………………………………………………………..……….. 25
2.5 Theoretical literature …………………………………………………………….. 27
2.5.1 Theories of unemployment ……………………………………………………… 27
2.5.2 Theories of inflation ………………………………………………………….. 29
2.5.3 Theories of growth …………………………………………………………… 33
2.6 Empirical literature …………………………………………………………….. 39
CHAPTER THREE
RESEARCH METHODOLOGY
3.1 Framework for methodology ………………………….……………………….. 44
3.2 Empirical Framework …………………………………………………………… 45
3.3 Expected result of the study …………………………………………………….. 45
3.4 Models Specification ……………………………………………………………..45
3.5 Diagnostic Test …………………………………………………………….……. 47
3.6 Sources of data ………………………………………………………………….. 49
CHAPTER FOUR
DATA PRESENTATION AND ANALYSIS
4.1 Data presentation ………………………………………………………………… 50
4.2 Empirical Results and Discussion ……………………………………………….. 52
4.3 Hypothesis Testing/correlation coefficients Results ……………………………. 56
4.4 Discussion of Unit root Test Results …………………………………………….. 58
4.5 Discussion of Cointegration Results …………………………………………….. 58
viii
4.6 Findings of the Study …………………………………………………………… 60
CHAPTER FIVE
SUMMARY, CONCLUSION AND RECOMMENDATIONS
5.1 Summary of Findings ………………………………………………………….. 62
5.2 Conclusion …………………………………………………………………….. 64
5.3 Recommendations ……………………………………………………………… 66
Table 4.1 Descriptive Statistics …………………………………………………….. 50
Table 4.2 Growth effects of unemployment and inflation …………………………. 52
Table 4.3 Correlation coefficients Results ……………………………………………. 57
Table 4.4 Unit root test results ……………………………………………………….. 58
Table 4.5 Johansen Long run cointegration equation…………………….…………… 59
Figure 2.5.2a Cost push inflation……………………………………………………… 30
Figure 2.5.2b Demand-pull inflation ………………………………………………….. 30
Figure 4.3 Simple Phillips curve………………………………………………………. 31
REFFERENCE ………………………………………………………………………. 68
APPENDICES……………………………………………………………………………………………….. 77
Appendix i Raw Data on economic growth, unemployment and inflation rates ……… 77
Appendix ii Cointegration test result …………………………………………………… 78

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