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Poverty drivers and Nigeria’s development: Implications for policy intervention

Aderounmu, Busayo and Azuh, Dominic E. and ONANUGA, Olaronke and Oluwatomisin, Ogundipe and Bowale, Ebenezer I.K and Azuh, Akunna E. (2021) Poverty drivers and Nigeria’s development: Implications for policy intervention. Cogent Arts & Humanities, 8.

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Several policies and programmes have been put in place to address the issue of poverty both in developing and developed countries of which Nigeria is not exempted. This study using data from World Development Indicators (WDI) for the period of 1992–2016 examined the key principles influencing poverty rate in Nigeria and their implications for policy interventions. The result of the Autoregressive Distributed Lag (ARDL) model using several equations showed that unemployment increases poverty by approximately 1.4, 1.5 and 3.3 percent in the short run while inflation reduces poverty by approximately 0.08 percent in the short run. This implies that unemployment causes poverty while inflation, public resources devoted to austerity programmes and economic growth reduces poverty in the short run. The study recommends that government should put in place adequate measures and conducive environment to encourage more business operations in the country.

Item Type: Article
Uncontrolled Keywords: Development Studies; Sustainable Development; Development Policy; Economics and Development
Subjects: H Social Sciences > H Social Sciences (General)
H Social Sciences > HB Economic Theory
Divisions: Faculty of Law, Arts and Social Sciences > School of Social Sciences
Depositing User: AKINWUMI
Date Deposited: 27 Jun 2021 00:09
Last Modified: 30 Sep 2022 11:59

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