Ogunwale, Oluwadamilola Deborah and Covenant University, Theses (2021) MACROECONOMIC POLICIES, CORRUPTION AND UNEMPLOYMENT IN NIGERIA. Masters thesis, Covenant University Ota..
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Abstract
Macroeconomic policies are vital in achieving sustainable economic growth, reduced unemployment, price stability and favourable balance of payments. Using policy proxy variables, several studies were conducted to investigate the impact of macroeconomic policies on global unemployment. However, this aspect explored in previous studies is the economic aspect, while the social aspect has not been well researched. This research thus examines the effect of macroeconomic (fiscal and monetary) policies and corruption on Nigerian unemployment from a broader global social as well as economic viewpoint utilizing yearly time series data spanning 39 years (1981-2019). All of the research variables were subjected to a unit root test, which revealed that they were all stationary at first difference. The Johansen Co-integration test was used to look into the long run connection between the independent and dependent variables, while the Vector Error Correction Model was used to look into the short run dynamics. The study found a long run positive relationship between money supply, economic output and unemployment. While for interest rate, government expenditure and unemployment, a negative relationship was established. In investigating the relationship between corruption and unemployment, the study employed the correlation test which revealed a positive relationship between the variables. Based on the study findings, the study therefore suggested that government expenditure and debt should be restructured in such a way that it is channelled to productive labour-intensive sectors to absorb large number of the working population, hence, leading to a decline in the unemployment rate in the country. The study also recommended that appropriate disciplinary measures should be imposed in those who engage in corrupt practices to reduce the level of corruption in the economy and have a transmission effect of reduction in unemployment.
| Item Type: | Thesis (Masters) |
|---|---|
| Uncontrolled Keywords: | Monetary policy, Fiscal policy, Corruption, Economic growth, Unemployment. |
| Subjects: | H Social Sciences > HB Economic Theory |
| Divisions: | Faculty of Law, Arts and Social Sciences > School of Social Sciences |
| Depositing User: | Mrs Patricia Nwokealisi |
| Date Deposited: | 11 Nov 2021 08:58 |
| Last Modified: | 11 Nov 2021 08:58 |
| URI: | http://eprints.covenantuniversity.edu.ng/id/eprint/15470 |
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