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Empirical Appraisal of Poverty-Unemployment Relationship in Nigeria

Author

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  • Okorie, George Chisom

    (Department of Economics, Godfrey Okoye University, Enugu, Nigeria)

  • Anowor, Oluchukwu F.

    (Department of Economics, Godfrey Okoye University, Enugu, Nigeria)

Abstract

The relationship between unemployment and poverty has been of interest to many a scholar with interest in development economics and social sciences. This paper is an addition to the empirical attempts to re-examine the relationship between unemployment rate and poverty incidence in Nigeria using secondary data sourced from relevant institutions to obtain major Social and Economic indicators spanning within 1980-2015. The study used Trend graph analysis, Correlation coefficient analysis and Granger causality tests in its analyses. As shown from the results, there is a positive-significant correlation between unemployment and poverty in Nigeria. More so, this was corroborated by the Trend graph analysis. It also established that unemployment granger causes poverty in Nigeria as suggests from the Granger causality tests. The economic implication of this result is that poverty is an increasing function of unemployment; and the Error Correction Mechanism (ECM) pointed that short run disequilibrium in the economy can be returned to equilibrium in the long run with a poor speed of adjustment of 6 %. In the light of these findings, this study recommends that efforts should be intensified in Nigeria towards implementation of unemployment reduction policies as this will significantly reduce poverty incidence.

Suggested Citation

  • Okorie, George Chisom & Anowor, Oluchukwu F., 2017. "Empirical Appraisal of Poverty-Unemployment Relationship in Nigeria," International Journal of Economics and Financial Research, Academic Research Publishing Group, vol. 3(6), pages 91-97, 06-2017.
    • Handle: RePEc:arp:ijefrr:2017:p:91-97
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    References listed on IDEAS

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    1. Evelyn Nwamaka Osaretin Ogbeide & David Onyinyechi Agu, 2015. "Poverty and Income Inequality in Nigeria: Any Causality?," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 5(3), pages 439-452, March.
    2. World Bank, 2009. "Geography in Motion: World Development Report 2009 (excerpt)," Transnational Corporations Review, Ottawa United Learning Academy, vol. 1(3), pages 40-46, September.
    3. World Bank, 2015. "World Development Indicators 2015," World Bank Publications - Books, The World Bank Group, number 21634.
    4. Arne Bigsten, 2014. "Dimensions of African Inequality," WIDER Working Paper Series wp-2014-050, World Institute for Development Economic Research (UNU-WIDER).
    5. Bigsten, Arne, 2014. "Dimensions of African inequality," WIDER Working Paper Series 050, World Institute for Development Economic Research (UNU-WIDER).
    6. Evelyn Nwamaka Osaretin Ogbeide & David Onyinyechi Agu, 2015. "Poverty and Income Inequality in Nigeria: Any Causality?," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 5(3), pages 439-452.
    7. World Bank, 2009. "World Development Report 2009," World Bank Publications - Books, The World Bank Group, number 5991.
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    Cited by:

    1. Anowor Oluchukwu F.* & Uwakwe Queendaline Chinyere & Chikwendu Nneka Francisca, 2019. "How Investment Does Affect Unemployment in a Developing Economy," Sumerianz Journal of Economics and Finance, Sumerianz Publication, vol. 2(7), pages 82-88, 07-2019.

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