Abstract
An Assessment of Inclusive Growth Policy as a Determinant of Unemployment Reduction in Nigeria: an Application of Autoregressive Distributed (ARDL) Bound Test Approach
Highlights
In most developing countries and Nigeria, unemployment is becoming an increasingly alarming and worrisome socio-economic malaise looming the fortunes of the country
If real agricultural output increases by 1%, unemployment rate fall by 0.26% creating a higher prospect for investment in the sector and resulting to an improvement in the development of the economy which is in line with the findings of Olajide, Akinlabi and Tijani (2012) in Nigeria
The long run tie suggests that, any 1 percent expansion or contraction in industrial output will lead to 8.95 percent contraction or expansion in the rate of unemployment in Nigeria invariably driving the economy towards achieving inclusive growth
Summary
In most developing countries and Nigeria, unemployment is becoming an increasingly alarming and worrisome socio-economic malaise looming the fortunes of the country. In order to create self-dependency and gainful employment that can leads to inclusive growth in Nigeria, certain governmental programmes and policies were inaugurated such as the introduction of vocational courses in the educational curriculum in 1997, the creation of the National Directorate of Employment in 1986 solely for skills acquisition; industrialization programmes and policies; the National Economic Empowerment and Development Strategy designed in 2004 with one of its goal tuned towards fighting unemployment and the Agricultural programmes and policies geared at generating employment for graduates, non-graduates and school leavers in the Agricultural sector coupled with election promises (Nkwatoh, 2012; Udo, 2014).
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