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Unemployment And Inflation In Nigeria
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1.3 OBJECTIVE OF THE STUDY:
The
primary objective of this study is to examine if there is any trade-off
relationship between unemployment and inflation in Nigeria. Other
objectives include;
a. To ascertain the impact of government expenditure on unemployment.
b. To examine the impact of gross domestic product on unemployment.
1.4 THE RESEARCH HYPOTHESIS:
The study will be guided by the following hypothesis;
1. Null hypothesis (Ho): There is no trade-off relationship between unemployment and inflation in Nigeria.
2. Null hypothesis (H0): Government expenditure has no impact on unemployment in Nigeria.
3. Null hypothesis (H0): Gross domestic product has no significant impact on unemployment in Nigeria.
1.5 SIGNIFICANCE OF THE STUDY:
Why
has unemployment and inflation continued to rise despite the
substantial increase in the nation‟s GDP? Is it that successive
governments neglected the issue of unemployment and inflation or has the
twin problems defied all economic theories? These are questions that
need immediate answers, because unemployment and inflation are current
issues that is affecting our country and which is being discussed by
both experts and lay-men alike.
Therefore, this study will be of
paramount importance to economic decision-makers, as it will equip them
with the knowledge and skills needed to tackle the pressing issue of
unemployment and inflation in our country. Also, to those who would like
to carry out further research on this topic, it would be of valuable
help in the course of their research.
1.6 SCOPE OF THE STUDY:
The
research work intends to study unemployment and inflation situation
within the Nigerian economy. The study will cover the time period
1986-2011 (a period of 25 years); this is to ensure updated information
and to follow the trend. The range was chosen based on
data availability and to have adequate observation for a meaningful analysis.
1.7 LIMITATIONS OF THE STUDY:
When
carrying out research in social sciences, the data that one generally
encounters are non-experimental in nature, that is, not subject to the
control of the researcher. Therefore, this lack of control may create
special problems for the researcher in pinning down the exact
relationship that exists between unemployment and inflation in Nigeria.
In
the course of the study, the researcher tried to access the CBN
statistical bulletin of 2010, but was unable to get data for the figures
of unemployment and inflation in 2011. He therefore resorted to
accessing the internet for the missing figure for 2011. The researcher
also encountered the challenge of inadequate and incomplete information
from the internet and the school library. The researcher was also faced
with the problem of unavailability of funds to carry out the research
work.
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