TRADE OPENNESS AND UNEMPLOYMENT RATE IN NIGERIA

Philip Nwosa (), Sunday Keji (), Samuel Adegboyo () and Oluwadamilola Fasina ()
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Philip Nwosa: Department of Economics, Faculty of Social Sciences, Federal University Oye, Ekiti State, Nigeria
Sunday Keji: Department of Economics, Faculty of Social Sciences, Federal University Oye, Ekiti State, Nigeria
Samuel Adegboyo: Department of Economics, Faculty of Social Sciences, Federal University Oye, Ekiti State, Nigeria
Oluwadamilola Fasina: Department of Economics, Faculty of Social Sciences, Federal University Oye, Ekiti State, Nigeria

Oradea Journal of Business and Economics, 2020, vol. 5, issue 2, 52-62

Abstract: This study examines the relationship between trade openness and unemployment rate in Nigeria from 1980 to 2018. The study utilized the auto-regressive distributed lag (ARDL) technique and the result of the study shows that trade openness had negative and significant impact on unemployment rate in Nigeria. The implication of this result is that trade openness provides employment opportunities, which reduces the unemployment rate in Nigeria. Thus, the study concludes that trade openness is a significant determinant of unemployment in Nigeria. The study recommends the need for conscious economic policies that would promote foreign private investment, capable of enhancing aggregate volume of investment in the country and contribute to employment generation in the Nigeria. Finally, government needs to explore new marketing areas for foreign investors which would also contribute to employment generation.

Keywords: Trade Openness; Unemployment; ARDL; Nigeria. (search for similar items in EconPapers)
JEL-codes: F13 F16 J21 (search for similar items in EconPapers)
Date: 2020
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Citations: View citations in EconPapers (1)

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