Dynamics of Manufacturing Sector Development and Youth Unemployment in Africa

Omowumi Monisola Ajeigbe, Phillip Akanni Olomola and Oluwayemisi Khadijat Adeleke
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Omowumi Monisola Ajeigbe: Department of Economics, Faculty of Social Sciences, Redeemers University, Ede, Nigeria
Phillip Akanni Olomola: Department of Economics, Faculty of Social Sciences, Obafemi Awolowo University, Ile-Ife, Nigeria
Oluwayemisi Khadijat Adeleke: Department of Economics, Faculty of Social Sciences, Redeemers University, Ede, Nigeria

International Journal of Research and Innovation in Social Science, 2021, vol. 5, issue 7, 599-606

Abstract: The study examined the effect of manufacturing sector development on youth unemployment in Africa. The study made use of 33 African countries within the time frame of 2000-2018. Data was sourced from the world development indicators by the World Bank. The estimation technique used was the Panel Autoregressive Distributed lag which deals with the stationary series problem of different orders and allows us to study potential long term effects of structural economic policies. The variables used were in natural logarithms and they are Youth Unemployment, Manufacturing Value Added, Foreign Direct Investment, Gross Capital Formation and Domestic Credit to Private Sector. The result revealed a positive long run relationship among MVA, DCP FDI, GCF and YUEMP. In the short run, MVA and DCP showed a positive relationship to youth unemployment while FDI and GCF showed a negative relationship. The study recommended that to curb the menace of youth unemployment ravaging major African Countries, policy focal point should be directed towards the development of manufacturing sector, conducive economic environment to attract foreign direct investment, policies should be put in place to enhance capital formation with domestic credit being made available for new and existing entrepreneurs and industrialist.

Date: 2021
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