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The Tripartite Dynamic Relationship between Poverty, Unemployment and Construction Sector: Empirical Evidence from Nigeria

Peter Uchenna Okoye (), Chukwuemeka Ngwu () and Christian Ifeanyi Ohaedeghasi ()
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Peter Uchenna Okoye: Nnamdi Azikiwe University, Awka, Nigeria
Chukwuemeka Ngwu: Nnamdi Azikiwe University
Christian Ifeanyi Ohaedeghasi: Nnamdi Azikiwe University

Management Dynamics in the Knowledge Economy, 2021, vol. 9, issue 1, 17-38

Abstract: The increasing rate of poverty and unemployment in Nigeria has necessitated further efforts towards alternative means of reducing the trend, outside the government’s microeconomic mechanisms. As a sector with multiplier effects on other sectors of economy through its numerous activities, the construction sector is expected to reduce both poverty and unemployment. This study, therefore, examined the relationships between construction sector variables, poverty and unemployment rates in Nigeria. Using socio-economic data published by the Central Bank of Nigeria, National Bureau of Statistics, United Nations Development Program and World Bank from 1981-2019, the study deployed an Autoregressive Distributed Lag (ARDL) approach to analyze the relationships between construction sector variables, poverty, and unemployment rates. It also used Granger causality test to determine the direction of causation between the variables under investigation. The results showed that there are both long-run and short-run dynamic relationships between poverty rate and construction sector variables (F-stat. (3.93) > upper (3.67) and lower (2.79)) bounds. It showed that no long-run balanced relationship exists between the unemployment rate and construction sector variables (F-stat. (2.01)

Keywords: construction sector; poverty; unemployment; construction output; construction expenditure (search for similar items in EconPapers)
Date: 2021
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