Financial Development on Employment Rate in Nigeria

Victor Ndubuaku, Victor Inim, Udo Emmanuel Samuel, Idamoyibo Hwerien Rosemary, Abner Ishaku Prince


This study examines financial development on employment rate in Nigeria on the premise of goal 8 of the sustainable development goals (SDGs). Using the ARDL model and annualized time-series data from 1999-2019. Findings revealed a positive and statistically significant impact of financial development on employment rate. Supporting the Phillips curve of an inverse nexus between inflation rate and unemployment rate. The findings contravene Okun’s law of a negative relationship between economic growth and unemployment rate. The study recommences a policy framework to influence the operational and business activities of financial institutions to stir employment generation and economic growth in Nigeria.

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Research in World Economy
ISSN 1923-3981(Print)ISSN 1923-399X(Online)


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