Globalization and Unemployment: Empirical Evidence from West African Sub-Region

Effiong, Ubong Edem; Udofia, Blessing; Okon, Joel Isaac

doi:10.14445/23939125/ijems-v7i10p103

Cited by 4 publications

(6 citation statements)

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“…Hence, we conclude that there is a positive and nonsignificant relationship between government capital expenditure and unemployment rate in Nigeria for the period reviewed. This positive relationship with unemployment agrees with the findings of Ozor et al (2016), Ejemezu et al (2021), and Ekong et al (2020. The nonsignificant effect disagrees with Enyoghasim et al (2022), Ojimadu and Ogu (2021), and Udeze et al (2020).…”

Section: Discussion Of Hypotheses Hypothesis 1 (H0)supporting

confidence: 88%

“…Thus, Keynes argued that demand management policies (fiscal and monetary) by the government will stimulate aggregate demand, investment and employment in the economy. Put differently, the expansion in the fiscal policy of the government will increase the investment level, employment generation, higher productivity and economic growth (Anaele & Nyenke, 2021;Ekong et al, 2020). Anaele and Nyenke (2021) examined the effect of fiscal policy on the misery index in Nigeria for the period 1981 to 2018.…”

Section: Theoretical Reviewmentioning

confidence: 99%

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Fiscal Policy and Unemployment Nexus in Nigeria: An Empirical Analysis (1990–2021)

R.C.,

S.N.,

O.C.

et al. 2024

African Journal of Accounting and Financial Research

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This study assessed the fiscal policy and unemployment nexus in Nigeria using time series data covering 1990 to 2021. Economic downturn, poor living standard, inadequate employment generation and increasing unemployment rate are sources of concern and worry. Job creation seems not to be getting the needed attention in the scheme of economic policies in Nigeria. The proxies for fiscal policy were: government capital expenditure (GCE), government revenue expenditure (GRE), government external debt (GED) and government total revenue (GTR), while that for unemployment was the unemployment rate. Specifically, this sought to examine the nexus between GCE and unemployment rate, GRE and unemployment rate, GED and unemployment rate, and GTR and unemployment rate. The ex-post-facto research design was used while the hypotheses were tested at 5% significance level. The time series data obtained from the Central Bank of Nigeria statistical bulletin was analyzed using the OLS technique. The test results showed that: GCE had a coefficient of 3.84 and a probability of 0.9893; GRE had -0.000481 coefficient and a probability of 0.6365; GED had 0.000584 coefficient and a probability of 0.1292 while GTR had 0.002070 coefficient and a probability of 0.0000. The probability f-statistic value of 0.000000 showed that proxies for fiscal policy are jointly significant to the unemployment rate. The adjusted R2 and Durbin-Watson values were 86% and 1.798125 respectively. It was recommended that the federal government should: (1) apply her capital expenditure properly and direct it to sectors that will help create more jobs and reduce unemployment rate, (2) make her recurrent expenditure to be supportive of the various government infrastructures, (3) drastically reduce her growing and high debt profile without commensurate job opportunities, (4) use her revenue to drive the economy instead of being applied on non-productive, white elephant projects or misappropriated.

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Section: Discussion Of Hypotheses Hypothesis 1 (H0)supporting

confidence: 88%

Section: Theoretical Reviewmentioning

confidence: 99%

Fiscal Policy and Unemployment Nexus in Nigeria: An Empirical Analysis (1990–2021)

R.C.,

S.N.,

O.C.

et al. 2024

African Journal of Accounting and Financial Research

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“…2. Impact of the credit volume provided to the private sector on the unemployment rate: The study (Effiong &., Ekpe, 2022) found a weak, and inverse relationship between private sector credit and the unemployment rate for the long term. In the short term, the relationship is positive but not important.…”

Section: Literature Reviewmentioning

confidence: 92%

“…This study found that the private sector has an essential role in achieving economic development and reducing unemployment levels. As well as a study (Effiong &., Ekpe, 2022) indicated that the private sector represents more than 90% of job opportunities in Nigeria. Also, the (Mahmud, & Tohopi, 2023) study was applied to the Indonesian economy.…”

Section: Literature Reviewmentioning

confidence: 99%

Corporate Profitability Impact on Unemployment Rate: Jordan as Case Study

Banikhalid

2024

IJBM

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This study aimed to find out the corporate profitability impact on unemployment. It is a case study of the Jordanian economy. The return on assets in Jordanian public shareholding companies was considered an indicator of corporate profitability. While the unemployment rate was considered as an indicator of unemployment. The result showed that all the Jordanian economic sectors recorded growth profitability throughout the years of study. Except the services sector in 2020. As for unemployment, throughout the years of study, the unemployment rate didn’t decrease below 11%, which is a very high rate. The study also found that corporate profitability has a statistically significant negative impact on the unemployment rate in Jordan. It means this increase in corporate profitability by 1% leads to a decrease in the unemployment rate by 1.1%.

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“…The issue of trade barriers is not a significant challenge in Nigeria as the country is increasingly pro-trade. To demonstrate its commitment to trade liberalization, Nigeria maintains membership with global trade organizations like the World Trade Organization (WTO), which encourages the country to relax trade barriers in order to accelerate foreign trade (Effiong & Okon, 2020). Furthermore, the country is a signatory to several liberal trade agreements with regional and international blocs such as the African Continental Free Trade Area (AfCFTA) and the Economic Community of West African States (ECOWAS), which promote ease of trade and economic integration for member states (Emehelu, 2021).…”

Section: Export Planningmentioning

confidence: 99%

Entry-Level Export Strategies in Developing African Countries

Eze,

James,

Inyang

et al. 2024

AJHCER

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Considering Nigeria as an economically and demographically viable target market, this study examined entry-level export strategies that could facilitate the expansion of foreign firms to the Nigerian market. It was necessitated by the intricacies experienced by foreign companies in obtaining credible information about the Nigerian market for internationalization decision-making. The study adopted a narrative literature review design, relying on experiential insights and secondary data obtained from government and industrial sources in Nigeria to obtain the information presented in the investigation. An in-depth content analysis method was used to analyze the secondary data obtained for the study. From its findings, it was revealed that Nigeria is a profoundly viable export destination for a wide variety of foreign products including consumer electronics, ICT accessories, fashion, cosmetics and smartphone accessories. Nevertheless, the country’s volatile economic condition poses substantial risks for foreign companies in terms of foreign currency fluctuations; but using an export strategy, these risks can be considerably mitigated. This indicates the need for careful and deliberate export planning before entry into Nigeria to ensure that exporters familiarize themselves with information and knowledge of the workings of the Nigerian market. To this end, we recommend that intending export companies should carefully select suitable market segments they can consistently serve; they should also ensure to obtain all necessary certifications and permits from key agencies like the Nigeria Customs Service (NCS), National Agency for Food and Drug Administration and Control (NAFDAC), and Standards Organization of Nigeria (SON) to ensure smooth operations; and in terms of export entry option, we recommend a hybrid approach (direct and indirect exportation), which avails companies the opportunity of using local expertise and network to achieve effective distribution while maintaining strong control over their products.

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Globalization and Unemployment: Empirical Evidence from West African Sub-Region

Cited by 4 publications

References 0 publications

Fiscal Policy and Unemployment Nexus in Nigeria: An Empirical Analysis (1990–2021)

Fiscal Policy and Unemployment Nexus in Nigeria: An Empirical Analysis (1990–2021)

Corporate Profitability Impact on Unemployment Rate: Jordan as Case Study

Entry-Level Export Strategies in Developing African Countries

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