International records / OpenAlex research

Financial deepening and unemployment in Nigeria

This study thoroughly examined the impact of financial deepening on the unemployment rate in Nigeria from 1981 to 2023. Data on unemployment rate, private sector credit as a percentage of GDP, broad money supply as a percentage of GDP, and interest rate were sourced from Nigeria's apex bank. The Autoregressive Distributed Lag - ARDL method was used to analyze the short-term and long-term relationships among these variables. Results showed that in both short and long terms, private sector credit as a percentage of GDP has a negative and significant relationship with the unemployment rate in Nig…