International records / OpenAlex research

Macroeconomic Determinants of Unemployment in Nigeria (1973-2023): An ARDL Bounds Testing Approach

This study examined the long-run and short-run relationships between unemployment and key macroeconomic variables: Gross Domestic Product (GDP), Foreign Direct Investment (FDI), Money Supply (M2), Lending Rate (LR), and Population Growth (PG) in Nigeria. Using the Autoregressive Distributed Lag (ARDL) model, the study found a significant long-term equilibrium relationship among the variables, confirmed by the bounds test results. The error correction term (CointEq) was statistically significant and negative, indicating the presence of a long-run relationship with a speed of adjustment of appro…