International records / OpenAlex research

An Assessment of the Impact of External Sector on Unemployment Rate in Nigeria

This study examines the impact of external sector changes on unemployment rate in Nigeria over the period 1988 to 2023. The independent variables include the real effective exchange rate, foreign direct investment, external debt, and the balance of payments, while the unemployment rate is used as the dependent variable. Data for the study were sourced from the World Bank and CBN. The study employed the Autoregressive Distributed Lag (ARDL) estimation technique to analyze both short-run and long-run relationships among the variables. Empirical findings revealed that foreign direct investment, t…