ARTICLE SUMMARY
| Title: | Growing, Domestic Debt, External Debt And Unemployment In Nigeria |
| Author(s): | John Norense Izevbigie & Roland Ighiwiyisi Irughe |
| Abstract: | Owing to continuous increase in domestic debt, external debt and unemployment rate in Nigeria, the impact domestic debt and external debt has on unemployment rate for the period 19812020 using ARDL methodology was examined. From the empirical analysis, it was found that domestic debt statistically and signifcantly engender reduction in unemployment rate while external debt increases unemployment rate over the long term period. The speed of adjustment in the event of temporary displacement from equilibrium is high (59 percent) while Causality test shows one way causation from domestic debt to unemployment rate? bidirectional causation was established between unemployment and domestic investment, foreign investment and unemployment, domestic investment and domestic debt, and between domestic investment and external debt. The test for structural stability shows that the model is structurally stable. Implications and option for policies were put forward in the light of the empirical findings. |
| Keywords: | Domestic Debt, External debt, Unemployment, Time Series Analysis, Nigeria. |