Author

  • ONAKOYA, Adegbemi Babatunde

    • Department of Economics, Babcock University Ilishan-Remo, Nigeria
    • Nigeria

  • SEYINGBO, Adedotun Victor

    • Department of Economics, Tai Solarin University of Education, Ijagun, Nigeria
    • Nigeria

Abstract

Okun’s law in its original form was predicated on the experience in the United States of America. Some methodological refinements have been added based on studies conducted in other climes with varied results. This research investigated the applicability of this law in Nigeria, South Africa and the United States of America. The study conducted a comparative analysis of three of the versions of the law. The research employed Ordinary Least Squares method having validated it’s appropriateness with Dickey-Fuller and Philips-Perron tests. The result also showed that the dynamic version of the law was applicable in the three nations while the difference version was applicable only in Nigeria. This study also found that the dynamic version was superior to the difference version. Deployment of employment creative employment schemes, labour market reform and economic restructuring are recommended in the Nigerian case. The policy makers on South Africa and USA are enjoined to pursue both labour and growth-inducing policies.

Keywords

References

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How to Cite

ONAKOYA, A. B., & SEYINGBO, A. V. (2020). Economic Growth and Unemployment Nexus: Okun’s Two-Version Case for Nigeria, South Africa and United States of America. Journal of Economics and Behavioral Studies, 12(1(J), 55-65. https://doi.org/10.22610/jebs.v12i1(J).3006

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Research Paper

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Vol. 12 No. 1(J) (2020) Technology, Governance & African Growth View issue contents

Published

2020-04-10

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