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Periodical article | Leiden University catalogue | WorldCat |
Title: | Unemployment and Inflation under Structural Adjustment: The Nigerian Experience |
Author: | Ekpo, Akpan H. |
Year: | 1992 |
Periodical: | Eastern Africa Economic Review |
Volume: | 8 |
Issue: | 2 |
Pages: | 102-113 |
Language: | English |
Geographic term: | Nigeria |
Subjects: | employment inflation economic policy Economics and Trade Labor and Employment |
Abstract: | Despite various stabilization and adjustment packages from 1978 to 1990, the Nigerian economy still experiences high rates of inflation and unemployment. The paper, using a Phillips relation approach, shows that government expansionary demand as well as supply-side policies have been ineffective in reducing inflation and unemployment in Nigeria. Major policy responses to arrest the inflationary spiral and unemployment problems are also discussed. Expected inflation seems to play a significant role in explaining the high rates of inflation. Time series analysis indicates that in the long-run, there was no trade-off between the rate of inflation and unemployment. Invariably, an appropriate policy mix is necessary if the economy is to grow towards full employment with a minimal rate of price increases. Bibliogr., sum. |