The Relationship between unemployment and economic growth in Sub-Saharan Africa: does natural resource wealth matter?
- Author
- Nyachiwowo, Pride.
- Title
- The Relationship between unemployment and economic growth in Sub-Saharan Africa: does natural resource wealth matter?
- Abstract
- Notably, the rising levels of unemployment rate in the abundance of natural resources make it more debatable in a scholary perspective. It is notable, there has been opposing theories about the relationship between unemployment unemployment and economic growth in Sub-Saharan Africa and does natural resource wealth matter in this relationship. Different theories and scholars gave different angles of understanding to the subject. This reaserch investigated on this relationship on a time frame of sixteen years from 2005-2020. The Fixed effects model ( FEM) was used to make a data analysis. The outcome from the FEM of the panel data analysis demonstrated the variables of main concern were statistically significant and the proved that there is an inverse relationship between unemployment and economic growth at 1%significance level and natural resources proved a positive impact on economic growth and negative a negative correlation with unemployment. A favorable relationship with savings, inflation labour force participation and a negative relationship with external debt stock was also obtained. However it was shown that labour force participation and inflation were insignificant to explain the variable gross domestic product (GDP) in SSA region in the model of this study. Natural resource adds on to economic growth in the SSA region therefore must be managed for sustainability. All the data used for the research is secondary data which was obtained from the World development Indicator (WDI)
- Date
- June 2023
- Publisher
- BUSE
- Keywords
- Economic growth,
- Sub-Saharan Africa,
- Natural resources.
- Supervisor
- Dr. T. Kairiza,
- Item sets
- Department of Economics
- Media
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Nyachiwowo, Pride..pdf