Macroeconomics and Monetary Economics
Abstract
This paper examined the effect of macroeconomic policies on unemployment and poverty
rates in Nigeria from 1980 to 2013 with implication to achieving inclusive growth. The inability of
macroeconomic policies in addressing the rising issues unemployment and poverty rates in Nigeria
despite the impressive economic growth experience over the last decades has increasingly called for
the need for the pursuance of inclusive growth to address the social issues of unemployment and poverty
rate. Previous studies have not considered the extent to which macroeconomic policies affects
unemployment and poverty rate in Nigeria, and the implication of this relationship to the attainment of
inclusive growth in Nigeria. The study adopts the Ordinary Least Square (OLS) technique. The study
observed that among macroeconomic policy variables only exchange rate significantly influenced
unemployment rate while only fiscal policy significantly influenced and poverty rate. This implies that
present macroeconomic policies in Nigeria do not guarantee the attainment of inclusive growth in
Nigeria. The contribution of the paper is that to achieve inclusive growth that guarantees high
employment and reduced poverty rate, there is the need for a re-examination of macroeconomic policy
management in Nigeria.
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