THE EFFECT OF POPULATION DYNAMICS ON ECONOMIC GROWTH PERFORMANCE IN NIGERIA
Abstract
This study investigated the relationship between population dynamics (measured population growth rate) and economic growth in Nigeria, while controlling for the effect of unemployment rate, and infant mortality rate. Secondary data obtained from the Central Bank of Nigeria (CBN) Statistical Bulletin, World Bank World Development Indicator (WDI) and National Bureau of Statistics (NBS) Annual Abstracts were analyzed using time-series methods such as Augmented Dickey Fuller (ADF) unit root, bound co-integration, and autoregressive distributed lag (ARDL) methods. The study was able to verified that there is cointegrating relationship between population dynamics proxy and economic growth index using the bound test method. Findings from the use of the ARDL method indicated that population growth rate, unemployment rate, and infant mortality rate had insignificant impact on economic growth. The result showed that increasing levels of population growth rate and infant mortality rate are harmful to the Nigerian economy, as unemployment had positive relationship with economic growth. These results suggest that, fluctuating levels of total output in Nigeria is not due to population dynamics. On the basis of these findings, there is for government to put in place mechanism that will checkmate the growing level of population and address the soaring infant mortality rates. These can be achieved by providing quality healthcare facilities to aid safe birth and an aggressive campaign on family planning through the collaboration of the National Orientation Agency (NOA), non-profit organizations and civil society organizations (CSOs). Implement policies that will improve technological advancement and human capital development in Nigeria
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