Misery and Economic Growth Nexus in Nigeria; Implications for Electrical Energy Management
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Abstract
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At first glance, misery seems unquantifiable but has been established to be an
aggregation of unemployment and inflation. Nigeria is in a pitiable condition as she is ranked
the 6th most miserable country in the world. This study aims to ascertain the effect of
economic growth on Misery in Nigeria, that is, to determine whether economic growth rate
has strengthened or weakened the misery of Nigerians. This study adopts Autoregressive
Distributed Lag (ARDL) model because it considers policy lags of economic phenomena and
allows combined order of integrations. The study finds an inverse nexus between economic
growth and misery. Hence, recommendations were made in form of measures to ensure the
need for economic growth to increase at faster and higher pace to combat high misery levels in
Nigeria.
Keywords
HB Economic Theory