This study examines the prospects and challenges of productive employment and decent work in Nige... more This study examines the prospects and challenges of productive employment and decent work in Nigeria within essential macroeconomic policy targets. Premised on the dynamics of expanding labor market in Nigeria and by juxtaposing the labor market and macroeconomic policies in the country, the study examines the contradictions and challenges facing the realization of the goals of gainful and productive employment in Nigeria. By using a recursive structural Vector Autoregressive model, we find that increases in monetary policy rate (MPR) to cut down on inflation have a depressing impact on the economy. The result of this study does not support the assertion that a tight monetary policy coupled with a contractionary fiscal policy will engender natural rate of growth of the Nigerian economy. This is contrary to persuasive monetary policy advice for inflation targeting pursued by central banks and the International Monetary Fund (IMF).
The study suggests that a more flexible inflation rate, increased money supply, access to credit and a modest but upward adjustment to capital and recurrent expenditure have greater potential in accelerating GDP growth and for the attainment of full employment and poverty reduction in Nigeria. Economic activities leading to expansionary trends in GDP growth and the growth rate of credit and money supply pose no unenthusiastic challenge on inflation. Rather, such activities can only be a boost to the labor market in Nigeria.
This study examines the prospects and challenges of productive employment and decent work in Nige... more This study examines the prospects and challenges of productive employment and decent work in Nigeria within essential macroeconomic policy targets. Premised on the dynamics of expanding labor market in Nigeria and by juxtaposing the labor market and macroeconomic policies in the country, the study examines the contradictions and challenges facing the realization of the goals of gainful and productive employment in Nigeria. By using a recursive structural Vector Autoregressive model, we find that increases in monetary policy rate (MPR) to cut down on inflation have a depressing impact on the economy. The result of this study does not support the assertion that a tight monetary policy coupled with a contractionary fiscal policy will engender natural rate of growth of the Nigerian economy. This is contrary to persuasive monetary policy advice for inflation targeting pursued by central banks and the International Monetary Fund (IMF).
The study suggests that a more flexible inflation rate, increased money supply, access to credit and a modest but upward adjustment to capital and recurrent expenditure have greater potential in accelerating GDP growth and for the attainment of full employment and poverty reduction in Nigeria. Economic activities leading to expansionary trends in GDP growth and the growth rate of credit and money supply pose no unenthusiastic challenge on inflation. Rather, such activities can only be a boost to the labor market in Nigeria.
Employment Policy Department Knowledge-Sharing Workshop: Pro-employment macroeconomic frameworks,... more Employment Policy Department Knowledge-Sharing Workshop: Pro-employment macroeconomic frameworks, sectoral strategies for employment creation and the informal economy
The Employment Policy Department’s 2011 annual retreat took place between the 20th and 23rd of September at the ILO premises in Geneva. Opened to ILO staff outside the Department, its goal was to share knowledge on progress made in five key work areas of the department: pro-employment macroeconomic frameworks, youth employment, sectoral strategies for employment creation, national employment policy formulation and research frontiers on the informal economy. A total of approximately 60 participants, representing the ILO (HQ and field) and external experts were successful in conducting vibrant discussions in all five thematic areas. These and the knowledge generated during the retreat are summarized in the report. Key lessons emerge for improving the Employment Policy Department’s technical advisory services on employment, for translating research findings into policy advice and for improving collaboration between headquarters and field colleagues. Ideas and suggestions were generated both for future research and tool development and for the finalisation of this biennium’s global products: (1) the handbook on employment targeting (2) the national employment policy guide (3) the guide for employment impact assessment of infrastructure investments and (4) the resource guide on the informal economy.
This study examines the prospects and challenges of productive employment and decent work in Nige... more This study examines the prospects and challenges of productive employment and decent work in Nigeria within essential macroeconomic policy targets. Premised on the dynamics of expanding labor market in Nigeria and by juxtaposing the labor market and macroeconomic policies in the country, the study examines the contradictions and challenges facing the realization of the goals of gainful and productive employment in Nigeria. By using a recursive structural Vector Autoregressive model, we find that increases in monetary policy rate (MPR) to cut down on inflation have a depressing impact on the economy. The result of this study does not support the assertion that a tight monetary policy coupled with a contractionary fiscal policy will engender natural rate of growth of the Nigerian economy. This is contrary to persuasive monetary policy advice for inflation targeting pursued by central banks and the International Monetary Fund (IMF).
The study suggests that a more flexible inflation rate, increased money supply, access to credit and a modest but upward adjustment to capital and recurrent expenditure have greater potential in accelerating GDP growth and for the attainment of full employment and poverty reduction in Nigeria. Economic activities leading to expansionary trends in GDP growth and the growth rate of credit and money supply pose no unenthusiastic challenge on inflation. Rather, such activities can only be a boost to the labor market in Nigeria.
This study examines the prospects and challenges of productive employment and decent work in Nige... more This study examines the prospects and challenges of productive employment and decent work in Nigeria within essential macroeconomic policy targets. Premised on the dynamics of expanding labor market in Nigeria and by juxtaposing the labor market and macroeconomic policies in the country, the study examines the contradictions and challenges facing the realization of the goals of gainful and productive employment in Nigeria. By using a recursive structural Vector Autoregressive model, we find that increases in monetary policy rate (MPR) to cut down on inflation have a depressing impact on the economy. The result of this study does not support the assertion that a tight monetary policy coupled with a contractionary fiscal policy will engender natural rate of growth of the Nigerian economy. This is contrary to persuasive monetary policy advice for inflation targeting pursued by central banks and the International Monetary Fund (IMF).
The study suggests that a more flexible inflation rate, increased money supply, access to credit and a modest but upward adjustment to capital and recurrent expenditure have greater potential in accelerating GDP growth and for the attainment of full employment and poverty reduction in Nigeria. Economic activities leading to expansionary trends in GDP growth and the growth rate of credit and money supply pose no unenthusiastic challenge on inflation. Rather, such activities can only be a boost to the labor market in Nigeria.
Employment Policy Department Knowledge-Sharing Workshop: Pro-employment macroeconomic frameworks,... more Employment Policy Department Knowledge-Sharing Workshop: Pro-employment macroeconomic frameworks, sectoral strategies for employment creation and the informal economy
The Employment Policy Department’s 2011 annual retreat took place between the 20th and 23rd of September at the ILO premises in Geneva. Opened to ILO staff outside the Department, its goal was to share knowledge on progress made in five key work areas of the department: pro-employment macroeconomic frameworks, youth employment, sectoral strategies for employment creation, national employment policy formulation and research frontiers on the informal economy. A total of approximately 60 participants, representing the ILO (HQ and field) and external experts were successful in conducting vibrant discussions in all five thematic areas. These and the knowledge generated during the retreat are summarized in the report. Key lessons emerge for improving the Employment Policy Department’s technical advisory services on employment, for translating research findings into policy advice and for improving collaboration between headquarters and field colleagues. Ideas and suggestions were generated both for future research and tool development and for the finalisation of this biennium’s global products: (1) the handbook on employment targeting (2) the national employment policy guide (3) the guide for employment impact assessment of infrastructure investments and (4) the resource guide on the informal economy.
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The study suggests that a more flexible inflation rate, increased money supply, access to credit and a modest but upward adjustment to capital and recurrent expenditure have greater potential in accelerating GDP growth and for the attainment of full employment and poverty reduction in Nigeria. Economic activities leading to expansionary trends in GDP growth and the growth rate of credit and money supply pose no unenthusiastic challenge on inflation. Rather, such activities can only be a boost to the labor market in Nigeria.
The study suggests that a more flexible inflation rate, increased money supply, access to credit and a modest but upward adjustment to capital and recurrent expenditure have greater potential in accelerating GDP growth and for the attainment of full employment and poverty reduction in Nigeria. Economic activities leading to expansionary trends in GDP growth and the growth rate of credit and money supply pose no unenthusiastic challenge on inflation. Rather, such activities can only be a boost to the labor market in Nigeria.
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The Employment Policy Department’s 2011 annual retreat took place between the 20th and 23rd of September at the ILO premises in Geneva. Opened to ILO staff outside the Department, its goal was to share knowledge on progress made in five key work areas of the department: pro-employment macroeconomic frameworks, youth employment, sectoral strategies for employment creation, national employment policy formulation and research frontiers on the informal economy. A total of approximately 60 participants, representing the ILO (HQ and field) and external experts were successful in conducting vibrant discussions in all five thematic areas. These and the knowledge generated during the retreat are summarized in the report. Key lessons emerge for improving the Employment Policy Department’s technical advisory services on employment, for translating research findings into policy advice and for improving collaboration between headquarters and field colleagues. Ideas and suggestions were generated both for future research and tool development and for the finalisation of this biennium’s global products: (1) the handbook on employment targeting (2) the national employment policy guide (3) the guide for employment impact assessment of infrastructure investments and (4) the resource guide on the informal economy.
The study suggests that a more flexible inflation rate, increased money supply, access to credit and a modest but upward adjustment to capital and recurrent expenditure have greater potential in accelerating GDP growth and for the attainment of full employment and poverty reduction in Nigeria. Economic activities leading to expansionary trends in GDP growth and the growth rate of credit and money supply pose no unenthusiastic challenge on inflation. Rather, such activities can only be a boost to the labor market in Nigeria.
The study suggests that a more flexible inflation rate, increased money supply, access to credit and a modest but upward adjustment to capital and recurrent expenditure have greater potential in accelerating GDP growth and for the attainment of full employment and poverty reduction in Nigeria. Economic activities leading to expansionary trends in GDP growth and the growth rate of credit and money supply pose no unenthusiastic challenge on inflation. Rather, such activities can only be a boost to the labor market in Nigeria.
The Employment Policy Department’s 2011 annual retreat took place between the 20th and 23rd of September at the ILO premises in Geneva. Opened to ILO staff outside the Department, its goal was to share knowledge on progress made in five key work areas of the department: pro-employment macroeconomic frameworks, youth employment, sectoral strategies for employment creation, national employment policy formulation and research frontiers on the informal economy. A total of approximately 60 participants, representing the ILO (HQ and field) and external experts were successful in conducting vibrant discussions in all five thematic areas. These and the knowledge generated during the retreat are summarized in the report. Key lessons emerge for improving the Employment Policy Department’s technical advisory services on employment, for translating research findings into policy advice and for improving collaboration between headquarters and field colleagues. Ideas and suggestions were generated both for future research and tool development and for the finalisation of this biennium’s global products: (1) the handbook on employment targeting (2) the national employment policy guide (3) the guide for employment impact assessment of infrastructure investments and (4) the resource guide on the informal economy.