The impact of minimum wage fluctuation on growth of Nigerian economy Department: Economics By: clems0123 Project ID: 328 Rating: (3.6) votes: 202Rate this project12345 Price:₦1000 Get the Complete MaterialAbstractThis research work investigates the impact of minimum wage fluctuation on growth of Nigeria economy. Determinants of labour market in Nigeria arising from the economic transformation in recent years, and how public policy affects in particular labour market outcomes. The result has shown that increase in minimum wage increase by l unit (1 million), increase real gross domestic product by 0.038million. Similarly, an increase composite consumer price index in by 1 unit (1 million) reduced RGDP by -55.063 (million) Increase in per capital income by I unit (1 million) increase RGDP by 4788.060million. Also, increase in labour forces by 1 unit (1 million) reduced RGDP by 0.005million while increase in inflation rate by 1 unit (1 million) reduced RGDP by 0.035. This is in conformity with the theoretical expectation, since it believes that increase in minimum wages and per capita income supposed to increase the real gross domestic product of the country. And that, per capital income is the most significant. This would propel the economy to higher levels of productivity. There is need for government to create an enabling environment which would encourage heavy investment in infrastructural foundation that can enhance labour productivity and induce growth....Preview Download Preview +Other Economics project topics and materials you might be interested in»The impact of industrialization on Nigeria's economic development»The impact of minimum wage fluctuation on growth of Nigerian economy»Population growth and economic development in Nigeria (1981-2011)»The impact of population growth on the Nigerian economy (1980-2010)»The impact of petroleum subsidy on the consumption of petroleum products in Nigeria»The impact of small and medium scale industries on the economic growth of Nigeria (1986 – 2010)»The impact of industrial output on the economy of Nigeria (1980-2010)»The growth of Nigerian economy and unemployment (1980-2010)»The effect of external debt on economic growth of Nigeria»Impact of government expenditure on Nigerian economic growth (1981 – 2010)»Poverty and the Nigerian economy»An assessment on the impact of industrialization on economic growth in Nigeria»The impact of external debt on Nigeria economy (1985-2011)»Inequality and taxation in Nigeria (1980-2010)»The impact of bank lending on the growth of small and medium business in Osun State