Examining the Effects of Oil Price Shocks on Unemployment in South Africa and Nigeria
| dc.contributor.author | Nomarola, Nolundi Felicity | |
| dc.date.accessioned | 2025-08-18T08:44:41Z | |
| dc.date.issued | 2024 | |
| dc.description | A research report submitted in fulfillment of the requirements for the Master of Commerce, In the Faculty of Commerce, Law and Management, School of Economics and Finance, University of the Witwatersrand, Johannesburg, 2024 | |
| dc.description.abstract | This study investigates the impact of oil price shocks on unemployment dynamics in South Africa and Nigeria, two major economies in Africa with significant oil sectors. The relationship between oil price fluctuations and unemployment is analysed using time- series data spanning from 1976 to 2021, employing the Autoregressive-distributed lag (ARDL) and the Nonlinear ARDL models. The ARDL model in South Africa shows a significant long-term increase in unemployment due to increased oil prices, while in Nigeria, it indicates a negative relationship. In the short run, in South Africa oil price shocks have an insignificant effect, while in Nigeria, they have a significant negative impact. The NARDL model also reveals asymmetrical effects. The NARDL model revealed asymmetrical long-run and short-run effects. In South Africa, the magnitude of the impact of increasing oil prices on unemployment is larger than of falling oil prices in both the short-run and long-run, while for Nigeria, falling prices have a larger magnitude. | |
| dc.description.submitter | MM2025 | |
| dc.faculty | Faculty of Commerce, Law and Management | |
| dc.identifier.citation | Nomarola, Nolundi Felicity . (2024). Examining the Effects of Oil Price Shocks on Unemployment in South Africa and Nigeria [Master`s dissertation, University of the Witwatersrand, Johannesburg]. WIReDSpace. School of Economics and Finance | |
| dc.identifier.uri | https://hdl.handle.net/10539/45945 | |
| dc.language.iso | en | |
| dc.publisher | University of the Witwatersrand, Johannesburg | |
| dc.rights | © 2024 University of the Witwatersrand, Johannesburg. All rights reserved. The copyright in this work vests in the University of the Witwatersrand, Johannesburg. No part of this work may be reproduced or transmitted in any form or by any means, without the prior written permission of University of the Witwatersrand, Johannesburg. | |
| dc.rights.holder | University of the Witwatersrand, Johannesburg | |
| dc.school | School of Economics and Finance | |
| dc.subject | UCTD | |
| dc.subject | unemployment | |
| dc.subject | oil price shocks | |
| dc.subject | South Africa | |
| dc.subject | Nigeria | |
| dc.subject | autoregressive-distributed lag (ARDL) model | |
| dc.subject | cointegration | |
| dc.subject.primarysdg | SDG-8: Decent work and economic growth | |
| dc.title | Examining the Effects of Oil Price Shocks on Unemployment in South Africa and Nigeria | |
| dc.type | Dissertation |