THE PHILLIPS CURVE: A CASE FOR NIGERIA (A DEVELOPING COUNTRY)
Goluwa, Shadrack Ezekiel; Jimmy, Vincent Gambo & Nanfa, Nimvyap
Department of Economics
Plateau State University, Bokkos
Email: vincentgambo@gmail.com
ABSTRACT
This paper looks at the Phillips curve: a case for Nigeria (a developing country). To achieve this, a method was used to collect time series data on inflation and unemployment in the Nigerian economy from 1985 to 2019. The Ordinary Least Square method was used to analyze the data. The study discovered that there is a negative relationship between inflation and unemployment in the Nigerian economy. The obvious implication of this discovery was that the validity of the Phillips curve was established showing that a negative relationship exists between unemployment and inflation in the Nigerian economy which implies that inflation and unemployment both rise or fall at the same time.
