An empirical analysis of the sacrifice ratio in nigeria
Table Of Contents
Chapter ONE
1.1 Introduction1.2 Background of study
1.3 Problem Statement
1.4 Objective of study
1.5 Limitation of study
1.6 Scope of study
1.7 Significance of study
1.8 Structure of the research
1.9 Definition of terms
Chapter TWO
2.1 Overview of Sacrifice Ratio2.2 Historical Perspectives
2.3 Theoretical Frameworks
2.4 Empirical Studies on Sacrifice Ratio
2.5 Factors Influencing Sacrifice Ratio
2.6 Measurement and Calculation Methods
2.7 Criticisms and Debates
2.8 Global Comparison of Sacrifice Ratios
2.9 Impact of Sacrifice Ratio on Economic Policies
2.10 Future Trends and Research Directions
Chapter THREE
3.1 Research Design3.2 Research Approach
3.3 Data Collection Methods
3.4 Sampling Techniques
3.5 Data Analysis Procedures
3.6 Validity and Reliability
3.7 Ethical Considerations
3.8 Limitations of Methodology
Chapter FOUR
4.1 Overview of Findings4.2 Analysis of Sacrifice Ratios in Nigeria
4.3 Comparison with Global Trends
4.4 Impact of Sacrifice Ratio on Nigerian Economy
4.5 Policy Implications
4.6 Recommendations for Policy Makers
4.7 Future Research Directions
4.8 Conclusion and Discussion
Chapter FIVE
5.1 Summary of Findings5.2 Conclusions Drawn
5.3 Implications of the Study
5.4 Contributions to Existing Literature
5.5 Recommendations for Future Research
5.6 Conclusion and Final Remarks
Project Abstract
The study empirically analyzed the sacrifice ratio in Nigeria for the period 1970-2013, using the Instrumental Variables Generalized Method of Moments (IV-GMM) technique. The results revealed that inflation inertia has a significant negative impact on the actual rate of inflation in Nigeria. It was also revealed that the percentage of a year’s real GDP that must be forgone to reduce inflation by 1 percentage point in Nigeria is 5.1. In 1982, 53.55 percent of the GDP was sacrificed. Equivalently, a sacrifice of 26.58 percentage points of cyclical unemployment was made in the same year; while the highest percentage of GDP was sacrificed in 1990 and the lowest in 2007. Based on the findings, the study recommends that the plan to reduce inflation rate, and the rate of reduction should be publicly announced. This will go a long way to reducing personal expectations formed by workers and firms that determine the wages and prices.
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