The Impact of Brain Drain and Unemployment on Economic Growth in Nigeria

Abstract

Economic growth, which is the consistent rise in national income or output, which mostly entails an expansion of an economy's flow of goods and services—determines a country's capacity to withstand fierce competition on the international market. The main objective of this study is to examine the impact of brain drain and unemployment on economic growth in Nigeria. This study is anchored on neoclassical micro theory. This study examines the impact of brain drain and unemployment on economic growth in Nigeria by using the ordinary least square method. As regards the first objective, the study discovered that the major cause of brain drain in Nigeria is poor remuneration which is rampant in professions in Nigeria. Regarding the second objective, the study found out that brain drain is detrimental to the economic growth in Nigeria. As regards the third objective, the study found out that brain drain and unemployment hinders economic growth in Nigeria. The emigration of skilled professionals from Nigeria, poses a dangerous risk that can undermine the government's efforts to develop the country. This study would contribute to the wealth of literature by examining the moderating effect of unemployment on the nexus between brain drain and economic growth.