Weber Economics & Finance


November 2016, Vol. 2 (5), ISSN:2449-1662

© Author(s) 2016. This work is distributed under the Creative Commons Attribution 3.0 License.

Research Article

Relationship between Economic Growth and Unemployment: Analysis since 1991 to 2015

 

Accepted 31th October, 2016; Available Online 4th November, 2016.


Abstract:

In the years 90 `It began with the democratic process in Panama, considering that ended with the military dictatorship that prevailed since 1968. This rigid condition will remove the country competitiveness, which prevented the participation of the private sector in various economic activities, producing up to 16% unemployment, difficult situation begins to reverse more foreign investment, strengthening the service sector of the economy. The general objective was raised: To analyze the level of unemployment as a result of economic growth given from 1991 to 2015. The specific objectives: a) assess the level of unemployment as a result of the share of public investment in economic growth between 1991 and 2015 b) assess the conditions presented by the distortion of informal employment in the economy, c) Corroborating Okun's law, that is, the inverse relationship between the rate of real GDP and the unemployment rate from 1991 to 2015 were analyzed statistics jobs and wages section of Panama in figures, as well as series of national accounts series; with the deductive-quantitative method, and it includes analysis through simple correlations and multiple regressions of the variables. The results are used to make decisions concerning establishing macroeconomic policies, in order to reverse the increase in unemployment as a result of the economic slowdown experienced in 2016.

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