Research Article

Socio-Economic Structure and An Empirical Application on the Unemployment-Economic Growth Nexus: The Case of Denmark

Number: 64 June 30, 2024
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Socio-Economic Structure and An Empirical Application on the Unemployment-Economic Growth Nexus: The Case of Denmark

Abstract

Macroeconomic indicators are the basic indicators that reveal the economic performance of a country. Economic growth and unemployment status are among the most important macroeconomic indicators that show the economic performance of countries. While economic growth is among the priority targets of every country, unemployment is among the most significant problems faced by countries as it negatively affects individuals and the society economically, socially and psychologically. Denmark is a highly developed country with a high standard of living and well-being. Therefore, the aim of this study is to reveal the socio-economic performance of Denmark by examining the socio-economic structure with various macroeconomic indicators, and then to analyze empirically the relationship between unemployment and economic growth. In the study, which takes into account the period 1980-2021, Granger causality analysis was applied to test the causal relationship between the variables, and then regression analysis was performed with the least squares method. Empirical findings obtained from Granger causality analysis showed that there is a bidirectional causality relationship between unemployment and economic growth. Besides, according to the results obtained from the regression analysis performed with the least squares method, a 1% increase in economic growth in Denmark reduces unemployment by 6.32%.

Keywords

References

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Details

Primary Language

English

Subjects

Economic Sociology

Journal Section

Research Article

Publication Date

June 30, 2024

Submission Date

February 12, 2024

Acceptance Date

May 13, 2024

Published in Issue

Year 2024 Number: 64

APA
Suluk, S. (2024). Socio-Economic Structure and An Empirical Application on the Unemployment-Economic Growth Nexus: The Case of Denmark. Yüzüncü Yıl Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, 64, 120-140. https://doi.org/10.53568/yyusbed.1435978
AMA
1.Suluk S. Socio-Economic Structure and An Empirical Application on the Unemployment-Economic Growth Nexus: The Case of Denmark. Yüzüncü Yıl Üniversitesi Sosyal Bilimler Enstitüsü Dergisi. 2024;(64):120-140. doi:10.53568/yyusbed.1435978
Chicago
Suluk, Seher. 2024. “Socio-Economic Structure and An Empirical Application on the Unemployment-Economic Growth Nexus: The Case of Denmark”. Yüzüncü Yıl Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, nos. 64: 120-40. https://doi.org/10.53568/yyusbed.1435978.
EndNote
Suluk S (June 1, 2024) Socio-Economic Structure and An Empirical Application on the Unemployment-Economic Growth Nexus: The Case of Denmark. Yüzüncü Yıl Üniversitesi Sosyal Bilimler Enstitüsü Dergisi 64 120–140.
IEEE
[1]S. Suluk, “Socio-Economic Structure and An Empirical Application on the Unemployment-Economic Growth Nexus: The Case of Denmark”, Yüzüncü Yıl Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, no. 64, pp. 120–140, June 2024, doi: 10.53568/yyusbed.1435978.
ISNAD
Suluk, Seher. “Socio-Economic Structure and An Empirical Application on the Unemployment-Economic Growth Nexus: The Case of Denmark”. Yüzüncü Yıl Üniversitesi Sosyal Bilimler Enstitüsü Dergisi. 64 (June 1, 2024): 120-140. https://doi.org/10.53568/yyusbed.1435978.
JAMA
1.Suluk S. Socio-Economic Structure and An Empirical Application on the Unemployment-Economic Growth Nexus: The Case of Denmark. Yüzüncü Yıl Üniversitesi Sosyal Bilimler Enstitüsü Dergisi. 2024;:120–140.
MLA
Suluk, Seher. “Socio-Economic Structure and An Empirical Application on the Unemployment-Economic Growth Nexus: The Case of Denmark”. Yüzüncü Yıl Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, no. 64, June 2024, pp. 120-4, doi:10.53568/yyusbed.1435978.
Vancouver
1.Seher Suluk. Socio-Economic Structure and An Empirical Application on the Unemployment-Economic Growth Nexus: The Case of Denmark. Yüzüncü Yıl Üniversitesi Sosyal Bilimler Enstitüsü Dergisi. 2024 Jun. 1;(64):120-4. doi:10.53568/yyusbed.1435978

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