A Comparative Analysis of Innovative Automobile Policy on Employment in Nigeria and China

Submission Deadline-31st May 2024
May 2024 Issue : Publication Fee: 30$ USD Submit Now
Submission Open
Special Issue of Education: Publication Fee: 30$ USD Submit Now

International Journal of Research and Innovation in Social Science (IJRISS) | Volume V, Issue IX, September 2021 | ISSN 2454–6186

A Comparative Analysis of Innovative Automobile Policy on Employment in Nigeria and China

Ademuyiwa A. Lawal
School of Economics, Jilin University, Changchun, China

IJRISS Call for paper

Abstract- Understanding the impact of innovative automobile policies in job creation is becoming increasingly crucial in today’s world, since innovation can address a wide range of social and human issues, including food insecurity, hunger, poverty, and underdevelopment. This study investigates how corruption, a lack of research and development funding, and other factors contributed to Nigeria’s failure to implement car policies that would have transformed the country into an export-oriented and industrial powerhouse, not only in Africa but throughout the world. The paper is heavily reliant on secondary data sources. Most automobile policies in Nigeria are short-lived and inconsistent, compared to consistent long-term automobile policies in China, according to the findings. Apart from the National Automobile Development Plan of 2014, which has lasted to date with the hope of meeting 2025, its targeted expiration year, most automobile policies in Nigeria are short-lived and inconsistent. The study concludes that innovation is an effective policy instrument for ensuring employment generation. The report suggests, among other things, that automobile policies should be in place for at least 5 years, regardless of government changes. More funds should be allocated to research and development. Also, Policymakers must ensure that they are supporting innovation in other areas such as business models, services, and supply chains.

Keywords- Automobile Policy, Employment Creation, Innovation, Public Policy, Development.

I. INTRODUCTION

Not only does innovation have a rate, but it also has a direction (Mazzucato, 2018): This is indeed a time of change. Globally, innovation is taking place, which presents both opportunities and difficulties for governments and commercial firms alike. Innovation is a significant policy tool that can help the country achieve poverty reduction, food security, and dynamic rural development (Ajulor & Etim, 2019). Nations, both developed and developing are struggling to discover new growth engines that will allow them to attain and maintain high levels of economic and social development over time. The goal of social development is not to grow for the sake of growth but to accomplish a specific form of progress that moves in a specific direction and improves people’s standard and quality of life. Innovation policies can help direct investment in innovation toward solving the major challenges that countries face in this environment.