An investigation of international economic policies and their social impacts: A case study of trade liberalization in Abuja
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- NGN 5000
Background of the Study
International economic policies, particularly trade liberalization, have transformative social and economic impacts on nations. In Abuja, the opening up of markets through trade liberalization has spurred economic growth, increased consumer access to goods, and reshaped labor markets (Okafor, 2023). By reducing tariffs and non-tariff barriers, trade liberalization facilitates the free flow of goods and services, attracting foreign investment and fostering competitive domestic industries. However, while these policies contribute to overall economic development, they can also lead to social disruptions such as job displacement, income inequality, and challenges to local industries. The interplay between economic policy and social outcomes is complex; the benefits of increased market efficiency must be balanced against the potential for adverse social consequences (Adeleke, 2024). This study investigates how trade liberalization in Abuja affects social structures, focusing on employment, income distribution, and access to essential services. It aims to provide a nuanced analysis of the benefits and challenges associated with economic openness, drawing on both quantitative and qualitative data (Bello, 2025).
Statement of the problem
Although trade liberalization policies are credited with driving economic growth in Abuja, their social impacts are often unevenly distributed. The liberalization process can result in job losses in traditional sectors and exacerbate income disparities, undermining social cohesion. Inadequate support systems and policy adjustments to mitigate these effects further compound the issue. This study seeks to identify and evaluate the social challenges arising from trade liberalization, proposing policy recommendations that balance economic gains with social stability (Okafor, 2023; Adeleke, 2024).
Objectives of the Study
To examine the social impacts of trade liberalization in Abuja.
To identify the challenges associated with income inequality and job displacement.
To propose strategies to mitigate adverse social consequences.
Research questions
How does trade liberalization affect social structures in Abuja?
What are the key social challenges associated with economic openness?
What policy measures can alleviate the negative social impacts of trade liberalization?
Significance of the Study
This study is significant as it explores the intersection of international economic policies and social outcomes. The findings will aid policymakers in designing inclusive trade policies that foster economic growth while ensuring social equity in Abuja (Bello, 2025).
Scope and Limitations of the Study
The study is limited to examining the social impacts of trade liberalization in Abuja. It does not address the broader macroeconomic effects of international economic policies in other regions.
Definitions of terms
Trade liberalization: The removal or reduction of trade barriers to facilitate international commerce.
Social impacts: The effects of economic policies on societal well-being, including employment and income distribution.
Economic policies: Strategies and regulations adopted by governments to manage economic activities.
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