Nigeria's Growth Record: Dutch Disease Or Debt Overhang ?
Nigeria's oil boom has not brought an end to perennial stagnation in the non-oil economy. Is this the unavoidable consequence of the resource boom or have misguided policies contributed? This paper indicates that the extreme volatility of expenditure rather than Dutch Disease effects are behind...
Gespeichert in:
| 1. Verfasser: | |
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Washington, D.C
The World Bank
2007
|
| Schlagworte: | |
| Online-Zugang: | BSB01 EUV01 HTW01 FHI01 IOS01 Volltext |
| Zusammenfassung: | Nigeria's oil boom has not brought an end to perennial stagnation in the non-oil economy. Is this the unavoidable consequence of the resource boom or have misguided policies contributed? This paper indicates that the extreme volatility of expenditure rather than Dutch Disease effects are behind the disappointing non-oil growth record. Fiscal policies failed to smooth highly volatile oil income; on the contrary government expenditure was more volatile than oil income. The authors provide econometric evidence showing that volatility of expenditure was increased by debt overhang problems. Moreover, they also find evidence of voracity effects that exacerbated expenditure volatility prior to 1984 |
| Beschreibung: | 1 Online-Ressource (32 Seiten)) |
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| spelling | van Wijnbergen, Sweder Verfasser aut Nigeria's Growth Record Dutch Disease Or Debt Overhang ? van Wijnbergen, Sweder Washington, D.C The World Bank 2007 1 Online-Ressource (32 Seiten)) txt rdacontent c rdamedia cr rdacarrier Nigeria's oil boom has not brought an end to perennial stagnation in the non-oil economy. Is this the unavoidable consequence of the resource boom or have misguided policies contributed? This paper indicates that the extreme volatility of expenditure rather than Dutch Disease effects are behind the disappointing non-oil growth record. Fiscal policies failed to smooth highly volatile oil income; on the contrary government expenditure was more volatile than oil income. The authors provide econometric evidence showing that volatility of expenditure was increased by debt overhang problems. Moreover, they also find evidence of voracity effects that exacerbated expenditure volatility prior to 1984 Online-Ausg Access to Finance Bank Policy Commodity prices Debt Debt Markets Debt Overhang Economic Theory and Research Emerging Markets Expenditure Exporters Finance and Financial Sector Development Fiscal policies Government expenditure Macroeconomic policies Macroeconomics and Economic Growth Oil boom Private Sector Development Public Sector Expenditure Analysis and Management Pang, Gaobo Sonstige oth Budina, Nina Sonstige oth van Wijnbergen, Sweder Sonstige oth van Wijnbergen, Sweder Nigeria's Growth Record http://elibrary.worldbank.org/content/workingpaper/10.1596/1813-9450-4256 Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | van Wijnbergen, Sweder Nigeria's Growth Record Dutch Disease Or Debt Overhang ? Access to Finance Bank Policy Commodity prices Debt Debt Markets Debt Overhang Economic Theory and Research Emerging Markets Expenditure Exporters Finance and Financial Sector Development Fiscal policies Government expenditure Macroeconomic policies Macroeconomics and Economic Growth Oil boom Private Sector Development Public Sector Expenditure Analysis and Management |
| title | Nigeria's Growth Record Dutch Disease Or Debt Overhang ? |
| title_auth | Nigeria's Growth Record Dutch Disease Or Debt Overhang ? |
| title_exact_search | Nigeria's Growth Record Dutch Disease Or Debt Overhang ? |
| title_exact_search_txtP | Nigeria's Growth Record Dutch Disease Or Debt Overhang ? |
| title_full | Nigeria's Growth Record Dutch Disease Or Debt Overhang ? van Wijnbergen, Sweder |
| title_fullStr | Nigeria's Growth Record Dutch Disease Or Debt Overhang ? van Wijnbergen, Sweder |
| title_full_unstemmed | Nigeria's Growth Record Dutch Disease Or Debt Overhang ? van Wijnbergen, Sweder |
| title_short | Nigeria's Growth Record |
| title_sort | nigeria s growth record dutch disease or debt overhang |
| title_sub | Dutch Disease Or Debt Overhang ? |
| topic | Access to Finance Bank Policy Commodity prices Debt Debt Markets Debt Overhang Economic Theory and Research Emerging Markets Expenditure Exporters Finance and Financial Sector Development Fiscal policies Government expenditure Macroeconomic policies Macroeconomics and Economic Growth Oil boom Private Sector Development Public Sector Expenditure Analysis and Management |
| topic_facet | Access to Finance Bank Policy Commodity prices Debt Debt Markets Debt Overhang Economic Theory and Research Emerging Markets Expenditure Exporters Finance and Financial Sector Development Fiscal policies Government expenditure Macroeconomic policies Macroeconomics and Economic Growth Oil boom Private Sector Development Public Sector Expenditure Analysis and Management |
| url | http://elibrary.worldbank.org/content/workingpaper/10.1596/1813-9450-4256 |
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