Publication:
Nigeria's Growth Record : Dutch Disease or Debt Overhang?

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dc.contributor.authorBudina, Nina
dc.contributor.authorPang, Gaobo
dc.contributor.authorvan Wijnbergen, Sweder
dc.date.accessioned2012-06-07T17:32:21Z
dc.date.available2012-06-07T17:32:21Z
dc.date.issued2007-06
dc.description.abstractNigeria'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.en
dc.identifierhttp://documents.worldbank.org/curated/en/2007/06/7726727/nigerias-growth-record-dutch-disease-or-debt-overhang
dc.identifier.doi10.1596/1813-9450-4256
dc.identifier.urihttps://hdl.handle.net/10986/7418
dc.languageEnglish
dc.publisherWorld Bank, Washington, DC
dc.relation.ispartofseriesPolicy Research Working Paper; No. 4256
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectACCESS TO CAPITAL MARKETS
dc.subjectADVERSE IMPACT
dc.subjectAGGREGATE EXPENDITURE
dc.subjectAGRICULTURE
dc.subjectALLOCATION
dc.subjectANNUAL AVERAGE RATE
dc.subjectBENCHMARK
dc.subjectBENCHMARKS
dc.subjectBLACK MARKET
dc.subjectBUDGET PROCESS
dc.subjectCAPITAL ACCUMULATION
dc.subjectCAPITAL EXPENDITURE
dc.subjectCAPITAL INVESTMENT
dc.subjectCAPITAL MARKET
dc.subjectCAPITAL SPENDING
dc.subjectCASH FLOW
dc.subjectCENTRAL BANK
dc.subjectCOMMODITY PRICES
dc.subjectCONSUMERS
dc.subjectCOST RECOVERY
dc.subjectDEBT
dc.subjectDEBT BURDEN
dc.subjectDEBT CRISIS
dc.subjectDEBT RELIEF
dc.subjectDEBT SERVICE
dc.subjectDEFICIT FINANCING
dc.subjectDEVELOPMENT ECONOMICS
dc.subjectDOMESTIC BORROWING
dc.subjectDOMESTIC DEBT
dc.subjectECONOMETRICS
dc.subjectECONOMIC GROWTH
dc.subjectECONOMIC OUTLOOK
dc.subjectECONOMIC PERFORMANCE
dc.subjectECONOMIC STRUCTURE
dc.subjectENERGY PRICES
dc.subjectEXCHANGE RATE POLICY
dc.subjectEXCHANGE RATES
dc.subjectEXCHANGE RESERVES
dc.subjectEXPENDITURE
dc.subjectEXPENDITURE CUTS
dc.subjectEXPENDITURE GROWTH
dc.subjectEXPENDITURE PLANS
dc.subjectEXPENDITURES
dc.subjectEXPORTS
dc.subjectEXTERNAL BORROWING
dc.subjectEXTERNAL DEBT
dc.subjectEXTERNAL LOANS
dc.subjectFACTOR PRICES
dc.subjectFINANCIAL LIMITS
dc.subjectFINANCIAL MARKETS
dc.subjectFINANCIAL SECTOR
dc.subjectFISCAL BALANCE
dc.subjectFISCAL DEFICITS
dc.subjectFISCAL DISCIPLINE
dc.subjectFISCAL POLICIES
dc.subjectFISCAL POLICY
dc.subjectFISCAL REFORM
dc.subjectFISCAL REFORMS
dc.subjectFISCAL REVENUE
dc.subjectFISCAL RULE
dc.subjectFISCAL SAVINGS
dc.subjectFOREIGN EXCHANGE
dc.subjectFOREIGN EXCHANGE RESERVES
dc.subjectFOREIGN RESERVES
dc.subjectGDP
dc.subjectGDP PER CAPITA
dc.subjectGOVERNMENT CONSUMPTION
dc.subjectGOVERNMENT EXPENDITURE
dc.subjectGOVERNMENT EXPENDITURES
dc.subjectGOVERNMENT REVENUES
dc.subjectGOVERNMENT SPENDING
dc.subjectGROSS PUBLIC DEBT
dc.subjectINCOME
dc.subjectINDUSTRIALIZATION
dc.subjectINFLATION
dc.subjectINTEREST RATES
dc.subjectLICENSES
dc.subjectMACROECONOMIC INSTABILITY
dc.subjectMACROECONOMIC MANAGEMENT
dc.subjectMACROECONOMIC POLICIES
dc.subjectMARKET ACCESS
dc.subjectMARKET FAILURES
dc.subjectMARKET INFORMATION
dc.subjectMEDIUM TERM EXPENDITURE
dc.subjectMEDIUM TERM EXPENDITURE FRAMEWORK
dc.subjectMINISTRY OF FINANCE
dc.subjectNATURAL RESOURCES
dc.subjectNET PUBLIC DEBT
dc.subjectNOMINAL EXCHANGE RATE
dc.subjectOIL PRICES
dc.subjectOIL WINDFALLS
dc.subjectOVERVALUATION
dc.subjectPER CAPITA INCOME
dc.subjectPERMANENT INCOME
dc.subjectPRICE INCREASES
dc.subjectPRICE VOLATILITY
dc.subjectPRODUCTIVITY GROWTH
dc.subjectPUBLIC
dc.subjectPUBLIC BORROWING
dc.subjectPUBLIC CAPITAL
dc.subjectPUBLIC DEBT
dc.subjectPUBLIC EXPENDITURE
dc.subjectPUBLIC INVESTMENT
dc.subjectPUBLIC SECTOR
dc.subjectPUBLIC SECTOR DEBT
dc.subjectPUBLIC SECTOR EMPLOYMENT
dc.subjectPUBLIC SPENDING
dc.subjectREAL EXCHANGE RATE
dc.subjectRECURRENT EXPENDITURE
dc.subjectREFORM AGENDA
dc.subjectREFORM EFFORTS
dc.subjectREGULATORY AUTHORITY
dc.subjectRELATIVE PRICES
dc.subjectREVENUE MANAGEMENT
dc.subjectRISK PREMIUM
dc.subjectSOCIAL INDICATORS
dc.subjectSPREAD
dc.subjectSTATE EXPENDITURE
dc.subjectSTATE GOVERNMENTS
dc.subjectSUB-SAHARAN AFRICA
dc.subjectSURPLUS
dc.subjectSURPLUSES
dc.subjectTAX
dc.subjectTOTAL EXPENDITURE
dc.subjectTOTAL PUBLIC EXPENDITURE
dc.subjectTOTAL REVENUE
dc.subjectTOTAL SPENDING
dc.subjectTRANSPARENCY
dc.subjectUNEMPLOYMENT
dc.subjectUNEMPLOYMENT RATE
dc.subjectVOLATILITY
dc.subjectWAGES
dc.subjectWEALTH
dc.titleNigeria's Growth Record : Dutch Disease or Debt Overhang?en
dspace.entity.typePublication
okr.crossref.titleNigeria's Growth Record : Dutch Disease Or Debt Overhang ?
okr.date.doiregistration2025-04-10T07:23:18.344147Z
okr.doctypePublications & Research::Policy Research Working Paper
okr.doctypePublications & Research
okr.docurlhttp://documents.worldbank.org/curated/en/2007/06/7726727/nigerias-growth-record-dutch-disease-or-debt-overhang
okr.globalpracticeMacroeconomics and Fiscal Management
okr.globalpracticeGovernance
okr.globalpracticeFinance and Markets
okr.guid477041468314369520
okr.identifier.doi10.1596/1813-9450-4256
okr.identifier.externaldocumentum000016406_20070615145303
okr.identifier.internaldocumentum7726727
okr.identifier.reportWPS4256
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2007/06/15/000016406_20070615145303/Rendered/PDF/wps4256.pdfen
okr.region.administrativeAfrica
okr.region.countryNigeria
okr.topicEconomic Theory and Research
okr.topicMacroeconomics and Economic Growth::Markets and Market Access
okr.topicPublic Sector Expenditure Analysis and Management
okr.topicMacroeconomics and Economic Growth::Economic Stabilization
okr.topicPublic Sector Economics and Finance
okr.topicPublic Sector Development
okr.unitDevelopment Research Group (DECRG)
okr.volume1 of 1
relation.isSeriesOfPublication26e071dc-b0bf-409c-b982-df2970295c87
relation.isSeriesOfPublication.latestForDiscovery26e071dc-b0bf-409c-b982-df2970295c87
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