Publication:
Macroeconomic Risk Management in Nigeria : Dealing with External Shocks

dc.contributor.author Montenegro, Santiago
dc.contributor.author Claessens, Constantjin
dc.contributor.author Gooptu, Sudarshan
dc.contributor.author Imran, Mudassar
dc.contributor.author Powell, Andrew
dc.date.accessioned 2012-08-13T10:06:37Z
dc.date.available 2012-08-13T10:06:37Z
dc.date.issued 1995-01
dc.description.abstract The Nigerian economy is highly dependent on a number of external variables beyond the control of policymakers and domestic agents. Most important among those variables is the price of oil, which is highly uncertain and determined in fluctuating international markets. With oil accounting for more than 90 percent of Nigeria's exports, 25 percent of its GDP, and 80 percent of its public revenue, a fairly small price change can have a significant impact. Largely because of changing oil prices, total exports value increased tremendously between 1972 and 1980, and then dueto a drop in world oil prices Nigerian exports value dropped back to near 1972 levels in 1986. Clearly this reliance on oil production for income generation has serious implications for its economic policy management. At present, Nigeria faces serious economic problems. To return to a path of sustainable growth and of poverty reduction, the country must address a number of critical issues, including promoting fiscal transparency and fiscal discipline, and returning to market-determined exchange and interest rates. But managing the exposure to oil revenues and external debt will also be important in establishing the foundations for the sustainability of such policies, once they are adopted. en
dc.identifier http://documents.worldbank.org/curated/en/1995/01/1615054/macroeconomic-risk-management-nigeria-dealing-external-shocks
dc.identifier.uri http://hdl.handle.net/10986/10003
dc.language English
dc.publisher World Bank, Washington, DC
dc.relation.ispartofseries Africa Region Findings & Good Practice Infobriefs; No. 30
dc.rights CC BY 3.0 IGO
dc.rights.holder World Bank
dc.rights.uri http://creativecommons.org/licenses/by/3.0/igo/
dc.subject BORROWING
dc.subject BUDGET DEFICITS
dc.subject CAPITAL MARKETS
dc.subject CREDITWORTHINESS
dc.subject CYCLICAL VARIATIONS
dc.subject DEBT
dc.subject DEBT SERVICE
dc.subject EXCHANGE RATE
dc.subject EXCHANGE RATES
dc.subject EXPENDITURES
dc.subject EXPORTS
dc.subject EXTRACTION
dc.subject FINANCIAL MARKETS
dc.subject FOREIGN EXCHANGE
dc.subject FOREIGN EXCHANGE RESERVES
dc.subject GROSS DOMESTIC PRODUCT
dc.subject HIGH OIL PRICES
dc.subject INCOME
dc.subject INFLATION
dc.subject INSURANCE
dc.subject INTEREST RATES
dc.subject INTERNATIONAL RESERVES
dc.subject MANDATES
dc.subject MATURITIES
dc.subject OIL
dc.subject OIL
dc.subject OIL COMPANIES
dc.subject OIL INDUSTRY
dc.subject OIL PRICE
dc.subject OIL PRICES
dc.subject OIL PRODUCTION
dc.subject OIL RESERVES
dc.subject OIL SECTOR
dc.subject OIL SHOCKS
dc.subject PRICE CHANGES
dc.subject PRIVATE SECTOR
dc.subject PUBLIC EXPENDITURE
dc.subject PUBLIC OWNERSHIP
dc.subject PUBLIC REVENUES
dc.subject RISK MANAGEMENT
dc.subject SAVINGS
dc.subject STRUCTURAL ADJUSTMENT
dc.subject TAXATION
dc.subject TREASURY
dc.subject WAGES RISK MANAGEMENT
dc.subject PETROLEUM EXPORTS
dc.subject HEDGING
dc.subject EXTERNAL SHOCKS
dc.subject PETROLEUM PRICES
dc.subject PRICE STABILIZATION
dc.subject PUBLIC EXPENDITURES
dc.subject PRIVATE INVESTMENTS
dc.subject REVENUE VOLATILITY
dc.subject STABILIZATION FUNDS
dc.subject STABILIZATION PROGRAMS
dc.title Macroeconomic Risk Management in Nigeria : Dealing with External Shocks en
dc.title.alternative Gestion du risque macro-economique au Nigeria : comment controler les chocs exterieurs en
dspace.entity.type Publication
okr.crosscuttingsolutionarea Jobs
okr.date.disclosure 2001-12-11
okr.doctype Publications & Research :: Brief
okr.doctype Publications & Research
okr.docurl http://documents.worldbank.org/curated/en/1995/01/1615054/macroeconomic-risk-management-nigeria-dealing-external-shocks
okr.globalpractice Environment and Natural Resources
okr.globalpractice Finance and Markets
okr.globalpractice Governance
okr.globalpractice Trade and Competitiveness
okr.globalpractice Energy and Extractives
okr.identifier.externaldocumentum 000094946_01110704111626
okr.identifier.internaldocumentum 1615054
okr.identifier.report 23098
okr.language.supported en
okr.pdfurl http://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2001/12/11/000094946_01110704111626/Rendered/PDF/multi0page.pdf en
okr.region.administrative Africa
okr.region.country Nigeria
okr.sector Other Public Sector Management
okr.sector Public Administration, Law, and Justice
okr.topic Public Sector Economics
okr.topic Banks and Banking Reform
okr.topic Energy :: Energy Demand
okr.topic Oil Refining and Gas Industry
okr.topic Environmental Economics and Policies
okr.topic Finance and Financial Sector Development
okr.topic Industry
okr.topic Public Sector Development
okr.topic Environment
okr.unit AFT: Core Operations Services (AFTOS)
okr.volume 1 of 1
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