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

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dc.contributor.authorMontenegro, Santiago
dc.contributor.authorClaessens, Constantjin
dc.contributor.authorGooptu, Sudarshan
dc.contributor.authorImran, Mudassar
dc.contributor.authorPowell, Andrew
dc.date.accessioned2012-08-13T10:06:37Z
dc.date.available2012-08-13T10:06:37Z
dc.date.issued1995-01
dc.description.abstractThe 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.identifierhttp://documents.worldbank.org/curated/en/1995/01/1615054/macroeconomic-risk-management-nigeria-dealing-external-shocks
dc.identifier.doi10.1596/10003
dc.identifier.urihttps://hdl.handle.net/10986/10003
dc.languageEnglish
dc.publisherWorld Bank, Washington, DC
dc.relation.ispartofseriesAfrica Region Findings & Good Practice Infobriefs; No. 30
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectBORROWING
dc.subjectBUDGET DEFICITS
dc.subjectCAPITAL MARKETS
dc.subjectCREDITWORTHINESS
dc.subjectCYCLICAL VARIATIONS
dc.subjectDEBT
dc.subjectDEBT SERVICE
dc.subjectEXCHANGE RATE
dc.subjectEXCHANGE RATES
dc.subjectEXPENDITURES
dc.subjectEXPORTS
dc.subjectEXTRACTION
dc.subjectFINANCIAL MARKETS
dc.subjectFOREIGN EXCHANGE
dc.subjectFOREIGN EXCHANGE RESERVES
dc.subjectGROSS DOMESTIC PRODUCT
dc.subjectHIGH OIL PRICES
dc.subjectINCOME
dc.subjectINFLATION
dc.subjectINSURANCE
dc.subjectINTEREST RATES
dc.subjectINTERNATIONAL RESERVES
dc.subjectMANDATES
dc.subjectMATURITIES
dc.subjectOIL
dc.subjectOIL
dc.subjectOIL COMPANIES
dc.subjectOIL INDUSTRY
dc.subjectOIL PRICE
dc.subjectOIL PRICES
dc.subjectOIL PRODUCTION
dc.subjectOIL RESERVES
dc.subjectOIL SECTOR
dc.subjectOIL SHOCKS
dc.subjectPRICE CHANGES
dc.subjectPRIVATE SECTOR
dc.subjectPUBLIC EXPENDITURE
dc.subjectPUBLIC OWNERSHIP
dc.subjectPUBLIC REVENUES
dc.subjectRISK MANAGEMENT
dc.subjectSAVINGS
dc.subjectSTRUCTURAL ADJUSTMENT
dc.subjectTAXATION
dc.subjectTREASURY
dc.subjectWAGES RISK MANAGEMENT
dc.subjectPETROLEUM EXPORTS
dc.subjectHEDGING
dc.subjectEXTERNAL SHOCKS
dc.subjectPETROLEUM PRICES
dc.subjectPRICE STABILIZATION
dc.subjectPUBLIC EXPENDITURES
dc.subjectPRIVATE INVESTMENTS
dc.subjectREVENUE VOLATILITY
dc.subjectSTABILIZATION FUNDS
dc.subjectSTABILIZATION PROGRAMS
dc.titleMacroeconomic Risk Management in Nigeria : Dealing with External Shocksen
dc.title.alternativeGestion du risque macro-economique au Nigeria : comment controler les chocs exterieursen
dspace.entity.typePublication
okr.crosscuttingsolutionareaJobs
okr.date.disclosure2001-12-11
okr.date.doiregistration2025-04-29T10:01:01.818603Z
okr.doctypePublications & Research::Brief
okr.doctypePublications & Research
okr.docurlhttp://documents.worldbank.org/curated/en/1995/01/1615054/macroeconomic-risk-management-nigeria-dealing-external-shocks
okr.globalpracticeEnvironment and Natural Resources
okr.globalpracticeFinance and Markets
okr.globalpracticeGovernance
okr.globalpracticeTrade and Competitiveness
okr.globalpracticeEnergy and Extractives
okr.guid404961468147305307
okr.guid871461468065931505
okr.identifier.externaldocumentum000094946_01110704111626
okr.identifier.internaldocumentum1615054
okr.identifier.report23098
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2001/12/11/000094946_01110704111626/Rendered/PDF/multi0page.pdfen
okr.region.administrativeAfrica
okr.region.countryNigeria
okr.sectorOther Public Sector Management
okr.sectorPublic Administration, Law, and Justice
okr.topicPublic Sector Economics
okr.topicBanks and Banking Reform
okr.topicEnergy::Energy Demand
okr.topicOil Refining and Gas Industry
okr.topicEnvironmental Economics and Policies
okr.topicFinance and Financial Sector Development
okr.topicIndustry
okr.topicPublic Sector Development
okr.topicEnvironment
okr.unitAFT: Core Operations Services (AFTOS)
okr.volume1 of 1
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