IDEAS home Printed from https://ideas.repec.org/a/vrs/mjsosc/v9y2018i3p71-78n7.html
   My bibliography  Save this article

State Intervention/Bailout and Economic Stabilisation in Nigeria: Some Lessons from the United States

Author

Listed:
  • Harry Deinibiteim Monimah
  • Madume Winston

    (Department of Public Administration, Port Harcourt Polytechnic, Rumuola, Port Harcourt, Nigeria)

Abstract

The study examined the nature of state intervention during economic and/or financial crisis, focusing on Nigeria and US. These two nations have embarked on various kinds of bailouts to stabilize their economies and move their nations on the path of economic recovery and growth. However, the bailout effort is more successful in the US than Nigeria. This is largely due to the approach adopted in these countries. Thus, the main objective of this paper is to ascertain the extent to which government invention has helped stabilize the Nigerian economy, when compared with the experience of the United States. The study revealed that in the US every state intervention/ bailout is approved by congress through legislation, therefore well-guided in its administration or execution, with specific time lines. On the other hand, in Nigeria bailouts are by “executive fiat”, as a result they suffer from poor execution. Hence, the paper concluded that state intervention/bailout in Nigeria has not been very successful because of the approach adopted by the government. The study recommended that subsequently, every bailout from the Nigerian government should be a product of an Act of Parliament, bailout schemes should have specific tools for measuring performance and be guided by specific lines, among others.

Suggested Citation

  • Harry Deinibiteim Monimah & Madume Winston, 2018. "State Intervention/Bailout and Economic Stabilisation in Nigeria: Some Lessons from the United States," Mediterranean Journal of Social Sciences, Sciendo, vol. 9(3), pages 71-78, May.
    • Handle: RePEc:vrs:mjsosc:v:9:y:2018:i:3:p:71-78:n:7
    DOI: 10.2478/mjss-2018-0049
    as

    Download full text from publisher

    File URL: https://doi.org/10.2478/mjss-2018-0049
    Download Restriction: no
    File URL: https://libkey.io/10.2478/mjss-2018-0049?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:vrs:mjsosc:v:9:y:2018:i:3:p:71-78:n:7. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Peter Golla (email available below). General contact details of provider: https://www.sciendo.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.