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The Economics of Growth Fragility in Nigeria

Author

Listed:
  • Perekunah B. Eregha

    (Pan-Atlantic University, Lekki-Lagos. Nigeria)

  • Vincent Olusegun

    (Pan-Atlantic University, Lekki-Lagos. Nigeria)

  • Emeka Osuji

    (Pan-Atlantic University, Lekki-Lagos. Nigeria)

Abstract

The Nigerian economy has been structurally defective with average GDP growth rate of 2.0% trailing population growth rate at approximately 3%. A country where budgetary preparation is based on exogenous oil price for revenue and running on a rising debt profile with little or no infrastructure to show. Consequently, this study unravels the domestic and foreign risks to growth fragility in Nigeria using descriptive analysis and inference from theoretical perspectives. We then conclude by proposing that government makes rigorous efforts to reposition the economy if the current state of fragile growth, high unemployment and declining social welfare conditions are to be changed.

Suggested Citation

  • Perekunah B. Eregha & Vincent Olusegun & Emeka Osuji, 2019. "The Economics of Growth Fragility in Nigeria," Research Africa Network Working Papers 19/061, Research Africa Network (RAN).
    • Handle: RePEc:abh:wpaper:19/061
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    References listed on IDEAS

    as
    1. Robert J. Barro, 1991. "Economic Growth in a Cross Section of Countries," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 106(2), pages 407-443.
    2. Corden, W M, 1984. "Booming Sector and Dutch Disease Economics: Survey and Consolidation," Oxford Economic Papers, Oxford University Press, vol. 36(3), pages 359-380, November.
    3. Frederick van der Ploeg, 2011. "Natural Resources: Curse or Blessing?," Journal of Economic Literature, American Economic Association, vol. 49(2), pages 366-420, June.
    4. Robert M. Solow, 1956. "A Contribution to the Theory of Economic Growth," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 70(1), pages 65-94.
    5. Stephen Knack & Philip Keefer, 1995. "Institutions And Economic Performance: Cross‐Country Tests Using Alternative Institutional Measures," Economics and Politics, Wiley Blackwell, vol. 7(3), pages 207-227, November.
    6. Daron Acemoglu & Simon Johnson & James A. Robinson, 2002. "Reversal of Fortune: Geography and Institutions in the Making of the Modern World Income Distribution," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 117(4), pages 1231-1294.
    7. Norman Gemmell, 2001. "Fiscal Policy in a Growth Framework," WIDER Working Paper Series DP2001-84, World Institute for Development Economic Research (UNU-WIDER).
    8. Eregha, P.B. & Mesagan, Ekundayo Peter, 2016. "Oil resource abundance, institutions and growth: Evidence from oil producing African countries," Journal of Policy Modeling, Elsevier, vol. 38(3), pages 603-619.
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    Cited by:

    1. Perekunah B. Eregha & Arcade Ndoricimpa, 2022. "Inflation, output growth and their uncertainties: some multivariate GARCH-M evidence for Nigeria," Journal of Social and Economic Development, Springer;Institute for Social and Economic Change, vol. 24(1), pages 197-210, June.

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    More about this item

    Keywords

    Growth Fragility; Domestic Risk Factors; Widening Fiscal Deficit; Descriptive Analysis.;
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