Nigeria - Policy Options for Growth and Stability : Volume 1. Main Report

This report represents an effort to identify policy options for long-run growth and poverty reduction that are compatible with the high degree of macroeconomic volatility and challenging institutional realities faced by Nigerian policy makers. The...

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Main Author:	World Bank
Format:	General Economy, Macroeconomics and Growth Study
Language:	English en_US
Published:	Washington, DC 2013
Subjects:	ACCOUNT ACCOUNTS ADJUSTMENT POLICIES AGRICULTURAL OUTPUT AGRICULTURE ASSETS BASE YEAR CAPITAL ACCUMULATION CAPITAL FLIGHT CENTRAL BANK CITIES COAL CONSUMER PRICE INDEX CONSUMERS COUNTRY COMPARISON CPI CROSS-COUNTRY EXPERIENCE CURRENCY DEVALUATION DEVELOPED COUNTRIES DIVERSIFICATION DUTCH DISEASE ECONOMIC GROWTH ECONOMIC HISTORY ELASTICITY ENERGY CONSUMPTION EQUILIBRIUM EXCHANGE RATE EXCHANGE RATE APPRECIATION EXCHANGE RATE DEVALUATION EXPENDITURES EXPORTS FARMS FINANCIAL SECTOR FISCAL POLICY FISCAL RESPONSIBILITY FISCAL YEAR FIXED COSTS FORECASTS FOREIGN EXCHANGE FOREIGN EXCHANGE MARKET FORESTRY GDP GDP PER CAPITA GOVERNMENT EXPENDITURES GROSS DOMESTIC PRODUCT GROWTH RATE HUMAN CAPITAL IMPORTS INCOME INCOME COUNTRIES INCOME TAXES INFLATION INFLATION RATE LABOR FORCE LAWS LDCS LESS DEVELOPED COUNTRIES M2 MACROECONOMIC MODELS MACROECONOMIC POLICY MACROECONOMIC STABILIZATION MARKET PRICES MARKETING MEDIUM TERM EXPENDITURE FRAMEWORK METALS MOTIVATION OIL OIL PRICES OIL SECTOR OPEC ORGANIZATION OF PETROLEUM EXPORTING COUNTRIES POLICY MAKERS POPULATION GROWTH PRICE FLUCTUATIONS PRIVATE CONSUMPTION PRIVATE SECTOR PRODUCERS PRODUCTIVITY PRODUCTIVITY GROWTH PROVEN RESERVES PUBLIC SECTOR QUOTAS REAL EXCHANGE RATE REAL GDP REGRESSION ANALYSIS RETIREMENT SAVINGS SCENARIOS SERVICES SECTOR STABILIZATION POLICIES STRUCTURAL ADJUSTMENT TAX RATES TERMS OF TRADE TOTAL FACTOR PRODUCTIVITY TRADE BARRIERS UNEMPLOYMENT VOLATILITY WAGES WASTE
Online Access:	http://documents.worldbank.org/curated/en/2003/06/5660739/nigeria-policy-options-growth-stability-vol-1-2-main-report http://hdl.handle.net/10986/14388

id	okr-10986-14388
recordtype	oai_dc
spelling	okr-10986-143882021-04-23T14:03:18Z Nigeria - Policy Options for Growth and Stability : Volume 1. Main Report World Bank ACCOUNT ACCOUNTS ADJUSTMENT POLICIES AGRICULTURAL OUTPUT AGRICULTURE ASSETS BASE YEAR CAPITAL ACCUMULATION CAPITAL FLIGHT CENTRAL BANK CITIES COAL CONSUMER PRICE INDEX CONSUMERS COUNTRY COMPARISON CPI CROSS-COUNTRY EXPERIENCE CURRENCY DEVALUATION DEVELOPED COUNTRIES DIVERSIFICATION DUTCH DISEASE ECONOMIC GROWTH ECONOMIC HISTORY ELASTICITY ENERGY CONSUMPTION EQUILIBRIUM EXCHANGE RATE EXCHANGE RATE APPRECIATION EXCHANGE RATE DEVALUATION EXPENDITURES EXPORTS FARMS FINANCIAL SECTOR FISCAL POLICY FISCAL RESPONSIBILITY FISCAL YEAR FIXED COSTS FORECASTS FOREIGN EXCHANGE FOREIGN EXCHANGE MARKET FORESTRY GDP GDP PER CAPITA GOVERNMENT EXPENDITURES GROSS DOMESTIC PRODUCT GROWTH RATE HUMAN CAPITAL IMPORTS INCOME INCOME COUNTRIES INCOME TAXES INFLATION INFLATION RATE LABOR FORCE LAWS LDCS LESS DEVELOPED COUNTRIES M2 MACROECONOMIC MODELS MACROECONOMIC POLICY MACROECONOMIC STABILIZATION MARKET PRICES MARKETING MEDIUM TERM EXPENDITURE FRAMEWORK METALS MOTIVATION OIL OIL PRICES OIL SECTOR OPEC ORGANIZATION OF PETROLEUM EXPORTING COUNTRIES POLICY MAKERS POPULATION GROWTH PRICE FLUCTUATIONS PRIVATE CONSUMPTION PRIVATE SECTOR PRODUCERS PRODUCTIVITY PRODUCTIVITY GROWTH PROVEN RESERVES PUBLIC SECTOR QUOTAS REAL EXCHANGE RATE REAL GDP REGRESSION ANALYSIS RETIREMENT SAVINGS SCENARIOS SERVICES SECTOR STABILIZATION POLICIES STRUCTURAL ADJUSTMENT TAX RATES TERMS OF TRADE TOTAL FACTOR PRODUCTIVITY TRADE BARRIERS UNEMPLOYMENT VOLATILITY WAGES WASTE This report represents an effort to identify policy options for long-run growth and poverty reduction that are compatible with the high degree of macroeconomic volatility and challenging institutional realities faced by Nigerian policy makers. The report includes the following key messages: a) The Nigerian economy is not merely volatile; it is one of the most volatile economies in the world. b) There is evidence that this volatility has adversely affected not only Nigeria's historical growth record but also the performance of World Bank projects in Nigeria. c) Sustained future growth and poverty reduction are unlikely without a significant reduction in volatility. c) Oil price fluctuations drive only part of Nigeria's volatility, policy choices have also contributed to the problem. d) Policy choices are available that can help accelerate growth and thus help reduce the percentage of people living in poverty. To conclude, the report identifies several policy options that may help Nigerian make the transition to a high growth, low poverty economy despite the current challenges. More work will be required to further test and deepen the ideas put forth here, but the effort will bring its own rewards. 2013-07-08T16:15:05Z 2013-07-08T16:15:05Z 2003-06-30 http://documents.worldbank.org/curated/en/2003/06/5660739/nigeria-policy-options-growth-stability-vol-1-2-main-report http://hdl.handle.net/10986/14388 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Washington, DC Economic & Sector Work :: General Economy, Macroeconomics and Growth Study Economic & Sector Work Africa Nigeria
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English en_US
topic	ACCOUNT ACCOUNTS ADJUSTMENT POLICIES AGRICULTURAL OUTPUT AGRICULTURE ASSETS BASE YEAR CAPITAL ACCUMULATION CAPITAL FLIGHT CENTRAL BANK CITIES COAL CONSUMER PRICE INDEX CONSUMERS COUNTRY COMPARISON CPI CROSS-COUNTRY EXPERIENCE CURRENCY DEVALUATION DEVELOPED COUNTRIES DIVERSIFICATION DUTCH DISEASE ECONOMIC GROWTH ECONOMIC HISTORY ELASTICITY ENERGY CONSUMPTION EQUILIBRIUM EXCHANGE RATE EXCHANGE RATE APPRECIATION EXCHANGE RATE DEVALUATION EXPENDITURES EXPORTS FARMS FINANCIAL SECTOR FISCAL POLICY FISCAL RESPONSIBILITY FISCAL YEAR FIXED COSTS FORECASTS FOREIGN EXCHANGE FOREIGN EXCHANGE MARKET FORESTRY GDP GDP PER CAPITA GOVERNMENT EXPENDITURES GROSS DOMESTIC PRODUCT GROWTH RATE HUMAN CAPITAL IMPORTS INCOME INCOME COUNTRIES INCOME TAXES INFLATION INFLATION RATE LABOR FORCE LAWS LDCS LESS DEVELOPED COUNTRIES M2 MACROECONOMIC MODELS MACROECONOMIC POLICY MACROECONOMIC STABILIZATION MARKET PRICES MARKETING MEDIUM TERM EXPENDITURE FRAMEWORK METALS MOTIVATION OIL OIL PRICES OIL SECTOR OPEC ORGANIZATION OF PETROLEUM EXPORTING COUNTRIES POLICY MAKERS POPULATION GROWTH PRICE FLUCTUATIONS PRIVATE CONSUMPTION PRIVATE SECTOR PRODUCERS PRODUCTIVITY PRODUCTIVITY GROWTH PROVEN RESERVES PUBLIC SECTOR QUOTAS REAL EXCHANGE RATE REAL GDP REGRESSION ANALYSIS RETIREMENT SAVINGS SCENARIOS SERVICES SECTOR STABILIZATION POLICIES STRUCTURAL ADJUSTMENT TAX RATES TERMS OF TRADE TOTAL FACTOR PRODUCTIVITY TRADE BARRIERS UNEMPLOYMENT VOLATILITY WAGES WASTE
spellingShingle	ACCOUNT ACCOUNTS ADJUSTMENT POLICIES AGRICULTURAL OUTPUT AGRICULTURE ASSETS BASE YEAR CAPITAL ACCUMULATION CAPITAL FLIGHT CENTRAL BANK CITIES COAL CONSUMER PRICE INDEX CONSUMERS COUNTRY COMPARISON CPI CROSS-COUNTRY EXPERIENCE CURRENCY DEVALUATION DEVELOPED COUNTRIES DIVERSIFICATION DUTCH DISEASE ECONOMIC GROWTH ECONOMIC HISTORY ELASTICITY ENERGY CONSUMPTION EQUILIBRIUM EXCHANGE RATE EXCHANGE RATE APPRECIATION EXCHANGE RATE DEVALUATION EXPENDITURES EXPORTS FARMS FINANCIAL SECTOR FISCAL POLICY FISCAL RESPONSIBILITY FISCAL YEAR FIXED COSTS FORECASTS FOREIGN EXCHANGE FOREIGN EXCHANGE MARKET FORESTRY GDP GDP PER CAPITA GOVERNMENT EXPENDITURES GROSS DOMESTIC PRODUCT GROWTH RATE HUMAN CAPITAL IMPORTS INCOME INCOME COUNTRIES INCOME TAXES INFLATION INFLATION RATE LABOR FORCE LAWS LDCS LESS DEVELOPED COUNTRIES M2 MACROECONOMIC MODELS MACROECONOMIC POLICY MACROECONOMIC STABILIZATION MARKET PRICES MARKETING MEDIUM TERM EXPENDITURE FRAMEWORK METALS MOTIVATION OIL OIL PRICES OIL SECTOR OPEC ORGANIZATION OF PETROLEUM EXPORTING COUNTRIES POLICY MAKERS POPULATION GROWTH PRICE FLUCTUATIONS PRIVATE CONSUMPTION PRIVATE SECTOR PRODUCERS PRODUCTIVITY PRODUCTIVITY GROWTH PROVEN RESERVES PUBLIC SECTOR QUOTAS REAL EXCHANGE RATE REAL GDP REGRESSION ANALYSIS RETIREMENT SAVINGS SCENARIOS SERVICES SECTOR STABILIZATION POLICIES STRUCTURAL ADJUSTMENT TAX RATES TERMS OF TRADE TOTAL FACTOR PRODUCTIVITY TRADE BARRIERS UNEMPLOYMENT VOLATILITY WAGES WASTE World Bank Nigeria - Policy Options for Growth and Stability : Volume 1. Main Report
geographic_facet	Africa Nigeria
description	This report represents an effort to identify policy options for long-run growth and poverty reduction that are compatible with the high degree of macroeconomic volatility and challenging institutional realities faced by Nigerian policy makers. The report includes the following key messages: a) The Nigerian economy is not merely volatile; it is one of the most volatile economies in the world. b) There is evidence that this volatility has adversely affected not only Nigeria's historical growth record but also the performance of World Bank projects in Nigeria. c) Sustained future growth and poverty reduction are unlikely without a significant reduction in volatility. c) Oil price fluctuations drive only part of Nigeria's volatility, policy choices have also contributed to the problem. d) Policy choices are available that can help accelerate growth and thus help reduce the percentage of people living in poverty. To conclude, the report identifies several policy options that may help Nigerian make the transition to a high growth, low poverty economy despite the current challenges. More work will be required to further test and deepen the ideas put forth here, but the effort will bring its own rewards.
format	Economic & Sector Work :: General Economy, Macroeconomics and Growth Study
author	World Bank
author_facet	World Bank
author_sort	World Bank
title	Nigeria - Policy Options for Growth and Stability : Volume 1. Main Report
title_short	Nigeria - Policy Options for Growth and Stability : Volume 1. Main Report
title_full	Nigeria - Policy Options for Growth and Stability : Volume 1. Main Report
title_fullStr	Nigeria - Policy Options for Growth and Stability : Volume 1. Main Report
title_full_unstemmed	Nigeria - Policy Options for Growth and Stability : Volume 1. Main Report
title_sort	nigeria - policy options for growth and stability : volume 1. main report
publisher	Washington, DC
publishDate	2013
url	http://documents.worldbank.org/curated/en/2003/06/5660739/nigeria-policy-options-growth-stability-vol-1-2-main-report http://hdl.handle.net/10986/14388
_version_	1764428965963890688

Nigeria - Policy Options for Growth and Stability : Volume 1. Main Report

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