Health.

Health.

  • Submitted By: chikala
  • Date Submitted: 04/07/2013 9:28 AM
  • Category: Science
  • Words: 6339
  • Page: 26
  • Views: 148

International Journal of Academic Research in Economics and Management Sciences September 2012, Vol. 1, No. 5 ISSN: 2226-3624

Fiscal/Monetary Policy and Economic Growth in Nigeria: A Theoretical Exploration
Dr. Abata, Matthew Adeolu
Department Of Accounting And Finance, Faculty Of Management Sciences, Lagos State University, Ojo, Lagos, Nigeria

Dr. Kehinde, James Sunday
Department Of Accounting And Finance, Faculty Of Management Sciences, Lagos State University, Ojo, Lagos, Nigeria

Mrs Bolarinwa, Sehilat Abike
Department Of Accounting And Finance, Faculty Of Management Sciences, Lagos State University, Ojo, Lagos, Nigeria Abstract This paper assesses how fiscal and monetary policies influence economic growth and development in Nigeria. The paper argues that curbing the fiscal indiscipline of Government will take much more than enshrining fiscal policy rules in our statute books. This is because the statute books are replete with dormant rules and regulation. It notes that there exist a mild long-run equilibrium relationship between economic growth and fiscal policy variables in Nigeria. The paper suggest that for any meaningful progress towards fiscal prudence on the part of Government to occur, some powerful pro-stability stakeholders strong enough to challenge government fiscal recklessness will need to emerge. Introduction The Nigerian economy has been plagued with several challenges over the years. In spite of many, and frequently changing, fiscal, monetary and other macro-economic policies, Nigeria has not been able to harness her economic potentials for rapid economic development (Ogbole, 2010). According to Adeoye (2006), the debate on the effectiveness of fiscal policy as a tool for promoting growth and development remains inconclusive, given the conflicting results of current studies. Over the last decade, the growth impact of fiscal policy has generated large volume of both theoretical and empirical literature. However, most of these studies paid...

Similar Essays