Journal of
Economics and International Finance

  • Abbreviation: J. Econ. Int. Finance
  • Language: English
  • ISSN: 2006-9812
  • DOI: 10.5897/JEIF
  • Start Year: 2009
  • Published Articles: 363

Full Length Research Paper

Fiscal policy: Its impact on economic growth in Nigeria 1970 to 2006

Ogbole F. Ogbole1, Sonny N. Amadi2* and Isaac D. Essi3
  1Department of Accountancy, The Federal Polytechnic, Damaturu, Yobe State, Nigeria. 2Department of Banking and Finance, Rivers State University of Science and Technology Port Harcourt, Nigeria. 3Department of Mathematics/Computer Science, Rivers State University of Science and Technology, Port Harcourt, Nigeria.
Email: [email protected]

  •  Accepted: 16 February 2011
  •  Published: 30 June 2011

Abstract

 

This study involves comparative analysis of the impact of fiscal policy on economic growth in Nigeria during regulation and deregulation periods. Econometric analysis of time series data from Central Bank of Nigeria was conducted. Results obtained showed that there is a difference in the effectiveness of fiscal policy in stimulating economic growth during and after regulation periods. The impact was marginally higher (only N140 million or 14% contribution to GDP) during deregulation, than in the regulation period. We recommend appropriate policy mix, prudent public spending, setting of achievable fiscal policy targets and diversification of the nation’s economic base, among others.

 

Key words: Fiscal policy, regulation, deregulation, economic growth.

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This article is published under the terms of the Creative Commons Attribution License 4.0

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