AN ANALYSIS OF NIGERIA'S FISCAL POLICY AND OUTPUT GROWTH: TOWARDS ACHEVIEVING THE MILLENIUM DEVELOPM

AN ANALYSIS OF NIGERIA'S FISCAL POLICY AND OUTPUT GROWTH: TOWARDS ACHEVIEVING THE MILLENIUM DEVELOPM

Author by Dr. Esther Lawal

Language: English

Abstract

Abstract The eighth MDG to be achieved before the year 2015 is the attainment of global partnership by developing an open, rule- based and non- discriminatory trading and financial system which makes sure that developing countries like Nigeria gain greater access to the markets of developed countries and that least developed countries benefit from tariff reductions, especially on their agricultural products. It is therefore pertinent that the fiscal policies of developing countries must be targeted towards increasing exports to developed countries and increasing benefits of tariff reduction by exporters. A growth in output increases the possibility of favorable balance of trade relations between Nigeria and other developed countries in terms of an increased export level from a reduced export tariff. This study examines the long - run equilibrium relationship between the growth rate of output and variations in (custom and excise duties) trade tariffs using an error correction model and discuss the policy implications therewith on Nigeria’s partnership with developed nations.


Other Co-Authors