Fiscal Policy in Nigeria: Any Role for Rules?

WPIEA1552003 Image
Price:  $15.00

Author/Editor: Thomas Baunsgaard
Release Date: © July, 2003
ISBN : 978-1-45185-733-7
Stock #: WPIEA1552003
English
Stock Status: Available

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Description

Fiscal policy in oil-producing countries can be profoundly affected by oil revenue uncertainty and volatility. Policy formulation should factor in the exhaustibility of the natural resources and aim at reducing oil revenue volatility passed on to the economy. Past fiscal policy in Nigeria has not been successful in this regard, since both revenue and expenditure have been highly volatile, to a large extent reflecting oil price developments. The paper discusses the role an appropriately designed fiscal rule, nested within the long-run sustainable use of oil revenue, could have in providing a more stable framework for fiscal policy formulation. It also highlights practical implementation and transitional issues.

Taxonomy

Economic policy , Fiscal policy




More publications in this series: Working Papers


More publications by: Thomas Baunsgaard