Nigeria Confronts Post-Crisis Global Economic Realities

4 Pages Posted: 31 May 2014

Date Written: May 29, 2014

Abstract

Nigeria has long been trying to learn how best to manage boom-bust cycles in global commodity prices, adopting an oil-price benchmark for annual budgets while saving revenues above the benchmark in an excess crude account in the half decade before the 2008/2009 global crisis. The crisis and its aftermath now dictate that the country needs additional lessons on how best to manage surge-shortage cycles in global liquidity. Managing frequent external trade shocks is now only a part of the story, managing frequent external financial shocks, particularly with the intricate interactions between the two, is the other part.

Keywords: Nigeria, Boom-Bust Cycles, Global Commodity Prices, Oil Price, Surge-Shortage Cycles, Global Liquidity, Capital Flows, Current Account Shocks, Capital Account Shocks

JEL Classification: F01, F32

Suggested Citation

Teriba, Ayo, Nigeria Confronts Post-Crisis Global Economic Realities (May 29, 2014). Available at SSRN: https://ssrn.com/abstract=2443336 or http://dx.doi.org/10.2139/ssrn.2443336

Ayo Teriba (Contact Author)

Economic Associates ( email )

1st Floor Lindev Plaza, 16 Amodu Ojikutu Street
PO Box 70909
Victoria Island Lagos
Nigeria
+234 1 461 0802 (Phone)
+234 1 461 0805 (Fax)

HOME PAGE: http://www.econassociates.com

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