RESOURCE REQUIREMENTS IN THE ADJUSTMENT PROCESS:A MACROECONOMETRIC SIMULATION STUDY OF THE NIGERIAN ECONOMY

Abstract: THIS STUDY INVESTIGATES THE DOMINANT RESOURCE CONSTRAINT LIMITING GROWTH IN NIGERIA AS WELL AS THE DETERMINATION OF FUTURE RESOURCES REQUIREMENTS NEEDED TO ACHIEVE SUCH GROWTH. USING A SMALL SCALE MACROECONOMETRIC SIMULATION MODEL, THREE DIFFERENT EXPERIMENTS WERE CARRIED OUT. THE RESULTS SHOWED THAT AT A HIGHER TARGET GROWTH RATE, MORE RESOURCES WILL BE REQUIRED THAN AT A LOWER GROWTH RATE. AND THAT DOMESTIC RESOURCES GAP WAS THE DOMINANT(BINDING)RESOURCE CONSTRAINT LIMITING GROWTH IN NIGERIA. THIS THEREFORE SUGGESTS THE NEED TO MOBILIZE FOREIGN RESOURCES SO AS TO COMPLEMENT DOMESTIC SAVINGS.

Keywords: RESOURCE CONSTRAINT; MACROECONOMETRIC MODEL; DOMESTIC SAVINGS; FORIGN RESOURCES; GROWTH RATE (search for similar items in EconPapers)
JEL-codes: C50 C53 F35 (search for similar items in EconPapers)
Date: Written 2003-07-05
Note: Type of Document - MICROSOFT WORD 2000; prepared on IBM PC - PC; to print on HP/; pages: 46 ; figures: included. We never published this piece and now we would like to reduce our mailing and xerox cost by posting it.
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