Economic Growth and Policy Choice in Nigeria: Lessons from the Asia Pacific

Obadiah Mailafia

Chapter 7 in Economic Policy Options for a Prosperous Nigeria, 2008, pp 167-184 from Palgrave Macmillan

Abstract: Abstract For more than three decades, the economic performance of the Asian economies, especially the so-called ‘tigers’ — Singapore, Hong Kong, South Korea and Taiwan — has been one of the remarkable features of international economic relations.1 The literature on the ‘Asian miracle’ is vast and evolving. The key issue for scholars is seeking the explanatory variables and key determinants of economic success in the region (Acemoglu et al., 2004). In Nigeria, as indeed in Africa and the rest of the developing world, there is renewed interest in emulating the economic policies that led to the rapid and sustained growth experienced in the Asia Pacific. Many countries in the developing world are seeking to understand the growth dynamics2 sustained in the Asian countries and to find how best to replicate the East Asian experiences in their quest for economic growth and development.3

Keywords: Gross Domestic Product; Policy Choice; Domestic Investment; Real Gross Domestic Product; Structural Adjustment Programme (search for similar items in EconPapers)
Date: 2008
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-58319-1_8

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DOI: 10.1057/9780230583191_8

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