Squilibri macroeconomici e distorsioni settoriali in Nigeria a 15 anni dalla fine del boom: una interpretazione - Macroeconomic imbalances and sectorial distortions in Nigeria

Serena Di Gaspare ()
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Serena Di Gaspare: University of Turin Department of Economics, Postal: Via Po, 53. I-10124 Torino - Italy, http://www.de.unito.it/default.htm

Economia Internazionale / International Economics, 1997, vol. 50, issue 2, 177-206

Abstract: This study starts from the observation that the “Dutch disease” model alone cannot explain the past and present crisis of the nigerian economy and attributes the origin of the crisis to the inward-oriented trade policy and import-substitution strategy followed in Nigeria before the oil boom. The case of Nigeria suggests that the more inward-oriented is an economy the stronger are the symptoms of the “Dutch disease” and the less successful are the policies to counter it. Following this conclusion, the macroeconomic imbalances and the sectorial distortions existing in Nigeria before the oil boom are pointed out through a brief analysis of the economic policy. The impact of the oil boom and its effects are then analysed. In addition, some controversial features of the “Dutch disease” model applied to Nigeria are outlined. We conclude with a quick evaluation of the structural reforms program started in 1986.

Date: 1997
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