Abstract
This paper critiques the excess borrowing of the Nigerian government. It argues that within the period of 2004-2011 oil prices were high leading to the introduction of excess crude account, yet, external borrowing equally heightened. It is a common view among policy makers and public finance experts that government should save in an era of boom to ensure fiscal sustainability. The presence of increasing oil price within the period has raised an important question on why should government borrow in an era of plenty. The paper raises questions about the implications of borrowing on the future generation.
Original language | English |
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Pages (from-to) | 133-139 |
Number of pages | 7 |
Journal | International Journal of Economic Perspectives |
Volume | 11 |
Issue number | 3 |
Publication status | Published - Sept 2017 |
Keywords
- Debt
- Government expenditure
- Oil revenue
- Unemployment rate
ASJC Scopus subject areas
- Economics, Econometrics and Finance (all)