The Size and Sustainability of Nigerian Current Account Deficits

June 1, 2001

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Olumuyiwa S Adedeji. The Size and Sustainability of Nigerian Current Account Deficits, (USA: International Monetary Fund, 2001) accessed September 20, 2024

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

This paper uses an intertemporal model of the current account and macroeconomic indicators to examine the size and sustainability of Nigerian current account deficits over the 1960-97 period. The results indicate that the Nigerian economy appeared to satisfy its intertemporal budget constraint during this period. However there were years marked by excessive current account deficits. The results also support the view that current account deficits accompanied by macroeconomic instability and structural weaknesses can degenerate in to an external crisis.

Subject: Balance of payments, Current account, Current account balance, Current account deficits, Current account surpluses, External debt

Keywords: Capital flight, Current account, Current account balance, Current account balance, Current account deficits, Current account determination, Current account position, Current account surpluses, Current-account sustainability, Excessive current account deficits, Exchange rate, External sustainability, Foreign exchange, Nigeria, Nigerian current account deficit, Optimal current account, Present value, Structural adjustment, Sub-Saharan Africa, WP

Publication Details

Pages:

33
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 2001/087
Stock No:

WPIEA0872001
ISBN:

9781451851021
ISSN:

1018-5941

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