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Bullion

Keywords

Fiscal discipline, Fiscal imbalance, Fiscal breakeven, Oil price, Budget, Taxation, Expenditure framework.

Abstract

The Nigerian economy technically exited a recession since the second half of 2017 but the growth in GDP has remained weak and fragile. The concept of fiscal discipline can be viewed from three perspectives. The first is by public finance theorist, Richard Musgrave, Another view by John Mikesell (cited in Musgrave and Musgrave, 1989), The third usage by Axelrod extends the coverage of fiscal discipline to legislators. This paper examines why fiscal discipline is essential for Nigeria, experiences of peer countries and imperatives of fiscal discipline for sustaining economic growth

Author Bio

The author is Head, Banking and Finance Department, Nasarawa State University, Keffi, Nigeria.

Publication Title

CBN Bullion

Issue

3

Volume

42

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