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International Journal  of Business, Management and Social Research 
RESEARCH ARTICLE: 
Fiscal operations and macroeconomic growth: The Nigerian experience

Miftahu Idris and Rosni Bakar
School of Business Innovation and Technopreneurship, Universiti Malaysia Perlis, Malaysia

​Article information:
Received: 10.02.17, Revised: 17.03.17 and Published online: 14 April 2017.​
Int. J. Bus. Manag. Soc. Res. | Volume 03, Issue 01, pp. 162-178
Crossref: https://doi.org/10.18801/ijbmsr.030117.19
19.03.01.17_fiscal_operations_and_macroeconomics_of_nigeria.pdf
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Title: Fiscal operations and macroeconomic growth: The Nigerian experience
Abstract: Over the years in Nigeria, the trend of fiscal expenditure continues to increase rapidly without any corresponding increase in the level of revenue. This scenario had deteriorated the fiscal stability resulting in high rates of deficits and domestic debt, as well as inducing more inflationary pressure within the market-oriented economy. In view of the decreasing price of crude oil in the international market accompanied by lower revenue generation, the rising inflationary pressure has continued to serve as a major obstacle to ensuring sustainable growth in Nigeria. With the monetary policy being constrained in addressing this problem as a result of the prevailing exchange rate regimes which adversely affect the activities of the commercial banks, this gave fiscal policy the opportunity to carry the main task of macroeconomic stabilisation in Nigeria. It is in view of this background that this paper is aimed at evaluating the effects of fiscal operations on macroeconomic growth in Nigeria. Enormous literature related to fiscal operations in both developed and developing countries are reviewed, and the trends of fiscal variables are also presented. The paper adopted a descriptive method and utilised both charts and table to show the trend of fiscal elements with the aim of determining the relationship between the variables. The paper concludes that fiscal operation is ineffective in providing the needed macroeconomic environment for sustainable growth. Therefore, there is a need for government to reduce the size of its deficits, broaden the revenue base by increasing the contribution from non-oil sources, and synchronise both monetary and fiscal policies in order to attain the desired level of sustainable growth.
Key Words:  Fiscal operations, Macroeconomic growth, Fiscal policy and Monetary policy
HOW TO CITE THIS ARTICLE:
​APA (American Psychological Association) 
Idris, M. and Bakar, R. (2017). Fiscal operations and macroeconomic growth: The Nigerian experience. International Journal of Business, Management and Social Research, 03(01), 162-178.

MLA (Modern Language Association) 
Idris, M. and Bakar, R. “Fiscal operations and macroeconomic growth: The Nigerian experience’’. International Journal of Business, Management and Social Research, 03(01) (2017): 162-178.
 
Chicago and or Turabian
Idris, M. and Bakar, R. Fiscal operations and macroeconomic growth: The Nigerian experience. International Journal of Business, Management and Social Research, 03, no. (01) (2017): 162-178.
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