Economic Reforms in Nigeria

Paper Summary:

This paper discusses three theories of economic growth - the neoclassical, institutional and locational theories. The paper critically analyzes the economic situation in Nigeria. It looks at the problems that have hindered economic growth in the country, including education, infrastructure and agriculture. The paper then discusses potential economic reforms for Nigeria and presents a ten year outlook for the country.

Table of Contents:
Abstract
Introduction
Economic Growth
Economic Growth Theories
Neoclassical
Institutional
Locational
History of Nigeria
Government of Nigeria
Economic Issues
Poverty and Diseases
Education
Infrastructure
Agriculture
Financial Reform
Current Situation
Current Outlook
Ten Year Outlook
Nigeria's Growth Theory
Footnotes

From the Paper:

"Economic growth is the increase in value of goods and services produced by an economy. It can be measured as a percent change in the country's Gross Domestic Product (GDP). Growth is essential for the development of any country. Ensuring that the benefits of high economic growth are more widely distributed is vital for making such growth sustainable (Anonymous, 2007)."
"One of the most noticeable features of the Nigerian economy is that the majority of the Nigerian population is poor and stricken with widespread poverty and disease. This reflects in the low GDP per capita of the country."

Sample of Sources Used:

• Anonymous. (1992). Economic growth: explaining the mystery [Electronic version]. The Economist, 322(7740), 15-17.
• Anonymous. (1996). The poor and the rich [Electronic version]. The Economist, 339(7967), 23-25.
• Anonymous. (2007). Assessment and recommendations [Electronic version]. OECD Economic Surveys, 2007(7), 9-16.
• Baunsgaard, Thomas. (2003). Fiscal policy in Nigeria: any role for rules? (IMF Working Paper No. 03/155). International Monetary Fund. Retrieved September 1, 2007, from http://www.imf.org/external/pubs/ft/wp/2003/wp03155.pdf
• Capolupo, Rosa. (1998). Convergence in recent growth theories: a survey [Electronic version]. Journal of Economic Studies, 25(6).

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