Balance of Payments and Macroeconomic Performance in Nigeria

The book's focus is on problems of Nigeria's Balance of Payments (BOP) and the implications for macroeconomic objectives like foreign debt sustainability, economic growth and price stability. The content relates to discussion of the unique relationship between Nigeria's BOP and the carefully selected macroeconomic performance indicators with reference to scholarly articles in the field of economics, possible consequences of an unstable BOP position, justification for the study, trend analysis and stylized facts about the subject matter from the Nigerian context, review of theories, review of related literature, construction of the BOP model from the general equilibrium concept of an open economy, Growth model in relation to BOP, inflation and external debt model from the post keynesian BOP growth model with capital flow. The dissertation includes four empirical analysis using the long run co-integration test, normalized coefficients and error correction mechanism. The book concludes with the empirical affirmation of the linkage that exists between BOP and the selected indicators. This work is highly recommended for oil dependent economies.