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Economic Diversification in Nigeria

2023-12-28 Business & Economics
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Release : 2023-12-28
Genre : Business & Economics
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Book Rating : 953/5 ( reviews)

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Book Synopsis Economic Diversification in Nigeria by : Zainab Usman

Download or read book Economic Diversification in Nigeria written by Zainab Usman. This book was released on 2023-12-28. Available in PDF, EPUB and Kindle. Book excerpt: Nigeria has for long been regarded as the poster child for the 'curse' of oil wealth. Yet despite this, Nigeria achieved strong economic growth for over a decade in the 21st century, driven largely by policy reforms in non-oil sectors. This open access book argues that Nigeria's major development challenge is not the 'oil curse', but rather one of achieving economic diversification beyond oil, subsistence agriculture, informal activities, and across its subnational entities. Through analysis drawing on economic data, policy documents, and interviews, Usman argues that Nigeria's challenge of economic diversification is situated within the political setting of an unstable distribution of power among individual, group, and institutional actors. Since the turn of the century, policymaking by successive Nigerian governments has, despite superficial partisan differences, been oriented towards short-term crisis management of macroeconomic stabilization, restoring growth and selective public sector reforms. To diversify Nigeria's economy, this book argues that successive governments must reorient towards a consistent focus on pro-productivity and pro-poor policies, alongside comprehensive civil service and security sector overhaul. These policy priorities, Nigeria's ruling elites are belatedly acknowledging, are crucial to achieving economic transformation; a policy shift that requires a confrontation with the roots of perpetual political crisis, and an attempt to stabilize the balance of power towards equity and inclusion. The eBook editions of this book are available open access under a CC BY-NC-ND 4.0 licence on bloomsburycollections.com. Open access was funded by The Carnegie Endowment for International Peace.

Economic Diversification in Nigeria

2020
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Release : 2020
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Book Synopsis Economic Diversification in Nigeria by : Araniyar Isukul

Download or read book Economic Diversification in Nigeria written by Araniyar Isukul. This book was released on 2020. Available in PDF, EPUB and Kindle. Book excerpt: The global fall in oil prices has caused significant external shocks to developing countries whose sole reliance on oil has seen a drastic fall in revenues that accrues from oil sales. To address this issue, there have been renewed calls for developing countries to diversify their economies so as to protect, mitigate and reduce the external shocks that results from depending on a single source of revenue. Nigeria has made several attempts to heed that call. Still, it has not been very successful in making that transition, although there are indications that it may be heading in that direction. This research set out to examine diversification in developing countries using a case study methodology. The intention is simply to draw lessons from countries who have failed to make the diversification and from those who have made the diversification. The findings of this research reveal that diversification is not only a Nigerian problem, several African countries have diversification issues. Secondly, it is a complex process, and economic diversification needs an enabling environment, the right institutional mix (financial, legal, regulatory and market institutions), the necessary infrastructure, human capital development, entrepreneurship combined with the right policy mix sustained over a considerable period of time. Finally, structural challenges continues to hinder any significant transition in terms of economic diversification in developing countries.

The Political Economy of Economic Diversification in Nigeria

2017 Economic development
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Release : 2017
Genre : Economic development
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Book Synopsis The Political Economy of Economic Diversification in Nigeria by : Zainab Usman

Download or read book The Political Economy of Economic Diversification in Nigeria written by Zainab Usman. This book was released on 2017. Available in PDF, EPUB and Kindle. Book excerpt:

Handbook of Research on Institution Development for Sustainable and Inclusive Economic Growth in Africa

2020-12-04 Business & Economics
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Release : 2020-12-04
Genre : Business & Economics
Kind : eBook
Book Rating : 183/5 ( reviews)

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Book Synopsis Handbook of Research on Institution Development for Sustainable and Inclusive Economic Growth in Africa by : Osabuohien, Evans S.

Download or read book Handbook of Research on Institution Development for Sustainable and Inclusive Economic Growth in Africa written by Osabuohien, Evans S.. This book was released on 2020-12-04. Available in PDF, EPUB and Kindle. Book excerpt: African countries are pursuing a number of development agendas toward achieving economic growth that is inclusive, pro-poor, and sustainable, particularly the type that can unleash the potential of women and booming youthful populations. However, available evidence shows that many African countries have experienced economic hardships and have performed more poorly than other developing and emerging countries in the global south. The Handbook of Research on Institution Development for Sustainable and Inclusive Economic Growth in Africa is an essential research publication that provides comprehensive research on the processes of building viable institutions in Africa that will serve as the fulcrum for utilizing and managing resources as well as promoting economic growth that is inclusive and sustainable. Featuring topics such as climate change, financial development, and poverty, this book is ideal for researchers, policymakers, developers, economic professionals, academicians, government officials, business professionals, and students.

Industrialization and Economic Diversification

2022-04-14 Business & Economics
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Release : 2022-04-14
Genre : Business & Economics
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Book Rating : 435/5 ( reviews)

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Book Synopsis Industrialization and Economic Diversification by : Banji Oyelaran-Oyeyinka

Download or read book Industrialization and Economic Diversification written by Banji Oyelaran-Oyeyinka. This book was released on 2022-04-14. Available in PDF, EPUB and Kindle. Book excerpt: Economic diversification entails a shift away from a single income source toward multiple income sources from an increasing spectrum of sectors and markets. A persistent concern for some Asian and African economies is their reliance on commodity exports and how they are exposed to the risk of export volatility and income instability. The Covid-19 pandemic and previous oil crashes have demonstrated the adverse impact on such economies. This book provides a systemic analysis of sustainable economic development through economic diversification. The book analyzes diversification and development experiences from comparative perspectives of Asia and Africa. It also investigates determinants of export diversification differentiated by commodities-dependence versus manufactured products and looks at the roles of various institutions and governance of institutions in export diversification. This book will provide policy insights into how different degrees of specialisation in exports across countries have affected outcomes in terms of living standards, economic growth and employment.

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