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Impact Of Of Fiscal Policy On The Real Sector In Nigeria. (1970-2011)

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ABSTRACT
Fiscal policy is an important instrument used to attain economic stability in any country. Effective fiscal policy by the government will enable the economy to attain it macroeconomic goals. The objective of this study was to  analyses the relationship between fiscal policy and the real sector in Nigeria using an annual data from 1970- 2011.This study used secondary data  obtained from the statistical bulletin. Unit roots of the series were examined using the Augmented Dickey-Fuller technique, Philip Peron after which the  Ordinary Least Square method was conducted and co -integration test was conducted to determine the long run relationship, Error-correction models were estimated to take care of short-run dynamics. Over all, the results indicate a negative relationship between fiscal policy and the real sector in Nigeria; it was found that fiscal policy has not been effective in the area of promoting sustainable economic growth in Nigeria. Although, the finding seems invalidating the Keynesian postulation of the need for an active policy to stimulate economic activities, however, factors such as policy inconsistencies, high level of corruption, wasteful spending, poor policy implementation and lack of feedback mechanism for implemented policies evident in Nigeria which are indeed capable of hampering the effectiveness of fiscal policy have made it impossible to come up with such a conclusion. To put the Nigerian economy, therefore, along the path of sustainable growth and development, the government must put a stop to the continous unproductive foreign borrowing, wasteful spending and uncontrolled money supply and embark upon specific policies aimed at achieving increased and sustainable productivity in all sectors of the economy.      

 TABLE OF CONTENT

Title Page              
Certification               
Dedication            
Acknowledgement           
Table of contents         
List of Table‟s           
Abstract            

CHAPTER ONE
INTRODUCTION
1.0 Background of the Study 1
1.1 Statement of the Problem 5
1.2 Research Questions 7
1.3 Objectives of the study 7
1.4 Research Hypothesis 8
1.5 Scope of the Study 8
1.6 Justification for the Study 9
1.7 Organization of the Study 9

CHAPTER TWO: 
LITERATURE REVIEW
2.0 Introduction 10
2.1 Review of Theoretical Literature 11
2.2 Review of Empirical Studies 14
2.2.1 Review of Empirical studies from Developing and Developed country 14
2.2.2Review of Empirical studies in Nigeria 26
2.2.3 Summary of Empirical Literatures 32

CHAPTER THREE
RESEARCH METHODOLOGY
3.0 Introduction 38
3.1 Research design 38
3.2 Sources of Data Collection 39
3.3 Description of Data Analysis 40
3.4 Model Specification 40
3.5 Apiriori Expectation 42
3.6 Model Evaluation 44
3.6.1Economic Criteria 44
 3.6.2 Statistical criteria 45

CHAPTER FOUR
DATA PRESENTATION AND INTERPRETATION
4.0 Introduction 49
4.1 Trend Analysis 49
4.2 Tools of Analysis 52
4.3 Presentation and Interpretation of Result 52
4.3.1 Unit test root 52
4.3.2 OLS result and interpretations 55
4.3.3 Co-integration result 60
4.3.4 Error Correction Mechanism 61

CHAPTER FIVE
SUMMARY, CONCLUSION AND RECOMMENDATIONS
5.0 Introduction 64
5.1 Summary 64
5.2 Conclusion 66
5.3 Recommendations 68
5.4 Suggestion for Further Studies 69
References 71
Appendix 1 74
Appendix 2             
 
  
 
                            
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(2016, 08). Impact Of Of Fiscal Policy On The Real Sector In Nigeria. (1970-2011).. ProjectStoc.com. Retrieved 08, 2016, from https://projectstoc.com/read/7897/impact-of-of-fiscal-policy-on-the-real-sector-in-nigeria-1970-2011-5318
"Impact Of Of Fiscal Policy On The Real Sector In Nigeria. (1970-2011)." ProjectStoc.com. 08 2016. 2016. 08 2016 <https://projectstoc.com/read/7897/impact-of-of-fiscal-policy-on-the-real-sector-in-nigeria-1970-2011-5318>.
"Impact Of Of Fiscal Policy On The Real Sector In Nigeria. (1970-2011).." ProjectStoc.com. ProjectStoc.com, 08 2016. Web. 08 2016. <https://projectstoc.com/read/7897/impact-of-of-fiscal-policy-on-the-real-sector-in-nigeria-1970-2011-5318>.
"Impact Of Of Fiscal Policy On The Real Sector In Nigeria. (1970-2011).." ProjectStoc.com. 08, 2016. Accessed 08, 2016. https://projectstoc.com/read/7897/impact-of-of-fiscal-policy-on-the-real-sector-in-nigeria-1970-2011-5318.