Introduction: The End of Cheap Oil and Its Implications for South Africa

Wakeford, Jeremy J.

doi:10.1007/978-1-4614-9518-5_1

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Conceptual Clarifications and Theoretical Underpinnings1

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2022

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“…Oil price bubbles are predominantly defined as price fluctuations resulting from changes in either the demand or supply side of the international oil market (Wakeford, 2006). These changes are unexpected and unpredictable and have been traditionally traced through the supply-side disruption.…”

Section: Conceptual Clarifications and Theoretical Underpinningsmentioning

confidence: 99%

Impact of Oil Price Bubble and Economic Growth in Nigeria

2022

NIU JSS

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The study examined the impact of oil price bubble on economic growth in Nigeria for the period of 1990-2020. Secondary data was collected from World development indicators and CBN statistical bulletin. Descriptive statistics, unit root test, cointegration test, granger causality test, variance decomposition and vector autoregressive model were conducted. Findings revealed that oil price bubble does not have significant effect on economic growth in Nigeria. The study recommended that there is need for policymakers to concentrate on policies that will fortify/balance out the macroeconomic structure of Nigeria with specific emphasis on diversification of the national income base as a means of limiting dependence on oil. Also, after an oil shock, appropriate fiscal policy should be utilized to stabilize Nigerian domestic economy and as exporter and importer of oil, the government of Nigeria needs to set up more refineries and ensure that the current ones are in great condition of repair to reduce the importation and bend the accumulations of the instability.

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Section: Conceptual Clarifications and Theoretical Underpinningsmentioning

confidence: 99%

Impact of Oil Price Bubble and Economic Growth in Nigeria

2022

NIU JSS

View full text Add to dashboard Cite

show abstract

Introduction: The End of Cheap Oil and Its Implications for South Africa

Cited by 1 publication

References 25 publications

Impact of Oil Price Bubble and Economic Growth in Nigeria

Impact of Oil Price Bubble and Economic Growth in Nigeria

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