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Are We There Yet?

Author

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  • Emmanuel Olusegun Stober

Abstract

If we are to go by two consecutive quarters of negative growth to declare a country of plumping into recession, then at five consecutive quarters, Nigeria can be considered to be in depression. Meanwhile, the Q2 2017 GDP result reported by the National Bureau of Statistics is like a beautifully wrapped Christmas gift. The true value can only be revealed and appreciated after the unwrapping of the gift. Thus, this empirical analysis is aimed at dissecting the Nigerian economic performance. It is meant to prove whether the economy has truly exited recession. This study concludes by giving recommendations on what government should be doing to truly improve the wellbeing of the citizens and truly get the country out of recession.

Suggested Citation

  • Emmanuel Olusegun Stober, 2017. "Are We There Yet?," Academic Journal of Economic Studies, Faculty of Finance, Banking and Accountancy Bucharest,"Dimitrie Cantemir" Christian University Bucharest, vol. 3(4), pages 68-76, December.
    • Handle: RePEc:khe:scajes:v:3:y:2017:i:4:p:68-76
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    References listed on IDEAS

    as
    1. Valerie Cerra & Sweta Chaman Saxena, 2008. "Growth Dynamics: The Myth of Economic Recovery," American Economic Review, American Economic Association, vol. 98(1), pages 439-457, March.
    2. Dimitri B. Papadimitriou & Michalis Nikiforos & Gennaro Zezza, 2015. "Greece: Conditions and Strategies for Economic Recovery," Economics Strategic Analysis Archive sa_gr_5_15, Levy Economics Institute.
    3. Emmanuel Olusegun STOBER, 2016. "Crude Oil Price Shocks And Macroeconomic Behavior In Nigeria," Journal of Social and Economic Statistics, Bucharest University of Economic Studies, vol. 5(1), pages 56-66, JULY.
    4. Emmanuel Olusegun Stober, 2015. "Unemployment Scourge: Rising to the Nigerian Challenge," Romanian Economic Journal, Department of International Business and Economics from the Academy of Economic Studies Bucharest, vol. 18(56), pages 181-200, June,.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Food inflation; GDP growth; Nigeria economy recovery; recession;
    All these keywords.

    JEL classification:

    • E2 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment
    • E3 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles
    • L8 - Industrial Organization - - Industry Studies: Services
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
    • P46 - Political Economy and Comparative Economic Systems - - Other Economic Systems - - - Consumer Economics; Health; Education and Training; Welfare, Income, Wealth, and Poverty

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