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An Assessment of Simultaneous Attainability of Internal and External Economic Stability: Evidence from Nigeria

Author

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  • Francis Agboola Oluleye

    (Economics and Development Program, Federal University Otuoke, Bayelsa.)

Abstract

This study set out to investigate whether it is possible to simultaneously achieve internal and external economic stability objectives and to examine the impact of economic stability on economic growth. A model of simultaneous relation was formulated and identified. Data covering 1970 – 2012 were collected and the technique of Indirect Least Squares (ILS) was applied to analyze the data. The study found that there is a trade-off relationship between internal stability and external balance. Achieving external balance is therefore at the expense of internal balance. There is, thus, the need for government to choose between achieving internal balance or external balance. It is therefore the recommendation of this paper that priority attention should be given to internal stability.

Suggested Citation

  • Francis Agboola Oluleye, 2014. "An Assessment of Simultaneous Attainability of Internal and External Economic Stability: Evidence from Nigeria," Journal of Economic and Financial Studies (JEFS), LAR Center Press, vol. 2(4), pages 34-42, August.
    • Handle: RePEc:lrc:lareco:v:2:y:2014:i:4:p:34-42
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    More about this item

    Keywords

    Balance of payments; Economic growth; Inflation; Unemployment; Stability.;
    All these keywords.

    JEL classification:

    • E20 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - General (includes Measurement and Data)
    • E63 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Comparative or Joint Analysis of Fiscal and Monetary Policy; Stabilization; Treasury Policy
    • F32 - International Economics - - International Finance - - - Current Account Adjustment; Short-term Capital Movements
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development

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