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Periodical article Periodical article Leiden University catalogue Leiden University catalogue WorldCat catalogue WorldCat
Title:Deficit financing, inflation and capital formation: an analysis of the Nigerian experience, 1957-1970
Author:Oyejide, T. AdemolaISNI
Periodical:The Nigerian Journal of Economic and Social Studies
Geographic term:Nigeria
Subjects:capital formation
Abstract:Dual objective of this paper: an attempt is made to explain changes in the price level in Nigeria over 1957-1970 and the implicit hypothesis is tested that there exists a positive and significant relationship between deficit financing and capital formation in Nigeria. Section 1: some theoretical considerations on the relationship between deficit financing and capital formation and that between deficit financing and inflation. Section 2: the development of the policy of deficit financing in Nigeria over 1957-1970 and analysis of the process of deficit financing in a number of distinguishable stages. Section 3: a simple model which puts into focus the relationships indicated in section 1. Section 4: the results of the estimation of the postulated relationships between deficit financing, the price level and capital formation. Section 5: conclusions and policy implications. Notes, tables, appendix table.