Abstract
LDCs that depend heavily on resource exports tend to have rigid and undiversified economies which are particularly sensitive to terms of trade changes and other forms of external shock. In addition, inappropriate domestic policies often lead to overextension of the public sector, currency overvaluation and the accumulation of external debt. Nigeria epitomizes many of these problems.
Generous comments and suggestions offered by members of the project team, particularly John Whalley, have been most helpful and are gratefully acknowledged. Remi Ogun and Iyiola Raheem provided valuable assistance throughout the preparation of the paper.
This is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Preview
Unable to display preview. Download preview PDF.
References
Anjaria, S.J. et al., (1985) Trade Policy Issues and Development, Occasional Paper 38 (Washington, DC: IMF) July.
Bertrand, T. and Robertson, J.W. (1981) The Structure of Industrial Incentives in Nigeria, 1979–80 (Washington, DC: World Bank).
Clarete, R. and Whalley, J. (1987) ‘Trade Restricting Effects of Exchange Rate Regimes: Implications for Developed-Developing Country Trade Negotiations’, Working Paper (London, Canada: CSIER, University of Western Ontario.
Corden, W.M. and Neary, J.P. (1982) ‘Booming Sector and Deindus-trialization in a Small Open Economy’, Economic Journal, 92 (December) pp. 825–47.
Helleiner, G.K. (1964) ‘The Fiscal Role of Marketing Boards in Nigerian Economic Development, 1947–61’, Economic Journal, 74, pp. 582–610.
MacBean, A. and Nguyen, D.T. (1985) ‘Commodity Price Instability: Evidence’, background paper for World Development Report 1986, (Washington, DC: World Bank).
Nankani, G. (1979) ‘Development Problems of Mineral-Exporting Countries’, World Bank Staff Working Paper No. 354 (Washington, DC: World Bank).
Neary, J.P. and van Wijnbergen, S. (eds) (1986) Natural Resources and the Macroeconomy (Cambridge, Mass.: MIT Press, Centre for Economic Policy Research).
Oyejide, T.A. (1975) Tariff Policy and Industrialization in Nigeria (Ibadan University Press).
Oyejide, T.A. (1986) World Bank Assistance to Nigerian Agriculture: A Review of Policy Analysis, Policy Advice and Lending Operations, MADIA Research Project Report (Washington, DC: World Bank).
Siebert, H. (ed.) (1984) The Resource Sector in an Open Economy (Berlin: Springer-Verlag).
Editor information
Editors and Affiliations
Copyright information
© 1989 John Whalley
About this chapter
Cite this chapter
Oyejide, T.A. (1989). Resource Exports, Adjustment Problems and Liberalization Prospects in Nigeria. In: Whalley, J. (eds) Developing Countries and the Global Trading System. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-20417-5_15
Download citation
DOI: https://doi.org/10.1007/978-1-349-20417-5_15
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-0-333-47302-3
Online ISBN: 978-1-349-20417-5
eBook Packages: Palgrave Economics & Finance CollectionEconomics and Finance (R0)