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FISCAL POLICY: ITS IMPACT ON ECONOMIC GROWTH IN NIGERIA 1970 TO 2006
This study involves comparative analysis of the impact of fiscal policy on economic growth in Nigeria during regulation and deregulation periods. Econometric analysis of time series data from Central Bank of Nigeria was conducted. Results obtained showed that there is a difference in the effectiveness of fiscal policy in stimulating economic growth during and after regulation periods. The impact was marginally higher (only N140 million or 14% contribution to GDP) during deregulation, than in the regulation period. We recommend appropriate policy mix, prudent public spending, setting of achievable fiscal policy targets and diversification of the nation’s economic base, among others.
Key words: Fiscal policy, regulation, deregulation, economic growth.