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Economic & Sector Work :: Country Economic Memorandum

Nigeria - Competitiveness and Growth : Country Economic Memorandum, Volume 1. Executive Summary

ACCESS TO CAPITAL ACCOUNTING AGRICULTURE ARREARS AUCTION SYSTEM BANK LIQUIDITY BANKING SECTOR BENCHMARK BENCHMARKING BENCHMARKS BINDING CONSTRAINT BINDING CONSTRAINTS BLUE CHIP BOND BOND MARKET BOOM-BUST CYCLES BUSINESS CLIMATE BUSINESS ENVIRONMENT CAPACITY BUILDING CAPITAL BASE CAPITAL MARKET CAPITAL MARKET DEVELOPMENT CAPITAL MARKETS COMMERCIAL CONTRACTS COMPETITIVE ADVANTAGE COMPETITIVENESS CONSOLIDATION PROCESS CONSUMERS CONTRACT ENFORCEMENT CORPORATE BOND CORPORATE BOND ISSUES COST EFFECTIVENESS CREDIBILITY CREDIT HISTORY CREDIT QUALITY CREDITOR CREDITOR RIGHTS CURRENT ACCOUNT BALANCE CURRENT ACCOUNT SURPLUSES DEBT DEBT ACCUMULATION DEBT AGREEMENT DEBT OVERHANG DEBT RELIEF DEFAULT RISK DEFICITS DEMOCRATIC INSTITUTIONS DEPOSIT DEPOSITS DOCUMENTATION REQUIREMENTS DOMESTIC ECONOMY DOMESTIC MARKET DOMESTIC MARKETS DURABLE DUTCH AUCTION ECONOMIC DEVELOPMENT ECONOMIC DEVELOPMENTS ECONOMIC PERFORMANCE ECONOMIC PROGRESS EMERGING ECONOMIES ENTERPRISE PERFORMANCE EQUIPMENT EQUITY FUNDS EXCESS LIQUIDITY EXCHANGE RATE EXCHANGE RATES EXISTING INFRASTRUCTURE EXPENDITURE EXPENDITURES EXPORT MARKETS EXPORT PERFORMANCE EXPORTER EXPORTS EXTERNAL DEBT FEDERAL AGENCY FINANCIAL HEALTH FINANCIAL INSTITUTIONS FINANCIAL MANAGEMENT FINANCIAL MARKET FINANCIAL SECTOR FINANCIAL SECTOR DEVELOPMENT FINANCIAL SYSTEM FISCAL DEFICIT FISCAL DISCIPLINE FISCAL POLICY FOREIGN COMPANIES FOREIGN EXCHANGE FOREIGN EXCHANGE MARKETS FOREIGN EXCHANGE RESERVES FOREIGN EXCHANGE TRANSACTIONS FOREIGN MARKETS GDP GDP PER CAPITA GLOBAL MARKET GLOBAL MARKETS GLOBAL STANDARDS GOVERNMENT ACTION GOVERNMENT BUDGETS GOVERNMENT FUNDING GOVERNMENT POLICY GOVERNMENT SPENDING GOVERNMENT SUPPORT HUMAN CAPITAL INCOME INCOMES INFLATION INFORMAL ECONOMY INFORMATION TECHNOLOGY INFRASTRUCTURE PROJECTS INSTITUTIONAL CAPACITY INSURANCE INSURANCE INDUSTRY INTEREST RATE INTEREST RATE VOLATILITY INTEREST RATES INTERNATIONAL TRADE INVESTMENT BEHAVIOR INVESTMENT CLIMATE INVESTMENT IN GOVERNMENT SECURITIES INVESTMENT OPPORTUNITIES INVESTMENT PROJECTS INVESTMENT STRATEGIES JOB CREATION JUDICIAL SYSTEM JURISDICTIONS LABOR MARKET LARGE-SCALE INVESTMENT LEGAL MECHANISMS LEVIES LEVY LIBERALIZATION LIFE EXPECTANCY LIQUID ASSETS LIQUID SECONDARY MARKET LIQUIDITY LOAN LOAN MATURITIES LOCAL CURRENCY LOCAL GOVERNMENT LOCAL GOVERNMENTS LONG TERM FINANCE LONG-TERM INVESTMENT MACROECONOMIC INSTABILITY MACROECONOMIC LEVEL MACROECONOMIC MANAGEMENT MACROECONOMIC POLICIES MACROECONOMIC POLICY MACROECONOMIC VARIABLES MACROECONOMIC VOLATILITY MARKET ACCESS MARKET FAILURES MARKET SHARE MATURITY MICROENTERPRISES MIDDLE INCOME COUNTRIES MINIMUM CAPITAL REQUIREMENTS MONETARY POLICY MONOPOLY MORTGAGE MORTGAGE FINANCE NATURAL RESOURCE OIL BOOM OIL PRICE OIL PRICES OIL RESOURCES OUTPUT OUTSOURCING OUTSTANDING CREDIT PENSION PENSION REFORM PENSIONS POLITICAL ECONOMY PRICE VOLATILITY PRIVATE SECTOR DEVELOPMENT PRIVATE SECTOR GROWTH PRODUCTIVE INVESTMENTS PRODUCTIVITY PRODUCTIVITY GROWTH PROPERTY RIGHTS PUBLIC DEBT PUBLIC INVESTMENT RAPID EXPANSION RAPID GROWTH REAL EXCHANGE RATE REAL EXCHANGE RATES REFORM PROGRAM REGIONAL TRADE REGISTRATION PROCESS REGULATOR REGULATORY ENVIRONMENT REINVESTMENT RENT SEEKING RETURN RETURNS RURAL INFRASTRUCTURE SAVINGS SECONDARY MARKET SHORT-TERM BORROWING SIDE EFFECTS SMALL BUSINESSES SOVEREIGN BONDS STOCK EXCHANGE SUBORDINATED DEBT TAX TAX COLLECTION TAX POLICY TAX RATE TAX SYSTEM TAXATION TELECOMMUNICATIONS TOTAL FACTOR PRODUCTIVITY TRADE POLICY TRADING TRANSACTION TRANSACTION COST TRANSPARENCY TRANSPARENT GOVERNANCE UNEMPLOYMENT VALUE ADDED WAGES WEALTH WITHDRAWAL WTO
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Washington, DC
Africa | Nigeria
2012-06-12T16:43:34Z | 2012-06-12T16:43:34Z | 2007-05

The theme of this report is Nigeria's competitiveness and growth. This report consequently focuses on constraints, opportunities and strategic choices associated with increasing productivity and growth of the Nigerian economy on a sustained basis. Its objective is not to present a "blueprint" for Nigeria's growth but rather to raise issues and provide some options for the consideration of policy makers and other Nigerian stakeholders. The report is structured in four main sections. The first section analyzes Nigeria's growth history, examines the recent growth pick up and assesses its sustainability. The second section analyses how the critical constraints to competitiveness and growth may be addressed. The third section discusses how trade -domestic and external - can be used more effectively to drive growth and poverty reduction. The final chapter provides policy conclusions and suggestions on what could be key elements of a growth agenda for Nigeria. The analysis in this report suggests the following key elements for a growth strategy for Nigeria: 1) Strengthening actions to tackle the most immediate constraints to the competitiveness of the economy presented by infrastructure and the business environment; 2) Using domestic trade more effectively to enhance productivity and competitiveness by strengthening their functioning, and building stronger linkages between the oil and non-oil sectors, and over time strengthening Nigeria's integration into global markets; 3) Ensuring that the poor can participate more fully in growth by placing urgent emphasis on (i) finding ways to give back some of the proceeds of oil windfall directly to Nigerians; (ii) raising agricultural productivity-including through enhanced technology; and (iii) encouraging the transition from informality to the formal sector; and 4) Building the human capital and technological base of the economy over the longer term.

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