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标题：An Empirical Analysis of Fiscal Deficits and Inflation in Nigeria
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作者：VINCENT N. EZEABASILI ; JOSEPH N. MOJEKWU ; WILSON E. HERBERT 等
期刊名称：International Business and Management
印刷版ISSN：1923-841X
电子版ISSN：1923-8428
出版年度：2012
卷号：4
期号：1
页码：105-120
DOI：10.3968/j.ibm.1923842820120401.0185
出版社：Canadian Research & Development Center of Sciences and Cultures
摘要：The relationship between fiscal deficits and inflation has provoked considerable interest in the macroeconomics literature. While the theory postulates that fiscal deficits lead to inflation, empirical research has been less conclusive about the relationship. This paper reexamines the issue in the context of a developing country, Nigeria, using data over 1970–2006, a period of persistent inflationary trends. We adopted a modeling approach that incorporates cointegration techniques and structural analysis. The results reveal a positive but insignificant relationship between inflation and fiscal deficits in Nigeria. We did not also find any strong evidence linking past levels of fiscal deficits with inflation in Nigeria during the period. Rather, we report a positive long run relationship between money supply and inflation in the Nigerian economy, suggesting that money supply is procyclical and tends to grow at a faster rate than inflation rate. Key words: Fiscal deficit; Inflation; Cointegration; Money supply; Nigeria
关键词：Fiscal deficit;Inflation;Cointegration;Money supply;Nigeria