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dc.contributor.authorAdenikinju, Adeola
dc.contributor.authorFalobi, Niyi
dc.coverage.spatialNigeriaen_GB
dc.date.accessioned2013-06-06T15:36:57Z
dc.date.available2013-06-06T15:36:57Z
dc.date.issued2006
dc.identifier.citationAdenikinju, Adeola F. and Niyi Falobi (2006) Macroeconomic and distributional consequences of energy supply shocks in Nigeria. AERC research paper 162, Nairobi : AERCen_GB
dc.identifier.urihttps://opendocs.ids.ac.uk/opendocs/handle/20.500.12413/2674
dc.description.abstractIn spite of its vast oil endowments, Nigeria continues to experience sporadic domestic oil supply shortages. These oil shortages manifest in regular queues at fuel stations that are often empty and in thriving parallel markets that sprout all over the country. The shortages have resulted in huge economic and non-economic costs to the economy. This study investigates the causes of the shortages and provides quantitative estimates of the economic costs to the Nigerian economy using a survey and a computable general equilibrium (CGE) model. The findings from this study show very clearly that oil sector supply shocks are costly both directly and indirectly. Oil supply shocks result in lower real GDP, higher average prices and greater balance of payment deficits. Other macroeconomic variables such as private consumption, investment, government revenue and employment also decline. In addition, the distributional impact of the quantitative energy supply shocks is higher for poor households than rich households. We also find that the sectoral impacts are mixed, often depending on the oil intensity of the sector. Finally, our survey results show that many economic agents on (he demand side are willing to pay higher prices if that will guarantee a stable oil supply. Few players in the market chain benefit from supply disruptions, while consumers and the poor bear the main burden of these shocks.en_GB
dc.language.isoenen_GB
dc.publisherAfrican Economic Research Consortiumen_GB
dc.relation.ispartofseriesAERC research paper;162
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/3.0/en_GB
dc.subjectEconomic Developmenten_GB
dc.subjectIndustrial Developmenten_GB
dc.subjectPopulationen_GB
dc.titleMacroeconomic and distributional consequences of energy supply shocks in Nigeriaen_GB
dc.typeSeries paper (non-IDS)en_GB
dc.rights.holderAfrican Economic Research Consortiumen_GB
dc.identifier.koha177082


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