Rate of economic growth-a measure of macroeconomic volatility : case Nigeria's drive for foreign direct investment
Uchenna Francis Ogakwu
Date of Issue2006
S. Rajaratnam School of International Studies
This redefinition of Nigeria's political economy came after more than three decades of practicing the mixed economy model, during which the economy plummet. Institutional decay and the underdevelopment of the private sector were some of the unanticipated consequences. The state-managed infrastructures were decrepit and represented a massive waste and the biggest hindrance to economic growth. The current economic, social and political reforms by the government especially the Privatization and Commercialisation programme, are all efforts to free its economy from the stranglehold of past economic inefficiencies, clearly depicting a conscious awareness about the limitations of state-controlled economic system.
DRNTU::Social sciences::Economic development
Nanyang Technological University