A RE-EXAMINATION OF THE TWIN DEFICIT PHENOMENON IN THE NIGERIAN ECONOMY
ABSTRACT This study examines the twin deficit hypothesis for the Nigerian economy, an oil dependent economy, for the period 1970 to 2010 by looking at the long run relationship between budget deficit and current account deficit and the direction of causality. The study employed the Johansen Co-integration method and the multivariate Granger causality test to examine this relationship. In conformity with theoretical considerations, the analysis of the study reveals that ...
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