Appraising the Efficacy of Contemporary Public Budget Reforms in Africa –The case of Nigeria
No Thumbnail Available
Date
2023
Authors
Iwegbu, O.
Nwokoma, N.I.
Journal Title
Journal ISSN
Volume Title
Publisher
WRFASE International Conference
Abstract
This study examines the efficacy of contemporary public budget reforms in Africa over the 2011-2019 period using Nigeria as a case study. It examines the timeliness of the budget process through the period of it being signed into law and its implementation. It also examines the effect of government spending on economic growth. The exploratory style of investigation was used in the analysis in addition to the ordinary least square estimation techniques used in determining the causality effects of government spending and economic growth. Findings from the study show that capital expenditure significantly and positively enhances economic performance over the period while the current expenditure does not. In addition, results show that the disciplined implementation significantly improves economic growth though the actual macroeconomic indicators largely fell short of the budget assumptions. Most of the budget categories also performed below expectations. It is thus recommended that attention should be placed in addressing the causative factors of poor budget efficacy such as issues of projects duplication, budget padding and misplacing of project priorities among others. This will improve the performance of the budget and ensure sustained economic growth.
Description
WRFASE International Conference, New York, USA
Keywords
Citation
Iwegbu, O., & Nwokoma, N.I. (2023). Appraising the efficacy of contemporary public budget reforms in Africa – The case of Nigeria. WRFASE International Conference, New York, USA