International records / OpenAlex research

Macroeconomic Stabilization and the Policy Mix: Evaluating the Fiscal Consequences of Central Bank Deficit Financing Under Nigeria’s FRA 2007 Framework

This study evaluates the macroeconomic policy mix in Nigeria by analyzing the fiscal consequences of Central Bank of Nigeria (CBN) direct deficit financing under the constraint of the Fiscal Responsibility Act (FRA) of 2007. Utilizing an uninterrupted annual time-series dataset spanning from 1999 to 2026, the study specifies an Autoregressive Distributed Lag (ARDL) Bounds Testing framework driven by fiscal theory of the price level (ftpl), unpleasant monetarist arithmetic and new keynesian policy mix framework theoretical lenses. Macro-fiscal metrics were compiled from the Debt Management Offi…