A Critical Analysis of the Insitutional Outcomes of Nigerias Economic Diplomacy

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Fasunwon Adebayo Folorunso
Fasunwon Adebayo Folorunso
α Adekunle Ajasin University Adekunle Ajasin University

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A Critical Analysis of the Insitutional Outcomes of Nigerias Economic Diplomacy

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Abstract

Economic Diplomacy was used as a an instrument of foreign policy execution in Nigeria with the aim of achieving national development. This study, while using the political economy approach therefore, investigated the institutional outcomes of this instrument in areas of debt management, Gross Domestic Product (GDP employment, and external reserves. Secondary sources of data which include publications of Central Bank of Nigeria, Africa Peer Review Mechanism country report and press reports were used to critically analyse the observed institituional outcomes of economic diplomacy. Economic diplomacy resulted in reduced debts, increases in the nation’s GDP, and external reserves. However, the level of poverty and unemployment was not positively affected by economic diplomacy. This study therefore recommends that subsequent employment of economic diplomacy should be targeted at the substantial improvements of the peoples’ socio-economic status.

References

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Funding

No external funding was declared for this work.

Conflict of Interest

The authors declare no conflict of interest.

Ethical Approval

No ethics committee approval was required for this article type.

Data Availability

Not applicable for this article.

How to Cite This Article

Fasunwon Adebayo Folorunso. 2015. \u201cA Critical Analysis of the Insitutional Outcomes of Nigerias Economic Diplomacy\u201d. Global Journal of Human-Social Science - F: Political Science GJHSS-F Volume 15 (GJHSS Volume 15 Issue F1): .

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Issue Cover
GJHSS Volume 15 Issue F1
Pg. 25- 32
Journal Specifications

Crossref Journal DOI 10.17406/GJHSS

Print ISSN 0975-587X

e-ISSN 2249-460X

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GJHSS-F Classification: FOR Code: 360199
Version of record

v1.2

Issue date

February 21, 2015

Language
en
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Economic Diplomacy was used as a an instrument of foreign policy execution in Nigeria with the aim of achieving national development. This study, while using the political economy approach therefore, investigated the institutional outcomes of this instrument in areas of debt management, Gross Domestic Product (GDP employment, and external reserves. Secondary sources of data which include publications of Central Bank of Nigeria, Africa Peer Review Mechanism country report and press reports were used to critically analyse the observed institituional outcomes of economic diplomacy. Economic diplomacy resulted in reduced debts, increases in the nation’s GDP, and external reserves. However, the level of poverty and unemployment was not positively affected by economic diplomacy. This study therefore recommends that subsequent employment of economic diplomacy should be targeted at the substantial improvements of the peoples’ socio-economic status.

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A Critical Analysis of the Insitutional Outcomes of Nigerias Economic Diplomacy

Fasunwon Adebayo Folorunso
Fasunwon Adebayo Folorunso Adekunle Ajasin University

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