Global shocks potentially distort economy’s achieved equilibria. Considering the 2020 global crude oil price shock and the 2019 coronavirus disease pandemic, this study proposes an energy and environment integrated general equilibrium model to analyze the economic, energy, and environmental effects of these global shocks on Nigeria, a developing, oil-producing, oil-dependent, and oil-exporting country. Furthermore, the mitigating roles of a fiscal stimulus–response package (palliative) are investigated and analyzed. Generally, the developed model predicts a decline in the level of economic activities. The study results are unsurprising due to Nigeria’s heavy reliance on crude oil. However, sectorial-specific impacts exist as some sectors experience output declines while others do not. Environmental quality is improved since more carbon is abated, nonetheless. Carbon intensities increased given that the price effects outweighed the quantity effects— reduced emission results from reduced economic activities and not from technological progress. The results further show a revenue-abatement paradox; a fixed carbon tax approach minimizes the tax revenue loss but may discourage carbon abatement. Conversely, the ad valorem and specific carbon tax systems encourage carbon abatement but reduce carbon tax revenues. The government’s fiscal policy stimulus–response (palliative) action dampens the impact of these global shocks on both the domestic agents and the overall economy. The results are robust and can be applied to the experiences of other developing oil-producing, oil-exporting, and oil-dependent economies.

中文翻译：

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全球冲击和财政刺激：一个依赖石油的出口国的故事

全球冲击可能会扭曲经济已实现的平衡。考虑到2020年全球原油价格冲击和2019年冠状病毒疾病大流行，本研究提出了一个能源和环境综合一般均衡模型，以分析这些全球冲击对尼日利亚这个发展中石油生产国的经济、能源和环境影响。石油依赖国和石油出口国。此外，还对财政刺激响应计划（姑息性）的缓解作用进行了调查和分析。一般来说，所开发的模型预测经济活动水平下降。由于尼日利亚严重依赖原油，该研究结果并不令人意外。然而，由于某些行业产出下降，而另一些行业则没有，因此存在特定行业的影响。尽管如此，由于减少了更多的碳排放，环境质量得到了改善。由于价格效应超过了数量效应，碳强度增加——排放量减少是经济活动减少而非技术进步的结果。结果进一步表明收入减少悖论；固定碳税方法可以最大限度地减少税收损失，但可能会阻碍碳减排。相反，从价税和从量碳税制度鼓励碳减排，但减少了碳税收入。政府的财政政策刺激响应（姑息性）行动减轻了这些全球冲击对国内主体和整体经济的影响。结果很可靠，可以应用于其他发展中石油生产国、石油出口国和石油依赖经济体的经验。