STRUCTURE AND COMPOSITION OF DOMESTIC DEBT AND THE IMPACT ON PRIVATE INVESTMENT IN NIGERIA.

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  • Department: Economics
  • Project ID: ECO0816
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ABSTRACT 

This study sets out to investigate and elaborate the empirical issues pertaining to the structure and composition of domestic debt and its impact on private investment in Nigeria. The study employed multiple regression models using secondary data from 1970 to 2012. The study found that domestic debt has inverse significant impact on domestic private investment in Nigeria. Results also show that domestic debt has inverse significant impact on foreign private investment in Nigeria with exchange rate and debt servicing having positive effect on foreign private investment in Nigeria. The study concludes that domestic debt if unchecked crowds-out private investment in Nigeria.


TABLE OF CONTENT

Title page -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- - i

Certification -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- - ii

Dedication -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- - iii

Acknowledgement-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- iv

Abstract -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- v

Table of Content -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- - vi

CHAPTER

INTRODUCTION

1.1 Background of the Study -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 1

1.2 Statement of the Problem -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 3

1.3 Objective of the Study -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 5

 1.4 Hypotheses of the Study -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 6

 1.5 Policy Relevance of the Study -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 6

 1.6 Scope of the Study -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 6

CHAPTER TWO

LITERATURE

2.1 Conceptual Framework -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 7

2.2 Theoretical Framework -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 8

2.2.1 The Traditional Neoclassical Growth and Capital Mobility Theory -- -- -- -- -- 8

2.2.2 Debt Overhang- Hang Theory -- -- -- - -- -- -- -- -- -- -- -- -- -- -- - 8

2.2.3 The Crowding- Out Thesis -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- - 9

2.3 Empirical Litrature

2.3.1 Debt, Investment and Economic Growth -- -- -- -- -- -- -- -- - 10

2.3.2 Debt Over-Hang and Investment -- -- -- -- -- -- -- -- -- -- -- -- - 12

2.3.3 Nigeria Studies -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 14

2.3.4 Summary of Finding and Limitation of previous studies -- -- -- -- -- -- 18

 CHAPTER THREE

METHODOLOGY AND DATA

3.1 Methodological framework -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 19

3.2 Model Specification -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 20

3.3 Definition of Variables-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 21

3.4 Justification of Model -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 22

3.5 Estimation Procedure -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 23

3.6 The Data Set -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 23

CHAPTER FOUR

PRESENTATION OF EMPIRICAL RESULT

4.1 Model 1 -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- - 24

4.1.1 The impact of Domestic Debt on Domestic Private Investment in Nigeria - - 24

4.1.2 Coefficient of Determination (R2) -- -- -- - -- -- -- -- -- -- -- -- -- -- -- -- -- --26

4.1.3 The F-Test ---------- -- -- -- -- -- -- -- -- -- --- --- --- -- -- -- -- -- -- -- - 26

4.1.4 Test for Autocorrelation -- -- -- -- -- -- ---------- ------ ------ --- --- -- -- -- - 26

4.1.5 Cointegration Test Result for Model 1 -- -- -- -- -- -- -- -- -- -- -- -- - 28

4.2.1 The Impact of Domestic Debt on Foreign Investment --- -- -- -- --- ----- --- -- 29

4.2.2 Coefficient of Determination (R2) - -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 31

4.2.3 The F-Test -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 31

4.2.4 Test for Autocorrelation -- -- -- -- -- -- ---------- ------ ------ --- --- -- -- -- 32

4.2.5 Cointegration Test Result for Model 2 -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 33

4.2.6 The Error Correction Model (ECM) for Model 2 -- --- -- -- -- -- -- -- -- -- -- 33

4.2.7 Unit Root Test Result -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- ---- -- -- -- -- -- -- 34

4.3.1 Trend Between Domestic Debt and Private Investment in Nigeria ---- -- -- -- 36

4.4 Methods of Financing / Managing Domestic Debt in Nigeria -- -- -- -- -- -- -- 37

4.5 Evaluation of Research Hypotheses -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 38

4.6 Summary of major findings -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- - 39

CHAPTER FIVE

SUMMARY, POLICY RECOMMENDATIONS AND CONCLUSION

5.1 Summary of findings -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 40

5.2 Policy Recommendation -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 41

5.3 Conclusion -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- - 42

 References -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 43

 Appendices -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 47

STRUCTURE AND COMPOSITION OF DOMESTIC DEBT AND THE IMPACT ON PRIVATE INVESTMENT IN NIGERIA.
For more Info, call us on
+234 8130 686 500
or
+234 8093 423 853

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  • Type: Project
  • Department: Economics
  • Project ID: ECO0816
  • Access Fee: ₦5,000 ($14)
  • Pages: 71 Pages
  • Format: Microsoft Word
  • Views: 222
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    Type Project
    Department Economics
    Project ID ECO0816
    Fee ₦5,000 ($14)
    No of Pages 71 Pages
    Format Microsoft Word

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