THE EFFECT OF EXTERNAL DEBT BURDEN ON GROWTH AND POVERTY IN NIGERIA (1980 - 2015)

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  • Department: Economics
  • Project ID: ECO1017
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ABSTRACT

This study analyzes the effect of external debt burden on growth and poverty in Nigeria within the framework of the error correction model, using annual time series data from 1980 - 2015. The study reveals that economic growth and poverty in Nigeria and their hypothesized determinant are generally I (1) series, with one co-integration equations existing among their linear combinations. Our results show that, the variables in the model, debt overhang, stock of external debt, and public debt service are positively related to increase gross domestic product in model 1, while in model two only external debt stocks is positively related to poverty as proxy with per-capital real gross domestic product in the country. Overall the variables account for 65% and 63% of the variation in gross domestic product and poverty and they are highly significant at 5% as shown by the F-statistic (p < 0.05). The coefficient of the ECM behaved well in both model, having its expected negative sign and is significant at 5%. However, the speed of adjustment is relatively high in model two. In order to increase the level of economic growth and thus reduce the poverty, the following recommendations are made: A conducive macroeconomic policy environment, Improve political and social stability, Reduction of hassle costs and Sound fiscal policy

 

  • TABLE OF CONTENTS
    Pages
    Title Page
    Certificationii
    Dedication iii
    Acknowledgementsiv
    Abstract v
    Table of Contents vi
    List of Tables viii
    List of Figures ix
    CHAPTER ONE: INTRODUCTION
    1.1Background of the Study1
    1.2Statement of the Problem3
    1.3Objectives of the Study5
    1.4Research Questions 5
    1.5 Research Hypotheses6
    1.6Significant of the Study7
    1.7Scope of the Study7
    1.8Organization of the study8
    1.9Definition of Terms8
    CHAPTER TWO: LITERATURE REVIEW
    2.1Conceptual and Theoretical Review8
  • 2.2Empirical Review14
    2.3Implication of Review on the Current Study19
    CHAPTER THREE: THEORETICAL FRAMEWORK AND METHODOLOGY
    3.0 Introduction 20
    3.1 Model Specification 20
    3.2Explanation of variable 22
    3.3 Estimation technique and unit root test 23
    3.4 Source and measurement of data 23
    CHAPTER FOUR: DATA PRESENTATION AND ANALYSIS
    4.1Presentation of Results26
    4.2Discussion of Results36
    4.3Comparison of Results with Previous Studies39
    4.4 Summary of Findings
    CHAPTER FIVE: SUMMARY RECOMMENDATIONS AND CONCLUSION
    5.1Summary 41
    5.2Conclusion42
    5.3Recommendations42
    5.4Limitations of the Study43
    5.5Suggestions for Further Study43
    References44
    Appendix
THE EFFECT OF EXTERNAL DEBT BURDEN ON GROWTH AND POVERTY IN NIGERIA (1980 - 2015)
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: ECO1017
  • Access Fee: ₦5,000 ($14)
  • Pages: 84 Pages
  • Format: Microsoft Word
  • Views: 137
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    Details

    Type Project
    Department Economics
    Project ID ECO1017
    Fee ₦5,000 ($14)
    No of Pages 84 Pages
    Format Microsoft Word

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