THE ECONOMIC IMPLICATION OF INCREASING EXTERNAL DEBT LIABILITY IN NIGERIA
- Project Research
- 1-5 Chapters
- Quantitative
- Regression
- Abstract : Available
- Table of Content: Available
- Reference Style: APA
- Recommended for : Student Researchers
- NGN 5000
ABSTRACT
The study explores the economic implication of increasing external debt liability in Nigeria. Time series data on external debt stock and external debt service was used to capture external debt burden . The objective of this study was to see if there was a long-run and causal relationship between external debt liability and Nigerian economic growth. From 1999 to 2020, time series data on Real Gross Domestic Product, External Debt Stock, External Debt Payments, and Exchange Rate were used to perform an empirical study. The Augmented Dickey Fuller (ADF) test, Johansen Co-integration, Vector Error Correction Mechanism, and Granger Causality Test were among the estimation techniques used in the study. External debt and economic development in Nigeria have a negligible long-run relationship and a bi-directional relationship, according to the findings.
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