Volume 11 - Volume 11
External Debt Management and Economic Development in Nigeria
Abstract
This study empirically analyzed external debt management and economic development in Nigeria.
The data employed in this study were collected from the CBN statistical bulletin annual report. The
study employed Real Gross Domestic Product as the independent variable, while External Debt
service, Balance of Payment, External Debt, and Exchange Rate were used as independent variables.
The estimation technique employed in this study was Ordinary least squares (OLS) multiple
regression method. The findings of this study revealed that external debt management recorded a
positive and significant impact on economic development in Nigeria over review period. The study
recommended that government of Nigeria should strike a balance between the acquisition of external
debt and usage of same for projects that will culminate to enhancement of economic growth and
development in Nigeria.
Paper Details
PaperID: 2527
Author's Name: Ugwuanyi, Geogina Obinne, Ugwuanyi, Wilfred, N.J, Efanga, Udeme Okon and Agbaeze, Clifford Chilasa
Volume: Volume 11
Issues: Volume 11
Keywords: External Debt Management, External Debt Service Payment, Economic Development.
Year: 2021
Month: August
Pages: 5027-5044