The Impact of Nigeria's External Debt on Economic Development.

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dc.contributor.authorAdegbite, E. O
dc.contributor.authorAyadi, F.S
dc.contributor.authorAyadi, O. F.
dc.date.accessioned2017-11-10T13:16:12Z
dc.date.available2017-11-10T13:16:12Z
dc.date.issued2008
dc.descriptionTo access the full text of this article, kindly contact the University Librarian- Dr. Olukemi Fadehan via the administrators: Dr. Yetunde Zaid (yzaid@unilag.edu.ng) or Dr. Christopher Okiki (cokiki@unilag.edu.ng) of the University of Lagos Library.en_US
dc.description.abstractPurpose – This paper aims to investigate the impact of huge external debt with its servicing requirements on economic growth of the Nigerian economy so as to make meaningful inference on the impact of the debt relief which was granted to the country in 2006. Design/methodology/approach – The neoclassical growth model which incorporates external sector, debt indicators and some macroeconomic variables was employed in this study. The paper investigates the linear and nonlinear effect of debt on growth and investment utilizing the ordinary least squares and the generalized least squares. Findings – Among other things, the negative impact of debt (and its servicing requirements) on growth is confirmed in Nigeria. In addition, external debt contributes positively to growth up to a point after which its contributions become negative reflecting the presence of nonlinearity in effects. Originality/value – Nigeria's external debt is analyzed in a new context utilizing a different but innovative model and econometric techniques. It is of tremendous value to researchers on related topic and an effective policy guide to policymakers in Nigeria and other countries with similar characteristics.en_US
dc.identifier.citationAdegbite, E. O. ; Ayadi, F.S.; Ayadi, O. F. (2008) "The impact of Nigeria's external debt on economic development", International Journal of Emerging Markets, Vol. 3(3) p.285-301en_US
dc.identifier.issn1746-8809
dc.identifier.uriwww.emeraldinsight.com/doi/abs/10.1108/17468800810883693
dc.identifier.urihttps://doi.org/10.1108/17468800810883693
dc.identifier.urihttps://www.researchgate.net/.../235679833_The_Impact_of_Nigeria's_External_Debt_o..
dc.identifier.urihttp://ir.unilag.edu.ng:8080/xmlui/handle/123456789/2858
dc.language.isoenen_US
dc.publisherEmerald Group Publishing Limiteden_US
dc.relation.ispartofseriesStaff Publication;
dc.subjectNigeriaen_US
dc.subjectEconomic developmenten_US
dc.subjectDebtsen_US
dc.subjectDebt financingen_US
dc.subjectInvestmentsen_US
dc.titleThe Impact of Nigeria's External Debt on Economic Development.en_US
dc.typeArticleen_US
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