Please use this identifier to cite or link to this item: https://library.cbn.gov.ng:8443/jspui/handle/123456789/134
Title: External Debt, Investment and Economic Growth: evidence from Nigeria
Authors: Amin, Aloysius Ajab
Audu, Isa
Keywords: External Debt
Economic Growth
Public Investment
Nigeria
Issue Date: Mar-2006
Publisher: Research Department, Central Bank of Nigeria
Citation: Amin, Aloysius Ajab & Audu, Isa, (2006). External Debt, Investment and Economic Growth: evidence from Nigeria. Economic and Financial Review, 44(1), 99-136.
Series/Report no.: Economic and Financial Review;Vol. 44, No.1
Abstract: This paper studies the impact of external indebtedness on Nigeria’s economic performance. We find supportive evidence for the crowding out and debt overhang hypotheses in Nigeria. Based on these results, the paper concludes that the prospects of resolving the debt crisis in Nigeria will depend on deeper debt relief, diversification of export base and substantial direct foreign investment. Debt relief will enable the country to use the lean foreign exchange earnings to procure the badly needed inputs for the industrial sector and upgrading of infrastructures. However, without a stable political and macroeconomic environment, efforts at reducing the external debt burden may not be very successful.
URI: http://library.cbn.gov.ng:8092/jspui/handle/123456789/134
ISSN: 1957-2968
Appears in Collections:Economic and Financial Review

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