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 |
Files in This Item:
File | Description | Size | Format | |
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Pages from CBN ECONOMIC AND FINANCIAL REVIEW OF MARCH 2006-4 Aloysius Ajab Amin & Isa Audu.pdf | 333.12 kB | Adobe PDF | ![]() View/Open |
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