External Debt on Economic Growth in Nigeria Using the Dual Gap Model for the 1980-2015
Journal Title: International Journal of Humanities and Social Science Invention - Year 2018, Vol 7, Issue 5
Abstract
The study investigated the impact of external debt on economic growth in Nigeria using the Dual Gap model for the period 1980-2015. The techniques of Estimation employed in the study include Augmented Dickey Fuller (ADF) test, Granger Causality Test and Impulse response analysis. The results showed no causal relationship between external debt and economic growth in Nigeria. From the Impulse response analysis it was seen that External debt impacts negatively on economic growth, it was also observed that domestic savings and aggregate investment had no influence on economic growth.Consequently, the study recommends that, government should embark on prudent borrowing and should look inward for policies that will stimulate domestic savings and encourage aggregate investment.
Authors and Affiliations
Joyce Adaku Chukwuma- Ogbonna, Emerenini F. M, ogbonnachukwuma . G
Keywords
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