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The Effect Of External Debt On Economic Growth Of Nigeria(1981-2010)
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1.3 STATEMENT OF HYPOTHESIS
HYPOTHESIS I
The following hypotheses are tested in this study:
Ho: That the external debt stock does not have impact on the economicgrowth of Nigeria.
HYPOTHESIS II
Ho: That the external debt service payment does not have an impact on economic growth of Nigeria.
1.4 SIGNIFICANCE OF THE STUDY
This
study is focused on providing alternative measures to tackling external
debt management problems. It will also serve as a tool in revamping
government policies towards loan procurement and debt servicing in
Nigeria. This work may also serve as a yardstick for further research
and documentation on Nigeria’s external debt crisis.
1.5 SCOPE AND LIMITATIONS OF THE STUDY
The
scope of this study shall cover the external debt trend of Nigeria over
the years to date. The general overview of the debt cancellation shall
be taken with certain issues raised and discussed.However, the empirical
investigation of the effect of external debt on the economic growth of
Nigeria shall be restricted to 1981 and 2010. This restriction is
unavoidable because of the non-availability of some data.
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ABSRACT - [ Total Page(s): 1 ]This work evolved out of the need to provide an in-depth understanding of the economics of debt in Nigeria. This study aims at analysing the effectiveness of external debt on economic growth within a span of 1981-2010. The broad objective of this work is specified to evaluate the impact of external debt stock and debt servicing on economic growth. In all, the models were to show the growth relationship between the independent variables-inflation rate, exchange rate, interest rate, government exp ... Continue reading---
