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The Effect Of External Devt On The Nigeria Economic Growth (1989-2010)
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1.3 OBJECTIVE OF THE STUDY.
The objectives of the study include:
I) To determine the relationship between external debt and economic growth in Nigeria.
II) To determine the impact of external debt on the economic growth in Nigeria.
III) To examine the size and trend of external debt on the economic growth in Nigeria.
1.4 RESEARCH HYPOTHESIS
I) H0: There is no relationship between external debt and economic growth in Nigeria.
ii) H0: There is no impact of external debt on economic growth in Nigeria.
iii) H0: External debt has no trend and size on the economic growth in Nigeria.
1.5 SIGNIFICANCE OF THE STUDY.
The
significance of the study has to do with the impacts or effects of the
study on the people. Therefore, the significance of this study seeks to
highlight on the following factors:
I) The study serves as a guide for future governmental policy on debt minimization and control.
ii)
Also the study will bring to notice on the entire citizens the impact
of the external debt on the welfare and living standard.
1.6 SCOPE OF THE STUDY
The
project covers the structures of Nigeria’s external debt, its
management techniques and some factors that contributed to the huge
debt. The time frame of this project is 1989-2009 was chosen because it
allows an analysis of the Structural Adjustment Programme (SAP) which
was at this period, partly solve the debt crisis and partly foster
sustainable economic growth.
1.7 LIMITATIONS OF THE STUDY
This
study is basically restricted to the effect of external debt on the
Nigeria economy growth. The research was not able to gather all the
necessary materials from all the secondary sources needed for the study
due to unforeseen circumstances resulting from time and financial
constraints.
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