@inproceedings{bec355ddcd6d4eb39e96b1dddd934763,
title = "Effect of external debt on economic growth: Evidence from Nigeria",
abstract = "The study seeks to determine the effect of external debt on economic growth in Nigeria. Specifically, the study examines whether external borrowings and its major determinants like exchange rate, gross fixed capital formation and inflation rate have supported the growth of the Nigerian economy. The parameters of the model were estimated using the ordinary least squares method. The robustness of the result was enhanced using the generalized least squares technique. The result shows evidence of significant positive correlation between economic growth and the explanatory variables namely external debt, exchange rate and inflation rate. A negative correlation was however observed between economic growth and gross fixed capital formation. The regression estimates for both the ordinary and generalized least squares tests show significant positive impact of external debt, exchange rate and inflation rate on economic growth. The results also show non-significant negative effect of gross fixed capital formation on economic growth. The study concludes the external debt has significantly promoted economic growth in Nigeria.",
keywords = "Economic growth, Exchange rate, External debt, Gross fixed capital, Inflation rate",
author = "Uchenna, {Okoye Lawrence} and {Modebe Nwanneka}, J. and Adedayo, {Erin Olayinka} and {Evbuomwan Grace}, O.",
year = "2017",
language = "English",
series = "Proceedings of the 29th International Business Information Management Association Conference - Education Excellence and Innovation Management through Vision 2020: From Regional Development Sustainability to Global Economic Growth",
publisher = "International Business Information Management Association, IBIMA",
pages = "4046--4058",
editor = "Soliman, {Khalid S.}",
booktitle = "Proceedings of the 29th International Business Information Management Association Conference - Education Excellence and Innovation Management through Vision 2020",
note = "29th International Business Information Management Association Conference - Education Excellence and Innovation Management through Vision 2020: From Regional Development Sustainability to Global Economic Growth ; Conference date: 03-05-2017 Through 04-05-2017",
}
