External Debt Management and Macroeconomic Variables Performance in Nigeria
Publish place: Iranian Economic Review Journal، Vol: 27، Issue: 2
Publish Year: 1402
نوع سند: مقاله ژورنالی
زبان: English
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شناسه ملی سند علمی:
JR_IER-27-2_005
تاریخ نمایه سازی: 21 مهر 1402
Abstract:
The study focused on the relationship between external debt management and basic macroeconomic variables performance in Nigeria. The variables for the study span the period ۱۹۸۶-۲۰۱۸ where external debt is the dependent variable while balance of payment, inflation, unemployment exchange rate, and real gross domestic product as independent variables. The study employs cointegration and Vector Error Correction Mechanism (VECM) methods. The findings revealed that balance of payment, inflation, and unemployment were the most important determinants of external debt in the long run in Nigeria. The study concluded with empirical evidence that trends in macroeconomic variables can be used to predict the movement of external debt to a great extent in Nigeria. The study therefore recommended that external borrowing should not be used for purposes that could deflate the economy but should be channeled towards the provision of goods that would increase the level of economic activities.
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Authors
Adeteji Okutimiren
Faculty of Social Sciences, Olabisi Onabanjo University, Ogun State, Nigeria.
Olukayode Maku
Faculty of Social Sciences, Olabisi Onabanjo University, Ogun State, Nigeria.
Oluwaseyi Adelowokan
Faculty of Social Sciences, Olabisi Onabanjo University, Ogun State, Nigeria.