alexa Abstract | External Debts and Economic Growth in Nigeria: An Empirical Study Using Autoregressive Distributed Lag Model
ISSN: 2151-6219

Business and Economics Journal
Open Access

OMICS International organises 3000+ Global Conferenceseries Events every year across USA, Europe & Asia with support from 1000 more scientific Societies and Publishes 700+ Open Access Journals which contains over 50000 eminent personalities, reputed scientists as editorial board members.

Open Access Journals gaining more Readers and Citations

700 Journals and 15,000,000 Readers Each Journal is getting 25,000+ Readers

This Readership is 10 times more when compared to other Subscription Journals (Source: Google Analytics)

Research Article Open Access


This paper models some economic theories which explained the casual relationship between accumulated funds/ loans from external sources (external debts) and economic growth with a more focus on Nigerian economy, as it is a usually trend for debts of third world and developing countries debts profile to be high, and this case is also the same with Nigeria as the country debts profile is on the increase once more after the debt cancellation of 2005 by the Paris Club of creditors. Also in the innovation by this study is the used of the Autoregressive Distributed Lag (ADL) model to capture the effect of externals debts on viability and growth Nigerian economy from 1984-2012. The preliminary and normality tests shows that the variables are positively skewed but are not normally distributes, while the econometric tests of Stationarity (Unit Root Test) and Co-integration Tests conform that all the variables exhibit Stationarity at first differenced and the existence of long-run relationship between the variables was also confirmed by the Johansen Cointegration test carried out. The result from the ordinary least squares method used confirms the existence of a dual behaviour as the lag 1 of external debts has positive while external debts of present year posed a negative effect on the performance of the economy. The recommendations are Nigeria government should ensure that debts incurred are channel towards productive uses and debt management office of the government should strengthen its plans and foster appropriate use of loans in the critical area the need for is identified.

To read the full article Peer-reviewed Article PDF image | Peer-reviewed Full Article image

Author(s): Olasode OS, Babatunde TS*


External debts, Economic growth, Autoregressive distributed lag, Nigeria government, Oil price shock, Paris club, Accounting Review, International Business, Indexation, Profitability, Time Series, Panel Data, Empirical Analysis, Stock Market Returns, Human Capital, Monetary Policy , Small Firms, Business Cycle, Banking Research Studies, Capital Structure, Economics Studies, Financial plan, Fiscal and tax policies , Avenues of Investment, Wealth Management, Business Theory, Organizational studies, Parameter Estimation

Share This Page

Additional Info

Loading Please wait..
Peer Reviewed Journals
Make the best use of Scientific Research and information from our 700 + peer reviewed, Open Access Journals
International Conferences 2017-18
Meet Inspiring Speakers and Experts at our 3000+ Global Annual Meetings

Contact Us

© 2008-2017 OMICS International - Open Access Publisher. Best viewed in Mozilla Firefox | Google Chrome | Above IE 7.0 version