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Public External Debt, Domestic Private Investment, and Agricultural Output Nexus: Empirical Evidence from Nigeria

In: Agricultural Transformation in Africa

Author

Listed:
  • Udeme Henrietta Ukpe

    (Federal University Wukari)

  • Choumbou Raoul Fani Djomo

    (University of Buea, South West Region)

  • Sani Mohamadou

    (Joseph Sarwuan Tarka University)

  • Gama Emmanuel Nkwi

    (Federal University Dutse)

Abstract

The recent debate of research is the conflicting view concerning public debt and empowerment of the private sector as a driving force for the sustainability of the economy. Therefore, this study was undertaken to evaluate public external debt, private investment, and agricultural output nexus. The result of the study showed that by increasing public external debt and decreasing domestic private investment the simulated data was higher compared to the baseline result implying that it supports the Keynesian view. By decreasing public external debt and increasing domestic private investment, the scenario simulated data, for agricultural growth were lower compared to the baseline implying that private investment alone cannot sustain agricultural growth in Nigeria. It was, therefore, recommended that specialized development agencies should be set up to implement and evaluate government policies on foreign external debt and domestic private investment.

Suggested Citation

  • Udeme Henrietta Ukpe & Choumbou Raoul Fani Djomo & Sani Mohamadou & Gama Emmanuel Nkwi, 2023. "Public External Debt, Domestic Private Investment, and Agricultural Output Nexus: Empirical Evidence from Nigeria," Advances in African Economic, Social and Political Development, in: Gbadebo O. A. Odularu (ed.), Agricultural Transformation in Africa, pages 171-180, Springer.
    • Handle: RePEc:spr:aaechp:978-3-031-19527-3_12
    DOI: 10.1007/978-3-031-19527-3_12
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