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External Debt and Economic Growth in Sub-SAharan African Countries: an Econometric Study

Author

Listed:
  • Iyoha, M.A.

Abstract

This econometric study takes a simulation approach to investigate the impact of external debt on economic growth in sub-Saharan African countries using a small macroeconomic model estimated for 1970-1994. An important finding was the significance of debt overhang variables in the investment equation, suggesting that mounting external debt depresses investment through both a "disincentive" effect and a "crowding out" effect.

Suggested Citation

  • Iyoha, M.A., 1999. "External Debt and Economic Growth in Sub-SAharan African Countries: an Econometric Study," Papers 90, African Economic Research Consortium.
  • Handle: RePEc:fth:afrirc:90
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    Citations

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    Cited by:

    1. Ncebakazi Mhlaba & Andrew Phiri, 2017. "Is public debt harmful towards economic growth? New evidence from South Africa," Working Papers 1717, Department of Economics, Nelson Mandela University, revised Dec 2017.
    2. Swastika, Purti & Dewandaru, Ginanjar & Masih, Mansur, 2013. "The Impact of Debt on Economic Growth: A Case Study of Indonesia," MPRA Paper 58837, University Library of Munich, Germany.
    3. repec:dau:papers:123456789/4089 is not listed on IDEAS
    4. repec:rss:jnljfe:v1i2p2 is not listed on IDEAS
    5. José Augusto Lopes da Veiga & Alexandra Ferreira-Lopes & Tiago Neves Sequeira, 2016. "Public Debt, Economic Growth and Inflation in African Economies," South African Journal of Economics, Economic Society of South Africa, vol. 84(2), pages 294-322, June.
    6. repec:eco:journ1:2014-02-19 is not listed on IDEAS
    7. repec:tei:journl:v:11:y:2017:i:1:p:61-69 is not listed on IDEAS
    8. AL-Adayleh, Radi & AL-amro, Hassan & AL-Gralleh, Huthaifa, 2014. "هيكل الدين العام في الأردن وتأثيره على النمو الاقتصادي (1980 - 2012)
      [The structure of public debt in Jordan and its impact on economic growth (1980-2012)]
      ," MPRA Paper 56271, University Library of Munich, Germany.
    9. Siti Daud & Jan Podivinsky, 2011. "Debt–Growth Nexus: A Spatial Econometrics Approach for Developing Countries," Transition Studies Review, Springer;Central Eastern European University Network (CEEUN), vol. 18(1), pages 1-15, September.
    10. O. Kalu Emenike, 2015. "Response of Foreign Private Investment to Public Debt in Nigeria," Romanian Economic Journal, Department of International Business and Economics from the Academy of Economic Studies Bucharest, vol. 18(56), pages 65-86, June,.
    11. repec:asi:aeafrj:2018:p:117-130 is not listed on IDEAS

    More about this item

    Keywords

    ECONOMETRICS ; ECONOMIC GROWTH ; DEBT ; AFRICA;

    JEL classification:

    • O55 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Africa
    • C10 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - General
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
    • F34 - International Economics - - International Finance - - - International Lending and Debt Problems

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