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Nigeria Public Debt and Economic Growth: An Empirical Assessment of Effects on Poverty

Author

Listed:
  • Amakom Uzochukwu

    (African Institute for Applied Economics, Enugu, Nigeria)

Abstract

Reasonable levels of external debt that would help finance productive investment are expected to enhance economic growth and improve poverty status though beyond certain levels an additional indebtedness might hinder growth and consequently affect poverty negatively. To investigate the effect of debt [domestic and external] and growth on poverty using the per capita income approach, the study augments a growth and debt specifications based on conditional convergence by adding several debt and growth variables. Empirical evidence show that population, domestic debt, external debt, debt service rates are all on the high side while investment rates, school enrolment rates [secondary school], Terms of Trade and Fiscal Balance are on the low side. Evidence from the study suggests that these variables have played very crucial role towards poverty escalation in Nigeria.

Suggested Citation

  • Amakom Uzochukwu, 2005. "Nigeria Public Debt and Economic Growth: An Empirical Assessment of Effects on Poverty," Public Economics 0508014, University Library of Munich, Germany.
  • Handle: RePEc:wpa:wuwppe:0508014
    Note: Type of Document - doc; pages: 16
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    File URL: https://econwpa.ub.uni-muenchen.de/econ-wp/pe/papers/0508/0508014.doc
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    More about this item

    Keywords

    Debt; Poverty and Growth;

    JEL classification:

    • D6 - Microeconomics - - Welfare Economics
    • D7 - Microeconomics - - Analysis of Collective Decision-Making
    • H - Public Economics

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