%0 Journal Article %1 noauthororeditor %A Charity Ifunanya Osakwe | Anachedo, Chima Kenneth | Okonkwo, Jisike Jude %D 2022 %J INTERNATIONAL JOURNAL OF TREND IN SCIENTIFIC RESEARCH AND DEVELOPMENT %K Domestic Exchange Government Gross Inflation Product debt externalities financial mismatch rate revenue %N 2 %P 1091-1098 %T Effects of Rising External Debt Empirical Evidence from Nigeria %U https://www.ijtsrd.com/management/public-sector-management/49359/effects-of-rising-external-debt-empirical-evidence-from-nigeria/charity-ifunanya-osakwe %V 6 %X External debt which is inevitable as government revenue diminishes, or sometimes as a result of financial mismatch especially in the case of Nigeria, which is an import base nation gives concern. This study seeks to investigate the effect of external debts on the Nigerian economy from a period of 1990 - 2020. This study used an ex post facto research design, Augumented Dickey Fuller ADF unit root was used for stationarity test and the Vector Auto Regressive Distributive Lags test was employed for the data analysis. The variables tested were External debt being the independent variable while Exchange rate, growth rate of GDP and Inflation rate are the dependent variables. Findings revealed that external debt impedes economic growth leading to deteriorating exchange rate which is followed by increase in inflation, which hampers economic growth. Recommendations of the authors from the findings is that the fiscal authorities should liaise with the monetary authorities on the best sources and uses of funds to eradicate the issue of financial mismatch but rather contribute both to infrastructural development and economic growth in the country. Charity Ifunanya Osakwe | Anachedo, Chima Kenneth | Okonkwo, Jisike Jude "Effects of Rising External Debt; Empirical Evidence from Nigeria" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-6 | Issue-2 , February 2022, URL: https://www.ijtsrd.com/papers/ijtsrd49359.pdf Paper URL: https://www.ijtsrd.com/management/public-sector-management/49359/effects-of-rising-external-debt-empirical-evidence-from-nigeria/charity-ifunanya-osakwe

@article{noauthororeditor, abstract = {External debt which is inevitable as government revenue diminishes, or sometimes as a result of financial mismatch especially in the case of Nigeria, which is an import base nation gives concern. This study seeks to investigate the effect of external debts on the Nigerian economy from a period of 1990 - 2020. This study used an ex post facto research design, Augumented Dickey Fuller ADF unit root was used for stationarity test and the Vector Auto Regressive Distributive Lags test was employed for the data analysis. The variables tested were External debt being the independent variable while Exchange rate, growth rate of GDP and Inflation rate are the dependent variables. Findings revealed that external debt impedes economic growth leading to deteriorating exchange rate which is followed by increase in inflation, which hampers economic growth. Recommendations of the authors from the findings is that the fiscal authorities should liaise with the monetary authorities on the best sources and uses of funds to eradicate the issue of financial mismatch but rather contribute both to infrastructural development and economic growth in the country. Charity Ifunanya Osakwe | Anachedo, Chima Kenneth | Okonkwo, Jisike Jude "Effects of Rising External Debt; Empirical Evidence from Nigeria" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-6 | Issue-2 , February 2022, URL: https://www.ijtsrd.com/papers/ijtsrd49359.pdf Paper URL: https://www.ijtsrd.com/management/public-sector-management/49359/effects-of-rising-external-debt-empirical-evidence-from-nigeria/charity-ifunanya-osakwe }, added-at = {2022-07-25T10:51:00.000+0200}, author = {{Charity Ifunanya Osakwe | Anachedo, Chima Kenneth | Okonkwo}, Jisike Jude}, biburl = {https://www.bibsonomy.org/bibtex/23305b17bdc850708a193e77e0c5d2f6a/ijtsrd}, interhash = {d2f0c2ac7edc3267e3404aa0ecb732ee}, intrahash = {3305b17bdc850708a193e77e0c5d2f6a}, issn = {2456-6470}, journal = {INTERNATIONAL JOURNAL OF TREND IN SCIENTIFIC RESEARCH AND DEVELOPMENT}, keywords = {Domestic Exchange Government Gross Inflation Product debt externalities financial mismatch rate revenue}, language = {english}, month = feb, number = 2, pages = {1091-1098}, timestamp = {2022-07-25T10:51:00.000+0200}, title = {Effects of Rising External Debt Empirical Evidence from Nigeria }, url = {https://www.ijtsrd.com/management/public-sector-management/49359/effects-of-rising-external-debt-empirical-evidence-from-nigeria/charity-ifunanya-osakwe}, volume = 6, year = 2022 }