The Impact of Debt Service in Stimulating Economic Growth in Nigeria: Mediating on its Role on Public Sector Financial Management

Acta Universitatis Danubius: Oeconomica

卷:17

Efuntade Olubunmi Omotayo¹  Olaniyan Niyi Oladipo²  Efuntade Alani Olusegun² 

[1] Afe Babalola University;

[2] Federal University;

关键词: debt service;    internal debt;    external debt;    economic growth;   

DOI  :  

来源: DOAJ

【 摘 要 】

The study examined debt service and its impact on economic growth of the country. Itspecifically examined the impact of debt servicing on economic using its role on public sector financialmanagement as a mediating factor. The study predicted on dependency theory, Keynesian theory andneoclassic theory. Secondary data source was explored in presenting the facts of the situation. Thesecondary data were obtained from the debt management office which covered the period of 30 yearsspanning from 1990-2020. Data collated were analyzed using both descriptive and covariance estimatemethod of analysis. Descriptive analysis conducted in the study include the mean, standard deviation,Kurtosis, and Jarque-Bera statistics of each variable. The findings revealed among other things that;there was presence of co-integration (long-run relationship) among the dependent and all theexplanatory variables which is a clear indication that working debt servicing has positive and significantimpact on economic growth of the country both in short and long run if properly managed. It wasconcluded that debt servicing has significant impact on the economic growth due to his positiverelationship with gross domestic product, while exchange rate reflected a negative significant relationto Gross domestic product. This study recommends among others that government should ensure thatany debt both internal and external debt should be deal that will open Nigeria to greater trade andinvestment and can stimulate the economic growth of the country.

【 授权许可】

Unknown