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

Udeme Henrietta Ukpe (), Choumbou Raoul Fani Djomo, Sani Mohamadou and Gama Emmanuel Nkwi
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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

A chapter in Agricultural Transformation in Africa, 2023, pp 171-180 from Springer

Abstract: 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.

Keywords: Agricultural growth; Private investment; External debt; Simulation; Baseline; Scenario (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:aaechp:978-3-031-19527-3_12

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DOI: 10.1007/978-3-031-19527-3_12

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