The Upshot of External Debt on Economic Growth in West African Countries: A Panel Data Approach

Sesan Adeniji

MPRA Paper from University Library of Munich, Germany

Abstract: This study investigates the upshot of external debt on economic growth in West African countries using panel data techniques of analysis for a period of 1971 -2012. The aftermath of the analysis shows a negative and significant relationship between external debt and economic growth in the economies of the countries under consideration. This is in no way different from what economic theories preached and the outcome of some previous research work on the issue. Therefore, we suggest that government should endeavor to put-in necessary measure to ensure judicious use of fund obtain from abroad for the purpose which they are acquired considering the highest priority of the project and also develop effective and efficient external debt management strategies that will favour timely repayment or liquidation of the debt to avoid debt overhanging.

Keywords: Keywords: External Debt; Economic Growth and Panel data. (search for similar items in EconPapers)
JEL-codes: C23 F34 F43 (search for similar items in EconPapers)
Date: 2013-12-29
New Economics Papers: this item is included in nep-afr and nep-gro
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