EXTERNAL DEBT AND ECONOMIC DEVELOPMENT: THE NIGERIAN EXPERIENCE
Date
2006-09-17
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Department of Banking and Finance, Faculty Of Administration Nasarawa State University, Keffi.
Abstract
The paper examined external debt implications on economic development drawing from the Nigerian experience. It discusses the nature of borrowed capital and its impact on economic development. The examination revealed that because of poor management external loans tend to constraint the rapid economic development of the Third World Countries taking the loans. The paper highlighted the burdens associated with this, and suggested means of effective use of the loans.
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Citation
Nowzan, B. (1987) Debt in Developing Countries: Some for the 1980’s Finance and Development, Vol.19, No.l, pp. 7-10 Nwankwo, G. O. (1985) A Financial Management Analysis of External Indebtedness of Nigeria 1970-1984. Nigeria Journal of Financial Management Vol.4, Special Issues, pp. 45-49 Ojo, M. O. (1986) Appraisal of the Socio-Economic Impact of Structural Adjustment Policies in Nigeria (1986-1989), Ibadan: Ibadan University Press. Ojo, M. 0. (2000) Nigeria’s External Debt Problem: A Review of Management Efforts the Projects, Ibadan: Ibadan University Press. Papanek, G. F. (1972) The Effects of Aid and other Resources Transfer on Saving and Growth in Less Developed Countries. Economic Journal, Vol.82, No.327, pp. 56-65