EFFECT OF BUDGET DEFICIT AND PUBLIC DEBT SERVICING ON DOMESTIC DEBT STOCK IN NIGERIA
| dc.contributor.author | Saleh, Atiku Dambatta | |
| dc.contributor.author | Udenwa, Theresa A | |
| dc.date.accessioned | 2023-12-10T17:49:01Z | |
| dc.date.available | 2023-12-10T17:49:01Z | |
| dc.date.issued | 2019-03-18 | |
| dc.description.abstract | This study examines the effect of budget deficit and public debt servicing on domestic debt stock in Nigeria. An ex-post facto research design was employed for this study. Secondary data were collected from Central Bank of Nigeria Statistical Bulletin for thirty eight year period spanning through 1981 to 2018. Employing the econometric methodology of the Johansen Cointegration and Vector Error Correction Model, the study established long run relationships among the variables. The Ordinary Least Square result shows that budget deficit has no significant effect on domestic debt stock in Nigeria, while domestic debt servicing have significant effect on domestic debt stock in Nigeria. The study recommends that the Debt Management Office should take urgent steps towards restructuring part of the short term domestic debt to long term through outright redemption of portion of short term domestic debt when they mature. Also, to reduce the possibility of crowding-out the private sector, the Federal Government should encourage private sector participation in developmental projects through the issuance of Federal Government guarantee. | en_US |
| dc.identifier.citation | Oyejide, T. A., Soyede, A. & Kayode, M. 0. (2004). Nigeria and the IMF. Ibadan: Heinemann Nigeria Ltd. Qayyum, U., Din, M. U., & Haider, A. (2014). Foreign aid, public debt and governance. Economic Modelling, 37,41-52. Re wane, B. (2019). Nigeria in 2019: low growth versus rising risks advised againstfurther borrowing. First City Monument Bank South-West region media parley in Ibadan, August 29,2019. Sachs, E. (1989a). Debt overhang, debt reduction and investment: The Case of the Philippines: IMF working Paper. Shahateet, M. I., Al-Habashneh, F., & AlMajali, K. A. (2014). Budget deficit and public debt in Jordan: Causality and Co-integration analysis. International Journal of Economics and Finance, 6(8), 268-277. Stevan, G. (2010). Economic implication of deficit finance, Bamberg Economic Research Group, Working Paper Series, 69. | en_US |
| dc.identifier.uri | https://keffi.nsuk.edu.ng/handle/20.500.14448/957 | |
| dc.language.iso | en | en_US |
| dc.publisher | Department of Banking and Finance, Faculty Of Administration Nasarawa State University, Keffi. | en_US |
| dc.subject | Budget Deficit, Deficit Financing, Domestic Debt Servicing and Domestic Debt Stock. | en_US |
| dc.title | EFFECT OF BUDGET DEFICIT AND PUBLIC DEBT SERVICING ON DOMESTIC DEBT STOCK IN NIGERIA | en_US |
| dc.type | Article | en_US |