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Periodical article Periodical article Leiden University catalogue Leiden University catalogue WorldCat catalogue WorldCat
Title:Private investment and external debt: is the debt overhang hypothesis relevant to Nigeria?
Authors:Ekpo, Akpan H.ISNI
Egwaikhide, FestusISNI
Year:1998
Periodical:The Nigerian Journal of Economic and Social Studies
Volume:40
Issue:1
Pages:87-100
Language:English
Geographic term:Nigeria
Subjects:investments
external debt
Abstract:The determinants of private investment in Nigeria were examined for the period 1973-1993. The econometric model developed was estimated using the two stage least squares. The findings support the debt overhang hypothesis, viz. that Nigeria's external debt crisis has contributed significantly to a decline in investment. Moreover, increased macroeconomic uncertainty has adversely affected private capital formation during the period under investigation. App., bibliogr., ref., sum.
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