An Appraisal Of External Debt Management Policies On The Economic Growth Of Nigeria:- Uzoma Uchechi S.

ABSTRACT

 This research is on the appraisal of external debt management policies on the economic growth. of Nigeria spanning from' 1980-2011. Specific objectives of this research is to analyze the factors influencing external debt policies, examine the effects of total external debt to the Nigerian economic growth, identify the relationship between terms of trade and the external debt of Nigeria, investigate the impact of debt/import ratio on gross domestic product. In the literature review, a lot of journals and articles were consulted. This review was able to ascertain that less developed countries are prone. To be highly indebted which retard their growth and development. Secondary data were used and four hypotheses were formulated and tested. Multiple and simple regression analysis were carried out using E-view. The result revealed that gross domestic investment, fiscal deficit, exchange rate, terms of trade and London inter bank offered rate are the .main determinants of external debt. Secondly, with the decline in investments, per capital growth in real GDP also indicated an increase in external debt. Recommendation includes; deficit financing should be curtailed, federal government should ensure that borrowed funds are appropriately utilized, spending should be controlled and increase in the production of goods and services should be encouraged.