英语论文网

摘要本论文探讨了西非经济共同体国家的外债和偿债在经济增长时期（1960八年）的效果。在研究中使用的债务-增长模型包括对外债务、偿债和每个国家的国内生产总值的分析，所使用的数据是时间序列数据。研究结果表明，对外债务的经济效果和多样的服务是西非国家经济共同体之间不同的国家的差距。此外，外债促进贝宁和尼日尔经济积极增长，同时外部债务和偿债影响严重的是布基纳法索，科特迪瓦，冈比亚，几内亚比绍，尼日利亚，塞拉利昂，塞拉利昂和多哥。

关键词：外债偿债，经济增长与西非国家经济共同体。

致谢

我要感谢我的导师穆斯塔法Besim副教授，他主要针对我在这项研究的兴趣，给予我不断的支持、激励和指导。没有他宝贵的监督，我所有的努力可能会受到限制。

The effect of external debt and debt servicing

ABSTRACT

This thesis examines the effect of external debt and debt servicing on ECOWAS countries economic growth over the period (1960 to 2008). The debt –growth model used in the study includes external debt stock, debt servicing and the Gross Domestic product of each individual country, the data used was times series data. The results illustrate that the economic effect of external debt stock and its servicing varied for different countries among the ECOWAS. In addition, external debt contributes positively to growth in Benin and Niger while the impact of external debt stock and debt servicing was severe on the economic growth of Burkina Faso, Cote d’Ivoire, Gambia, Guinea- Bissau, Nigeria, Sierra-Leone and Togo.

Keywords: External Debt, Debt Servicing, Economic Growth and ECOWAS.

ACKNOWLEDGMENT

I would like to thank my supervisor, Associate Professor Mustafa Besim for his continuous support, motivation and guidance mainly for the interest attached in the preparation of this study. Without his invaluable supervision, all my efforts could have been limited.

I also want to thank Associate Professor Salih Katircioglu for continuous help he has been provided to support my effort.

Also I am grateful to all my lecturers and to my friends: Taiwo Daniels and others for their contribution.

Thanks to my family who allowed me to travel all the way from Nigeria to Cyprus and supported me all throughout my studies. I would like to dedicate this study to them as an indication of their significance in this study as well as in my life.

DEDICATION

To My parent Mr. and Mrs. Anifowose, Ronke Akinsulire (Fiancée), Iponti Kehinde and Abraham Alaba Bunmi.

TABLE OF CONTENTS

ABSTRACT ii

Keywords: External Debt, Debt Servicing, Economic Growth and ECOWAS. ii

Z iii

ACKNOWLEDGMENT iv

DEDICATION iv

TABLE OF CONTENTS vi

LIST OF TABLES viii

INTRODUCTION 1

1.1 Background of the Study 1

1.2 Statement of the Problem of Study 2

1.3 Objectives of the Study 3

1.4 Research Questions 3

1.5 Statement of Hypotheses 3

1.6 Scope of the study 4

1.7 Significance of the Study 4

1.8 Structure of the Study 5

LITERATURE REVIEW ON EXTERNAL DEBT AND GROWTH 6

2.1 Introduction 6

Economic development is the process of increasing the living standards of people within the boundaries of a specific location through the efficient and sustainable allocation of scarce resources (Kondonassis, A.J, 1991) .Conventionally, economic development can also be used to mean economic growth with structural change. This means that economic growth is a basic requirement for economi