THE IMPACT OF EXTERNAL DEBT ON ECONOMIC GROWTH IN NIGERIA. BY ABUBAKAR SADIQ SALEH Department of Banking and Finance‚ University of Abuja abubakar008@yahoo.co.uk ABSTRACT Debt is borrowing that is either for the purpose of smoothening the consumption path in the face of transitory shocks or as a means of supplementing domestic savings in order to expand productive capacity and raise the long – run growth rate. The objective of this work
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answer. Eyeballing any cross sectional data on growth across countries shows that countries grow at different rates. Many theories try to explain this phenomenon with emphasis with capital accumulation being one of them. I will start by developing the standard neoclassical growth model as developed by Solow(1956)[1]. I will then proceed to discuss the extensions that have been made to this basic model in an attempt to better understand actual growth figures‚ for e.g. the standard neoclassical model
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households (or consumers)‚ the private sector (or producers)‚ and the public sector (or the government) depending on their involvement in a terrorist attack‚ economic agents may suffer from (i) direct impacts through losses in physical and human capital‚ and (ii) indirect impacts that emerge as consequence of the distortion of the economy. First-hand economic damages of terrorist activities have attained recent dimensions in consideration of the unprecedented magnitude of 9/11. Therefore‚ it is not surprising
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Initially‚ during the earliest eras of colonial American slavery‚ the living conditions and treatment of a slave were comparable to those of an indentured servant (at the surface level). In 1680‚ James Revel‚ a thief sentenced to indentured servitude in the colonies‚ recounted the similar conditions that slaves
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Slavery had never been as popular as in the 19th century‚ and the American economy had found a consistent source of income. However‚ all this new glory came at the expense of many African Americans‚ both physically‚ and mentally. Slavery is deeply rooted at the heart of America’s economy‚ making it so prevalent‚ but also much more intense. The expansion and severity of slavery was impacted due to economic demand‚ slave revolts‚ and the inhumane things that slaveholders subjected their slaves to.
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ONE INTROUDCTION 1.1 BACKGROUND OF STUDY The current period in the world economy is regarded as period of globalization and trade liberalization. In this period‚ one the crucial issues in development and international economics is to know whether trade openness indeed promotes growth. With globalization‚ two major trends are noticeable: first is the emergence of multinational firms with strong presence in different‚ strategically located markets; and secondly‚ convergence of consumer tastes for the
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THE SCHUMPETERIAN THEORY OF ECONOMIC GROWTH AND DEVELOPMENT Schumpeter assumes a perfectly competitive economy‚ which is in stationary equilibrium. In such a stationary state‚ there is perfect competitive equilibrium‚ no profits no interest rates‚ no saving‚ no investment and no involuntary unemployment. This equilibrium is characterized by what Schumpeter terms as “circular flow” which continues to repeat itself in the same manner year after year. In the circular flow‚ the same products are produced
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Deep in the heart of the American South‚ slavery‚ along with the slave breaking and auctioning businesses‚ was in full swing. Plantations were known to be home of the most strict‚ demanding‚ and cruel slave masters around. Although all overseers and masters of slaves are undeniably evil‚ those who were religious had a particular sting that came along with their whip and burn by the words of their tongues that was incomparable to that of others. Corrupting the minds of young innocent children and
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Businesses engaged in social involvement incur costs as a result of their activities‚ so it is only natural to determine if there is a financial justification for the investment‚ beyond the moral and ethical. Though many studies have been conducted‚ the only conclusion defined as “meaningful” by our textbook is that there is little evidence that a business’s social involvement is detrimental to its long term economic performance. Some businesses do engage in socially responsible activities based
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RELATIONSHIP BETWEEN SOCIOLOGY AND ECONOMICS Sociology and economics are the branches of the social sciences .They have very close relationship. Economics deals with the economics activities of man which is also called science of bred and butter. Economics is the study of production‚ distribution and consumption of goods and services. Economics as concerned with material welfare of the human beings. Economics welfare is only a part of human welfare and it can be only sought only with
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