Oshim, Judethadeus Chukwuebuka and Nnajieze, Ifeyinwa Elizabeth and Nwanekpe, Cyracus Ezechi (2024) Promoting Global Partnerships for Sustainable Economic Growth in Nigeria: The Nexus Between Sustainable Development Goal 17 and Goal 8. European Journal of Accounting, Auditing and Finance Research, 12 (6). pp. 44-58. ISSN 2053-4086(Print), 2053-4094(Online)
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Abstract
This study examines the impact of external debt, foreign direct investment (FDI), and official development assistance (ODA) on Gross Domestic Product Per Capita Growth (GDPPCG) in Nigeria. Using econometric analysis based on annual data from relevant sources, including World Bank and IMF databases, the study employs ARDL regression models to assess the relationships between these financial inflows and economic growth indicators. The findings highlight the significant effect of external debt on GDPPCG, underscoring the importance of prudent fiscal management and sustainable debt practices to direct resources towards productive investments. Conversely, FDI and ODA exhibit non-significant impacts, suggesting challenges in maximizing their contributions to sustainable economic development due to infrastructure deficiencies, regulatory complexities, and governance inefficiencies in Nigeria. Policy recommendations emphasize enhancing debt sustainability through transparent financial governance and strategic investment in infrastructure and human capital. Improving the investment climate for FDI by streamlining bureaucratic processes and offering sector-specific incentives is crucial. Similarly, optimizing the effectiveness of ODA involves aligning aid with national development priorities and strengthening institutional capacities for aid coordination.
| Item Type: | Article |
|---|---|
| Subjects: | H Social Sciences > H Social Sciences (General) |
| Depositing User: | Professor Mark T. Owen |
| Date Deposited: | 25 Jun 2024 10:33 |
| Last Modified: | 25 Jun 2024 10:33 |
| URI: | https://tudr.org/id/eprint/3135 |
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