EXTERNAL DEBT AND ECONOMIC GROWTH IN ETHIOPIA: A TIME SERIES ECONOMETRICS APPROACH
Journal Title: International Journal of Research in Social Sciences - Year 2017, Vol 7, Issue 10
Abstract
The study Evaluates the impact of external debt on economic growth in Ethiopia for the period 1981-2014. Time series data on Real Gross Domestic Product Growth rate, External Debt Stock GDP ratio, External Debt service export ratio, Gross domestic investment GDP ratio, human capital proxies by educational expenditure GDP ratio, labor force as a share total population and Trade Openness as factors used for the assessment of economic growth of Ethiopia for the period of 1981-2014. Time series econometrics model was used to estimate the long run and short-run relationships among the variables. The empirical result suggests the existence of long run relationship between external debt and Economic Growth in Ethiopia and reveals that external debt contributes positively to the economic growth of Ethiopia.
Authors and Affiliations
Dr. Akshaya Kumar Mohanty
Keywords
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