International Journal For Multidisciplinary Research

E-ISSN: 2582-2160   •   Impact Factor: 9.24

A Widely Indexed Open Access Peer Reviewed Multidisciplinary Bi-monthly Scholarly International Journal

Call for Paper Volume 6 Issue 4 July-August 2024 Submit your research before last 3 days of August to publish your research paper in the issue of July-August.
Submit Research Paper Join as a Reviewer

Plagiarism is checked by the leading plagiarism checker TurnItIn

Call for Paper

Volume 6 Issue 4
July-August 2024

Submit your research paper

Indexing Partners
Academia Advanced Sciences Index Bielefeld Academic Search Engine CiteSeer DRJI Google Scholar Independent Search Engine & Directory Network ISI (International Scientific Indexing) Issuu Mendeley Research Networks
RefSeek ResearcherId - Thomson Reuters ResearchGate Scirus Scribd Semantic Scholar UTeM - Universiti Teknikal Malaysia Melaka Wiki for Call for Papers WorldCat Zenodo

Public Debt, Debt Servicing and Economic Growth

Author(s) Godwill Atta Boakye, Williams Abayaawien Atuilik
Country Ghana
Abstract Purpose: This paper aims to investigate the relationship between Ghana's external debt level, debt servicing, and economic growth, considering the context of Sub-Saharan Africa's ongoing struggle with managing substantial external debt. Additionally, the effects of the Structural Adjustment/Economic Recovery Program (SAP/ERP) of 1983 on economic growth are examined.
Design/Methodology/Approach: The study utilizes time series data from 1975 to 2021 to analyze Ghana's external debt dynamics and its impact on economic growth. The research employs the Augmented Dickey-Fuller test, PP test, and Autoregressive Distributed Lag (ARDL) regression method for analysis.
Findings: The findings reveal a weak negative association between Ghana's external debt stock to GDP ratio and savings as a percentage of GDP, alongside GDP per capita. Furthermore, the study identifies a positive yet statistically insignificant relationship between debt service and economic growth. Additionally, the model illustrates the substantial effects of the SAP/ERP of 1983 on the country's economic performance.
Originality: This study adds empirical evidence on the link between external debt, debt servicing, and economic growth in Ghana, focusing on the SAP/ERP context. Using robust statistical methods and a comprehensive time series dataset, it sheds light on managing external debt in low-income countries, enhancing understanding of economic challenges in Sub-Saharan Africa.
Keywords Public debt, Debt servicing, External debt, Economic growth
Published In Volume 6, Issue 3, May-June 2024
Published On 2024-06-08
Cite This Public Debt, Debt Servicing and Economic Growth - Godwill Atta Boakye, Williams Abayaawien Atuilik - IJFMR Volume 6, Issue 3, May-June 2024. DOI 10.36948/ijfmr.2024.v06i03.19758
DOI https://doi.org/10.36948/ijfmr.2024.v06i03.19758
Short DOI https://doi.org/gtzjqv
View / Download PDF File

Share this


E-ISSN 2582-2160
CrossRef

CrossRef DOI is assigned to each research paper published in our journal.

IJFMR DOI prefix is
10.36948/ijfmr

Downloads
Research Paper Format Copyright Permission Form and Undertaking Form Cover Page Vol 6 Isu 3 Cover Page Vol 6 Isu 2 Cover Page Vol 6 Isu 1

All research papers published on this website are licensed under Creative Commons Attribution-ShareAlike 4.0 International License, and all rights belong to their respective authors/researchers.

CC-BY-SA Open Access

About IJFMR
Fees & Payment
Current Issue
Publication Archive 		Submit Research Paper
Track Submission Status
Publication Guidelines
Publication Ethics
Peer Review & Plagiarism 		Join as a Reviewer
Editors & Reviewers
Reviewer Referral Program
Get Reviewer Membership Certi. 		Website/Journal Policies
Usage Policy
Content Policies
Privacy Policy
Contact Us +91-9898-5948-55 editor@ijfmr.com