The study examines whether or not a relationship exists between external debt and economic growth in Nigeria. Time series data from 1981-2012 were fitted into the regression equation using various econometric techniques such as Augmented Dickey Fuller (ADF) test and Ordinary Least Square Regression. The result of the OLS model showed that external debt has a fairly significant positive relationship with the gross domestic product. This result is consistent with a number of earlier studies reviewed in the literature that found external debt and gross domestic product to have a positive relationship.
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