Institutional approach to debt determination: the Nigerian case
by David O. Fadiran; Olusegun A. Akanbi
International Journal of Sustainable Economy (IJSE), Vol. 10, No. 1, 2018

Abstract: This paper examines institutions as a determinant of external debt. We employ a recently constructed data set on institutions for Nigeria, which is constructed using a different methodology from the oft used polity series and also unbundles institutions into several sub-categories. The results show that specific institutional categories such as 'the extent of arbitrary executive powers' and 'government secrecy' play a significant role in limiting debt levels. Furthermore, when we consider the composite institutions' measure that captures the totality of civil and political liberties, the empirical analysis suggests that it plays a significant role in limiting the levels of long-term external debt, as well as public and publicly guaranteed (PPG) external debt, in the long-run.

Online publication date: Wed, 13-Dec-2017

The full text of this article is only available to individual subscribers or to users at subscribing institutions.

 
Existing subscribers:
Go to Inderscience Online Journals to access the Full Text of this article.

Pay per view:
If you are not a subscriber and you just want to read the full contents of this article, buy online access here.

Complimentary Subscribers, Editors or Members of the Editorial Board of the International Journal of Sustainable Economy (IJSE):
Login with your Inderscience username and password:

    Username:        Password:         

Forgotten your password?


Want to subscribe?
A subscription gives you complete access to all articles in the current issue, as well as to all articles in the previous three years (where applicable). See our Orders page to subscribe.

If you still need assistance, please email subs@inderscience.com