Tag Archives: Developing Economies

EXTERNAL DEBT ACCUMULATIONS AND MANAGEMENT IN DEVELOPING ECONOMIES: A COMPARATIVE STUDY OF SELECTED SUB-SAHARAN AFRICAN AND LATIN AMERICAN COUNTRIES. (Published)

The issue of debt crisis and management have constituted major challenges to the developing economies of the world. This study examined external debt accumulations and management strategies adopted by developing countries using Nigeria, Ghana and Brazil. The study covers a ten year period, 2002-2011. This work is both conceptual and empirical. Data were gathered through of the documentations/releases of relevant agencies such as the Debt Management Offices and Central Banks of the countries studied. The study attributed the debt crisis in these nations primarily to mismanagement of credit facilities, weak economic base, overdependence on foreign aids, weak debts contractual agreements and ineffective debt managements strategies. The paper recommends among other things that developing economies should place less emphasis on external borrowings as most of the credits are given under very harsh conditions, emphasis should be placed on prudent resource management. The government should rather pursue deliberate policies that will ensure the diversification of their economy by developing other productive sectors of the economies, while external debts should be seen as a last resort and must be contracted to finance only self- sustaining projects that will stimulate real sector and other factors of production needed to guarantee enduring economic development.

Keywords: Debt Crisis, Debt Management Strategies, Developing Economies, External Debt

EXTERNAL DEBT ACCUMULATIONS AND MANAGEMENT IN DEVELOPING ECONOMIES- A COMPARATIVE STUDY OF SELECTED SUB-SAHARAN AFRICA AND LATIN AMERICA COUNTRIES. (Published)

The issue of debt crisis and management have constituted major challenges to the developing economies of the world. This paper has x-rayed issues of external debt accumulations and management strategies adopted by developing countries using Nigeria, Ghana and Brazil economies. The study covers 2002-2011 and reviews the issues that led to the debt accumulations countries and how they have managed the crisis via policy formulation and implementations. This work is both conceptual and empirical. Data were gathered through of the economic statistics releases of relevant agencies and reveiw records sourced via the internet and other scholarly publications relevant to the topic. The study attributed the debt crisis in these nations primarily to mismanagement of credit facilities, weak economic base, overdependence on foreign aids, weak debts contractual agreements and ineffective debt managements strategies. The paper recommends among other things that developing economies should place less emphasis on external borrowings as most of the credits are given under very harsh conditions, emphasis should be placed on prudent resource management. The government should rather pursue deliberate policies that will ensure the diversification of their economy by developing other productive sectors of the economies, while external debts should be seen as a last resort and must be contracted to finance only self- sustaining projects that will stimulate real sector and other factors of production needed to guarantee enduring economic development.

Keywords: Debt Crisis, Debt Management Strategies, Developing Economies, External Debt

THE RELATIONSHIPS BETWEEN CORRUPTION, POVERTY, AND THE RISING UNDERGROUND ECONOMIC ACTIVITIES IN DEVELOPING ECONOMIES- A COMPARATIVE ANALYSIS OF NIGERIA (Published)

An explanation and exploration is given concerning issues pointedly concerned with the impacts of: underground economy on corruption; and the relationship with poverty level in developing economies. This relationship was the particular linkage such that quite often shadow economy and corruption are seen by researchers as twins, who need each other or fight against each other. Most countries of the world, including the United Kingdom, the United States, Canada, Netherlands, and Nigeria in particular, a large amount of government revenue are derived from taxes. This revenue inevitably shrinks through underground economy and corrupt practices. Therefore, shadow economy has been adjudged the most formidable attendant human practice that reduces the revenues owed to the government, consequently, shadow economy induced poverty in developing economies. Since 1990, problems of shadow economy have become a major concern for governments and policy makers, which therefore, caused increased attention among researchers, economic communities, and social scientists

Keywords: Corruption and Poverty in Nigeria, Developing Economies, Rising Underground Economy, Sam Agbi, Underground Economic Activities, and Eniola Agbi