Impact of external debt on household consumption expenditure in Nigeria - time series analysis Department: Economics By: bapatigi7954 Project ID: 7440 Rating: (5.0) votes: 1Rate this project12345 Price:₦2000 Get the Complete MaterialAbstractThe objective of this research is to examine the impact of external debt on household consumption expenditure in Nigeria (time series analysis). The study explores the intricate relationships among inflation, poverty, economic growth, and household consumption expenditure in Sub-Saharan African countries over a period of twenty-seven years from 1994 to 2020. The research utilizes a robust methodological approach, incorporating descriptive statistics, Pearson correlation coefficients, and multiple linear regression analysis to unravel the dynamics between these key variables. The data sources identified are reliable and provide comprehensive data on external debt and household consumption expenditure. Data collected are presented in summary form as used to carry out the various tests. The findings indicated a robust positive correlation between household spending and human development factors suggesting that an improvement in well-being corresponds to increased expenditure on basic necessities. Conversely, a moderate negative correlation with economic factors implies that as economic conditions improve, there is a slight tendency for household consumption expenditure to decrease. The multiple linear regression model enhances the understanding of determinants, revealing a strong positive correlation between predicted and actual expenditure. Economic and human development factors collectively explain a significant portion of expenditure variance, with the adjusted R-Square accounting for the complexity introduced by multiple variables. Based on the comprehensive analysis of the relationships among inflation, poverty, economic growth, and household consumption expenditure in Sub-Saharan African countries, several recommendations emerge to inform policy and further research in this context. Firstly, given the observed strong positive correlation between Human Development Factors and Household Consumption Expenditure, policymakers should prioritize investments in human development aspects such as education, health, and food security....Preview Download Preview +Other Economics project topics and materials you might be interested in»The impact of industrialization on Nigeria's economic development»The impact of minimum wage fluctuation on growth of Nigerian economy»Population growth and economic development in Nigeria (1981-2011)»The impact of population growth on the Nigerian economy (1980-2010)»The impact of petroleum subsidy on the consumption of petroleum products in Nigeria»The impact of small and medium scale industries on the economic growth of Nigeria (1986 – 2010)»The impact of industrial output on the economy of Nigeria (1980-2010)»The growth of Nigerian economy and unemployment (1980-2010)»Impact of government expenditure on Nigerian economic growth (1981 – 2010)»The effect of external debt on economic growth of Nigeria»Poverty and the Nigerian economy»An assessment on the impact of industrialization on economic growth in Nigeria»The impact of external debt on Nigeria economy (1985-2011)»Inequality and taxation in Nigeria (1980-2010)»The impact of bank lending on the growth of small and medium business in Osun State