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Periodical article Periodical article Leiden University catalogue Leiden University catalogue WorldCat catalogue WorldCat
Title:The Impact of External Debts on Economic Growth: An Empirical Assessment of the Sudan: 1978-2001
Author:Mohamed, Mutasim A.A.
Periodical:Eastern Africa Social Science Research Review (ISSN 1027-1775)
Notes:biblio. refs.
Geographic terms:Sudan
Northeast Africa
Subjects:external debt
economic development
economic policy
Economics and Trade
History and Exploration
Economics, Commerce
Debt servicing
Economic implications
External link:http://muse.jhu.edu/journals/eastern_africa_social_science_research_review/v021/21.2mohamed.pdf
Abstract:Based on secondary data from the Bank of Sudan Annual Reports and the Central Bureau of Statistics, this paper investigates, from an empirical point of view, the impact of Sudan's external indebtedness on economic growth over the period 1978-2001. In addition to that, the growth rate of real export earnings is included in the empirical model to capture the impact of export promotion in inducing economic growth, while the inflation rate is incorporated as a macroeconomic policy variable. The results of the study reveal the existence of a debt overhang problem in Sudan, i.e. external debts exceed the country's repayment ability. The study concludes that external debt and inflation deter economic growth, while export earnings have positive impacts. Thus, Sudan needs to be considered for comprehensive debt relief measures. The study recommends the adoption of an export-led growth strategy besides improving infrastructure. Furthermore, encouraging domestic savings and realizing peace in a united Sudan will help restore debt sustainability. Bibliogr., sum. [Journal abstract]