Impact of Public Debt and Exchange Rate on the Performance of Firms in Nigeria
1OKEWOLE, David Dayo, 2ADEDEJI, Elijah Adeyinka
1,2Department of Project Management Technology, School of Logistics and Innovation Technology The Federal University of Technology, Akure. Ondo State, Nigeria
https://doi.org/10.47191/jefms/v8-i1-65ABSTRACT:
The purpose of this research is to find out the impact of public debt and exchange rate on the performance of firms in Nigeria. Proper understanding on how to investigate the importance of public debt in Nigeria and the degree of responsiveness of exchange rate to public debt in Nigeria. The study adopted a co-relational research design. The population of the study were Central Bank of Nigeria, Federal Ministry of Finance, among others that are listed on the floor of Nigerian Stock Exchange. The study adopted purposive sampling technique. This study covers the period interval from 2000-2022. The relationship between variables was determined using the Pearson Product Moment Correlation Coefficient (PPMCC) and Panel Data Analysis that involved the use of both the fixed and random effects analysis. Therefore the study recommends that debt management should be linked to a clear macroeconomic framework which ensures that Nigeria Government will seek to ensure that public debt level and growth rate are sustainable.
KEYWORDS:
Public debt, Exchange rate, Performance, Debt management and Growth rate.
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