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LA DETTE EXTERIEURE HANDICAPE T’ELLE LA CROISSANCE ECONOMIQUE DU TOGO ?

KPEMOUA, Palakiyèm (2016): LA DETTE EXTERIEURE HANDICAPE T’ELLE LA CROISSANCE ECONOMIQUE DU TOGO ?

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Abstract

The purposes of this paper are to investigate empirically the impact of external debt on Togo’s economic growth with a model that relies on a log-quadratic function and to test the causality between that external debt and the economic growth. The empirical methodology is based on the autoregressive distributed lag approach (ARDL) suggested by Mohammad H. Pesaran and al. (2001), on the cointegration and with Toda and Yamamoto (1995) causality tests. The data cover the period 1971-2014.

The results obtained indicate that the impact of external debt on economic growth in the long-run is positive and significant. The results show also the existence of causality, from external debt to economic growth according to Toda and Yamamoto.

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