External Debt and Economic Growth: An Impact...

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4500000

4000000

3500000

3000000

2500000

2000000

1500000

1000000

500000

0

Nigeria Senegal

Ghana Kenya Cote d’lvoire Cameroon Algeria

Botswana

1970

1972

1974

1976

1978

1980

1982

1984

1986

1988

1990

1992

1994

1996

1998

2000

2004

2006

2006

2008

2010

2012

2014

Years

Ext

erna

l deb

t sto

ck

Nigeria Senegal

Ghana Kenya

Cameroon

Cote d’lvoire

Botswana

60

50

40

30

20

10

0

1977

1979

1981

1983

1985

1987

1989

1991

1993

1995

1997

1999

2001

2003

2005

2007

2009

2011

2013

2015

Years

Tot

al d

ebt s

ervi

ce (%

)

Capital per head

Out

put p

er (γ

)

B

H

T

X O

Y

sy

y•

yo

syo

(n-d) f(k)

Y-f(k)

ko ko •

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