University Links: Home Page | Site Map
Covenant University Repository

The Effect of Public Debt on Economic Growth in Nigeria: An Empirical Investigation

Isibor, Areghan Akhanolu and Babajide, A. A and Akinjare, Victoria Abosede and Oladeji, Tolulope and Osuma, Godswill (2018) The Effect of Public Debt on Economic Growth in Nigeria: An Empirical Investigation. International Business Management, 12 (6). pp. 436-441. ISSN 1993-5250

Full text not available from this repository.


Every government borrows either from within its territory or from abroad to finance development projects that would impact her economy. This study thus, focuses on the Nigerian government’s debt and its impact on economic growth from 1982-2017 using the two-stage least square regression. For the first equation, both internal and external debt and their lags were regressed against GDP, the result showed that external negatively impacts the economy while internal debt positively does the same. For the second equation, GDP, total savings deposits in the Nigerian deposit money banks and capital expenditure were regressed against internal debt, the result showed that all the variables have significant relationship with internal debt. The study thus, recommended that first; Corruption of borrowed funds should be tackled at all cost and also, government should minimize external borrowing, since, it impacts the economy negatively.

Item Type: Article
Uncontrolled Keywords: Public debt, economic growth, internal debt, external debt, square, project
Subjects: H Social Sciences > HB Economic Theory
H Social Sciences > HF Commerce > HF5601 Accounting
Divisions: Faculty of Law, Arts and Social Sciences > School of Social Sciences
Depositing User: Mrs Patricia Nwokealisi
Date Deposited: 26 Jun 2021 12:45
Last Modified: 26 Jun 2021 12:45

Actions (login required)

View Item View Item