International records / OpenAlex research

External Debt and Economic Growth Relationship in Nigeria: A Reconsideration

This paper examines the relationship between external debt and economic growth over the period 1981-2021 in Nigeria using the ARDL econometric technique. As economic growth is elusive amid a high and increasing stock of external debt, the country is on the verge of losing access to international financing. Thus, the problem provokes raging discussion on whether, or not, external debt is growth-enhancing in Nigeria. As such, in an attempt to contribute to the discussion and proffer a solution to the problem, this paper builds on an earlier study. Consequent upon preliminary diagnostics, a one-w…