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Empirical Investigation of the Impact of Public Debt on Economic Growth in Nigeria

Public debt is the amount of money that is borrowed by the government of a country from individuals, private and public corporations residing inside or outside the country. Debt is incurred by a government when there is a surplus expenditure over revenue and insufficient savings to carry out productive activities that foster economic growth and development. This study examined the impact of public debt on economic growth in Nigeria from 1980-2021. The study utilized the Autoregressive Distributed Lag bounds model to co-integration for analysis. The results showed that external and domestic deb…

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