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Debt, institutions, and growth: Exploring the interplay between external debt, institutional quality, investment, and industrial growth

Abstract A plethora of studies have examined the effect of external debt on economic growth using panel econometric data. However, time-series studies investigating the moderating role of institutional quality and investment on the effect of external debt on industrial growth at the country level are scarce. This study takes a step further to explore the moderating role of institutional quality and investment on the effect of external debt on industrial growth in Nigeria. The paper-utilized time-series data spanning from 1981 to 2023, an ARDL approach augmented by Fully Modified Ordinary Least…

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    from https://link.springer.com/content/pdf/10.1186/s43093-026-00752-6.pdf