International records / OpenAlex research

Macroeconomic Volatility, Public Health Expenditure: Implications for Economic Growth in Nigeria

This study examines the implications of macroeconomic volatility and public health expenditure on economic growth in Nigeria using annual time series data. Unit root tests reveal a mixed order of integration among the variables, justifying the application of the Autoregressive Distributed Lag (ARDL) model. The ARDL bounds test indicates the absence of a stable long-run relationship, while the Error Correction Model (ECM) captures the short run dynamics. The results show that economic growth is largely driven by its past values, indicating strong persistence. Inflation and interest rates exert …