International records / OpenAlex research

Effect of Public Debt on Economic Growth in Nigeria Nwala, Maureen Nneka

Using the Autoregressive Distributed Lag (ARDL) method and regime-based breakpoint analysis, this study looked at how Nigeria's public debt, both foreign and domestic, affected the country's economic development from 1981 to 2023. The results showed that domestic debt stock had a positive and significant long-run impact on economic growth, whereas external debt stock had a negative but statistically negligible effect. Changes in foreign debt hurt GDP in the short term, but lagged effects showed that growth might happen later. The analysis found structural breakdowns that happened during import…