NATIONAL DEBT AND ECONOMIC GROWTH: EVIDENCE FROM DEVELOPING COUNTRIES; NIGERIA

Authors

  • Ojomolade, Dele PhD Department of Accounting and Finance, Caleb University, Imota. Nigeria Author
  • Dr Isibor Oreghan Department of Accounting and Finance, Caleb University, Imota. Nigeria Author
  • Akinlabi, Jide PhD Department of Accounting and Finance, Caleb University, Imota. Nigeria Author

Keywords:

Developing countries, Domestic debt, Economic growth, External debt, Public debt

Abstract

The study examines public debt and economic growth: evidence from developing countries; Nigeria for the period of 1985-2024, data were collected from Central Bank of Nigeria, World development indication and Nigeria bureau of statistic, 2025. The secondary data were analysed by descriptive statistics, autoregressive distributed lag, granger causality test and the results reveled adjusted R2 at 99.3% and R2 is 99.8% with P-value of 0.000044, the bound test showed a long relationship between the variables and economic growth, there is bi-directional results from the granger causality test. It recommended that government forgo using external debt but concentrate on domestic debt to avoid huge impact of debt servicing.

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Published

2026-05-13

Issue

Vol. 6 No. 1 (2026): ACCOUNTING AND MANAGEMENT REVIEW (AMAR) Vol. 6, No. 1, April 2026

Section

Articles