Impact of Debt Financing on Economic Growth in Nigerian 2009 to 2020
Student: ABIODUN JAMIU AGARAWU (Project, 2025)
Department of Banking and Finance
Osun State Polytechnic, Iree, Osun State
Abstract
ABSTRACT
Aims: This paper focuses on the issue of the impact of debt financing on economic growth,
especially the long-term economic growth in Nigeria
Duration of Study: The public debt and economic growth evolution between 2009 and 2020
Methodology: In order to answer our research question, we adopt a positivist epistemology with a
deductive methodological approach through an econometric modeling. An autoregressive model
“VAR” was applied using the stationarity and co-integration’s tests and causality’s tests.
Results: The findings revealed a significant positive relationship between public debt and economic
growth in the period between 2009 and 2020. This is due to the good management strategy of the
public debt and the good institutional governance. However, the level of the external public debt
service has no significant impact on real growth rate.
Keywords: Finance; debt management; economic growth; investment; VAR model; Nigerian
Keywords
For the full publication, please contact the author directly at: agarawuabiodun2002@gmail.com
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Institutions
- Covenant Polytechnic, Aba, Abia State 1
- Covenant University, Canaan Land, Ota, Ogun State 4
- Crawford University of Apostolic Faith Mission Faith City, Igbesa, Ogun State 2
- Crescent University, Abeokuta, Ogun State 1
- Cross Rivers University of Technology, Calabar, Cross Rivers State 142
- Delta State Polytechnic, Ogwashi-Uku, Delta State 11
- Delta State Polytechnic, Otefe, Delta State 12
- Delta State University, Abraka, Delta State 138
- Ebonyi State University, Abakaliki, Ebonyi State 17
- Edo University, Iyamho, Edo State 10