Home»Accountancy» Impact of government borrowing on the economic growth and development in Nigeria (2005-2020)

Impact of government borrowing on the economic growth and development in Nigeria (2005-2020)

 Department: Accountancy  
 By: usericon Ayodeji  

 Project ID: 6937
   Rating:  (5.0) votes: 1
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This study examines the impact of government borrowing on economic growth and development in Nigeria (2005-2020). The objectives were to examine the effect of external debt on economic growth and development in Nigeria, to analyze the relationship between domestic debt and economic growth and development in Nigeria, and to investigate the extent of public debt service on economic growth and development in Nigeria. The study employed ex-post facto research design and the researcher adopted the period of the population as sample size (2005– 2020). Secondary source was used for this study and the study utilizes time series data which was sourced from the Central Bank of Nigeria (CBN) statistical bulletin 2005-2020. Statistical Package for Social Science (SPSS) was used as the statistical tool. The study found there is a positive relationship between government borrowing and economic growth and development in Nigeria because there is a presence of correlation among the variable examined the study. Furthermore, it was revealed that the external debt of the government does not have an insignificant on economic growth and development. Finally, the study found that there is a significant relationship between public debt service and economic growth and development. Based on these findings, the study concluded that government borrowing has a significant effect on the economic growth in Nigeria. Therefore, the study recommended that the cost of governance should be reduced so as to enable proper utilization of the available funds for development purposes and an enabling environment must be created to enhance investment in the Nigerian economy....
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