Nigeria’s debt burden is still very high despite efforts by the Debt Management Office and the Central Bank of Nigeria (CBN) to cub down the debt burden. The country keeps on borrowing without a clear empirical evidence of the current debt-GDP relationship. This study empirically investigates the debt-GDP turning point in Nigeria from 1970-2013, using the instrumental variable technique alongside bootstrapping to allow for the estimation of the turning point. The results revealed that both domestic and external debts lead to initial decline in economic growth but become growth enhancing over time when the debt stock meets the requirement to fill the savings-investment and the for Download
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