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INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT International Peer Reviewed & Refereed Journals, Open Access Journal ISSN Approved Journal No: 2456-4184 | Impact factor: 8.76 | ESTD Year: 2016 Scholarly open access journals, Peer-reviewed, and Refereed Journals, Impact factor 8.76 (Calculate by google scholar and Semantic Scholar | AI-Powered Research Tool) , Multidisciplinary, Monthly, Indexing in all major database & Metadata, Citation Generator, Digital Object Identifier(DOI) |
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| Paper Title: | Does Deficit Financing Promote Economic Growth? The Nigerian Experience |
| Authors Name: | Dr. Boniface Linus Akpan , Dr. Aniefiok Benedict Udo |
| Download E-Certificate: | Download |
| Author Reg. ID: |
IJNRD_202790
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| Published Paper Id: | IJNRD2312280 |
| Published In: | Volume 8 Issue 12, December-2023 |
| DOI: | |
| Abstract: | The Nigerian government has been running huge deficits since the civil war years. The deficit as percentage of GDP has continued to be on the increase and evidence is in the escalating public debt. This study examined the effect of fiscal deficit financing on economic growth in Nigeria by using the Error correction mechanism to estimate the specified model based on the Neo-Classical Theoretical underpinning of economic growth. The result reveals that an increase in External Deficit Financing will bring about a 0.8 per cent increase in economic growth, an indication that External Deficit Financing has a positive relationship with economic growth. Also, an increase in non-banking deficit financing will bring about a 2.24 per cent increase in economic growth, an indication that non-banking deficit financing has a positive relationship with economic growth. For banking source of deficit financing, the result also revealed that an increase in Banking Deficit Financing will bring about a 6.7 per cent increase in economic growth, an indication that Banking Deficit Financing has a positive relationship with economic growth. However, none of the explanatory variables were statistically significance. The granger causality result showed that there is no causal relationship between Real Gross Domestic Product and External Deficit Financing. Therefore, the study concludes that that there is no significant relationship between the sources of fiscal deficit financing and economic growth Nigeria. |
| Keywords: | Fiscal Deficit; Financing; External Borrowing; Public Debt and ECM |
| Cite Article: | "Does Deficit Financing Promote Economic Growth? The Nigerian Experience", International Journal of Novel Research and Development (www.ijnrd.org), ISSN:2456-4184, Vol.8, Issue 12, page no.c831-c845, December-2023, Available :http://www.ijnrd.org/papers/IJNRD2312280.pdf |
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| ISSN: |
2456-4184 | IMPACT FACTOR: 8.76 Calculated By Google Scholar| ESTD YEAR: 2016 An International Scholarly Open Access Journal, Peer-Reviewed, Refereed Journal Impact Factor 8.76 Calculate by Google Scholar and Semantic Scholar | AI-Powered Research Tool, Multidisciplinary, Monthly, Multilanguage Journal Indexing in All Major Database & Metadata, Citation Generator |
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Published Paper ID:IJNRD2312280 Registration ID: 202790 Published In: Volume 8 Issue 12, December-2023 DOI (Digital Object Identifier): Page No: c831-c845 Country: Uyo, Akwa Ibom State, Nigeria Research Area: Social Science and Humanities Publisher : IJ Publication Published Paper URL : https://www.ijnrd.org/viewpaperforall?paper=IJNRD2312280 Published Paper PDF: https://www.ijnrd.org/papers/IJNRD2312280 |
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ISSN: 2456-4184
Impact Factor: 8.76 and ISSN APPROVED
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