2021•Journal of Resources Development and ManagementOpen access

Appraisal of Continuous Use of Public Debt on the Nation’s Growth and Development

Mojisola Oladunni Jacob-Udeme, Samson Olusola Olojede, Godwin Emmanuel Oyedokun

Abstract

The paper examines the continuous use of public debt in Nigeria, the effect of growth and development on the nation. The nature of public debt was discussed before considering reasons most nations including Nigeria go for public debt. The Ricardo Theory of public debt was the theoretical framework for the paper. The relationship between public debt and national development was also explored. Based on that conclusion was reached. Keywords: External debt; domestic debt; growth; development DOI: 10.7176/JRDM/78-03 Publication date: August 31 st 2021

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Key concepts: Debt, Internal debt, Debt-to-GDP ratio, External debt, Economics, Debt levels and flows, Business, Financial system