Does Economic Growth, External Debt, and Institutional Quality Promote Poverty and Income Inequality in Nigeria?

Author:

Yakubu Magaji Ibrahim1,Aladejare Samson Adeniyi1

Affiliation:

1. Federal University Wukari

Abstract

Abstract

This study assessed the effect of economic growth on poverty and inequality in Nigeria between 1990 and 2022. The research applied the ARDL technique in its empirical analysis. Findings from the study indicated that economic growth does not have significant long-run impact on poverty and inequality. However, the short-run relationship showed that economic growth increases inequality in Nigeria. External debt was revealed to further aggravate poverty and inequality in the long-run. Also, while government effectiveness demonstrated an enhancing effect on poverty in the short and long-run periods, its long-run impact on inequality is significantly decelerating. Thus, based on the aforesaid conclusions the study recommends the strengthening of small and medium enterprises through access to finance at lower interest rates and equitable distribution of national wealth through the payment of a living wage, provision of social and economic infrastructure, etc. Also, the agricultural sector should be made more attractive to the youths through encouraging export promotion policies. Leveraging financial technology, and encouraging start-up firms can further reduce the poverty and the inequality level in the country.

Publisher

Research Square Platform LLC

Reference46 articles.

1. Energy utilization, economic prosperity and environmental quality in west Africa: Is there an asymmetric nexus?;Aladejare SA;Int J Energy Environ Econ,2020

2. Macroeconomic volatility and its significance to the rising external indebtedness of Nigeria;Aladejare SA;J Public Finance Stud,2021

3. Deficit financing components, inflation and capital formation in Nigeria: New evidence from a direct and indirect analysis;Aladejare SA;Asian J Economic Modelling,2022

4. Economic prosperity, asymmetric resource income, and ecological demands in resource-reliant economies;Aladejare SA;Resour Policy,2023

5. How significant is trade, macroeconomic management, and economic integration for foreign indebtedness in West African countries?;Aladejare SA;J Int Trade Economic Dev,2023

同舟云学术

1.学者识别学者识别

2.学术分析学术分析

3.人才评估人才评估

"同舟云学术"是以全球学者为主线,采集、加工和组织学术论文而形成的新型学术文献查询和分析系统,可以对全球学者进行文献检索和人才价值评估。用户可以通过关注某些学科领域的顶尖人物而持续追踪该领域的学科进展和研究前沿。经过近期的数据扩容,当前同舟云学术共收录了国内外主流学术期刊6万余种,收集的期刊论文及会议论文总量共计约1.5亿篇,并以每天添加12000余篇中外论文的速度递增。我们也可以为用户提供个性化、定制化的学者数据。欢迎来电咨询!咨询电话:010-8811{复制后删除}0370

www.globalauthorid.com

TOP

Copyright © 2019-2024 北京同舟云网络信息技术有限公司
京公网安备11010802033243号  京ICP备18003416号-3