Abstract:The purpose of this paper is to evaluate the relative influence of bilateral and multilateral concessional debts on public investment in 32 sub-Saharan African countries over the period 1985-2020. Dynamic panel autoregressive distributed lag models comprising the mean group, pooled mean group and dynamic fixed effect estimators were employed in our model estimations. The results revealed that bilateral and multilateral concessional debts had a long-run positive and significant effect on public investment. The … Show more
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