id	sid	tid	token	lemma	pos
gujaf-367	1	1	microsoft	microsoft	PROPN
gujaf-367	1	2	word	word	PROPN
gujaf-367	1	3	fk	fk	INTJ
gujaf-367	1	4	to	to	ADP
gujaf-367	1	5	mr	mr	PROPN
gujaf-367	1	6	hassan	hassan	PROPN
gujaf-367	1	7	6	6	NUM
gujaf-367	1	8	1	1	NUM
gujaf-367	1	9	gusau	gusau	ADJ
gujaf-367	1	10	journal	journal	NOUN
gujaf-367	1	11	of	of	ADP
gujaf-367	1	12	accounting	accounting	NOUN
gujaf-367	1	13	and	and	CCONJ
gujaf-367	1	14	finance	finance	NOUN
gujaf-367	1	15	,	,	PUNCT
gujaf-367	1	16	vol.6	vol.6	PROPN
gujaf-367	1	17	,	,	PUNCT
gujaf-367	1	18	issue	issue	NOUN
gujaf-367	1	19	1	1	NUM
gujaf-367	1	20	,	,	PUNCT
gujaf-367	1	21	april	april	PROPN
gujaf-367	1	22	,	,	PUNCT
gujaf-367	1	23	2025	2025	NUM
gujaf-367	1	24	50	50	NUM
gujaf-367	1	25	evaluating	evaluate	VERB
gujaf-367	1	26	the	the	DET
gujaf-367	1	27	debt	debt	NOUN
gujaf-367	1	28	-	-	PUNCT
gujaf-367	1	29	growth	growth	NOUN
gujaf-367	1	30	nexus	nexus	NOUN
gujaf-367	1	31	in	in	ADP
gujaf-367	1	32	ecowas	ecowas	PROPN
gujaf-367	1	33	:	:	PUNCT
gujaf-367	1	34	an	an	DET
gujaf-367	1	35	integrative	integrative	ADJ
gujaf-367	1	36	framework	framework	NOUN
gujaf-367	1	37	of	of	ADP
gujaf-367	1	38	the	the	DET
gujaf-367	1	39	burden	burden	NOUN
gujaf-367	1	40	of	of	ADP
gujaf-367	1	41	debt	debt	NOUN
gujaf-367	1	42	servicing	servicing	NOUN
gujaf-367	1	43	ahmed	ahme	VERB
gujaf-367	1	44	oluwatobi	oluwatobi	PROPN
gujaf-367	1	45	adekunle	adekunle	PROPN
gujaf-367	1	46	department	department	PROPN
gujaf-367	1	47	of	of	ADP
gujaf-367	1	48	accounting	accounting	NOUN
gujaf-367	1	49	science	science	NOUN
gujaf-367	1	50	,	,	PUNCT
gujaf-367	1	51	walter	walter	PROPN
gujaf-367	1	52	sisulu	sisulu	PROPN
gujaf-367	1	53	university	university	PROPN
gujaf-367	1	54	,	,	PUNCT
gujaf-367	1	55	mthatha	mthatha	PROPN
gujaf-367	1	56	,	,	PUNCT
gujaf-367	1	57	south	south	PROPN
gujaf-367	1	58	africa	africa	PROPN
gujaf-367	1	59	aadekunle@wsu.ac.za	aadekunle@wsu.ac.za	PROPN
gujaf-367	1	60	https://doi.org/10.57233/gujaf.v6i1.04	https://doi.org/10.57233/gujaf.v6i1.04	PROPN
gujaf-367	1	61	abstract	abstract	NOUN
gujaf-367	1	62	this	this	DET
gujaf-367	1	63	study	study	NOUN
gujaf-367	1	64	investigates	investigate	VERB
gujaf-367	1	65	the	the	DET
gujaf-367	1	66	impact	impact	NOUN
gujaf-367	1	67	of	of	ADP
gujaf-367	1	68	external	external	ADJ
gujaf-367	1	69	debt	debt	NOUN
gujaf-367	1	70	,	,	PUNCT
gujaf-367	1	71	external	external	ADJ
gujaf-367	1	72	debt	debt	NOUN
gujaf-367	1	73	servicing	servicing	NOUN
gujaf-367	1	74	,	,	PUNCT
gujaf-367	1	75	employment	employment	NOUN
gujaf-367	1	76	,	,	PUNCT
gujaf-367	1	77	and	and	CCONJ
gujaf-367	1	78	other	other	ADJ
gujaf-367	1	79	macroeconomic	macroeconomic	ADJ
gujaf-367	1	80	variables	variable	NOUN
gujaf-367	1	81	on	on	ADP
gujaf-367	1	82	economic	economic	ADJ
gujaf-367	1	83	growth	growth	NOUN
gujaf-367	1	84	within	within	ADP
gujaf-367	1	85	the	the	DET
gujaf-367	1	86	ecowas	ecowas	PROPN
gujaf-367	1	87	sub	sub	NOUN
gujaf-367	1	88	-	-	NOUN
gujaf-367	1	89	region	region	NOUN
gujaf-367	1	90	,	,	PUNCT
gujaf-367	1	91	spanning	span	VERB
gujaf-367	1	92	the	the	DET
gujaf-367	1	93	period	period	NOUN
gujaf-367	1	94	from	from	ADP
gujaf-367	1	95	2005	2005	NUM
gujaf-367	1	96	to	to	ADP
gujaf-367	1	97	2023	2023	NUM
gujaf-367	1	98	.	.	PUNCT
gujaf-367	2	1	utilizing	utilize	VERB
gujaf-367	2	2	panel	panel	NOUN
gujaf-367	2	3	data	datum	NOUN
gujaf-367	2	4	from	from	ADP
gujaf-367	2	5	15	15	NUM
gujaf-367	2	6	ecowas	ecowas	PROPN
gujaf-367	2	7	countries	country	NOUN
gujaf-367	2	8	,	,	PUNCT
gujaf-367	2	9	the	the	DET
gujaf-367	2	10	analysis	analysis	NOUN
gujaf-367	2	11	employs	employ	VERB
gujaf-367	2	12	dynamic	dynamic	ADJ
gujaf-367	2	13	panel	panel	NOUN
gujaf-367	2	14	data	datum	NOUN
gujaf-367	2	15	models	model	NOUN
gujaf-367	2	16	to	to	PART
gujaf-367	2	17	explore	explore	VERB
gujaf-367	2	18	the	the	DET
gujaf-367	2	19	relationships	relationship	NOUN
gujaf-367	2	20	between	between	ADP
gujaf-367	2	21	these	these	DET
gujaf-367	2	22	variables	variable	NOUN
gujaf-367	2	23	.	.	PUNCT
gujaf-367	3	1	the	the	DET
gujaf-367	3	2	results	result	NOUN
gujaf-367	3	3	suggest	suggest	VERB
gujaf-367	3	4	that	that	SCONJ
gujaf-367	3	5	external	external	ADJ
gujaf-367	3	6	debt	debt	NOUN
gujaf-367	3	7	negatively	negatively	ADV
gujaf-367	3	8	impacts	impact	VERB
gujaf-367	3	9	gdp	gdp	NOUN
gujaf-367	3	10	growth	growth	NOUN
gujaf-367	3	11	,	,	PUNCT
gujaf-367	3	12	while	while	SCONJ
gujaf-367	3	13	external	external	ADJ
gujaf-367	3	14	debt	debt	NOUN
gujaf-367	3	15	servicing	servicing	NOUN
gujaf-367	3	16	further	far	ADV
gujaf-367	3	17	exacerbates	exacerbate	VERB
gujaf-367	3	18	this	this	DET
gujaf-367	3	19	negative	negative	ADJ
gujaf-367	3	20	effect	effect	NOUN
gujaf-367	3	21	.	.	PUNCT
gujaf-367	4	1	conversely	conversely	ADV
gujaf-367	4	2	,	,	PUNCT
gujaf-367	4	3	employment	employment	NOUN
gujaf-367	4	4	levels	level	NOUN
gujaf-367	4	5	and	and	CCONJ
gujaf-367	4	6	foreign	foreign	ADJ
gujaf-367	4	7	direct	direct	ADJ
gujaf-367	4	8	investment	investment	NOUN
gujaf-367	4	9	(	(	PUNCT
gujaf-367	4	10	fdi	fdi	NOUN
gujaf-367	4	11	)	)	PUNCT
gujaf-367	4	12	show	show	VERB
gujaf-367	4	13	positive	positive	ADJ
gujaf-367	4	14	associations	association	NOUN
gujaf-367	4	15	with	with	ADP
gujaf-367	4	16	economic	economic	ADJ
gujaf-367	4	17	growth	growth	NOUN
gujaf-367	4	18	,	,	PUNCT
gujaf-367	4	19	highlighting	highlight	VERB
gujaf-367	4	20	their	their	PRON
gujaf-367	4	21	importance	importance	NOUN
gujaf-367	4	22	for	for	ADP
gujaf-367	4	23	long	long	ADJ
gujaf-367	4	24	-	-	PUNCT
gujaf-367	4	25	term	term	NOUN
gujaf-367	4	26	development	development	NOUN
gujaf-367	4	27	.	.	PUNCT
gujaf-367	5	1	additionally	additionally	ADV
gujaf-367	5	2	,	,	PUNCT
gujaf-367	5	3	the	the	DET
gujaf-367	5	4	study	study	NOUN
gujaf-367	5	5	finds	find	VERB
gujaf-367	5	6	that	that	SCONJ
gujaf-367	5	7	the	the	DET
gujaf-367	5	8	interaction	interaction	NOUN
gujaf-367	5	9	between	between	ADP
gujaf-367	5	10	external	external	ADJ
gujaf-367	5	11	debt	debt	NOUN
gujaf-367	5	12	and	and	CCONJ
gujaf-367	5	13	debt	debt	NOUN
gujaf-367	5	14	servicing	servicing	NOUN
gujaf-367	5	15	has	have	VERB
gujaf-367	5	16	a	a	DET
gujaf-367	5	17	significant	significant	ADJ
gujaf-367	5	18	influence	influence	NOUN
gujaf-367	5	19	on	on	ADP
gujaf-367	5	20	growth	growth	NOUN
gujaf-367	5	21	,	,	PUNCT
gujaf-367	5	22	emphasizing	emphasize	VERB
gujaf-367	5	23	the	the	DET
gujaf-367	5	24	need	need	NOUN
gujaf-367	5	25	for	for	ADP
gujaf-367	5	26	effective	effective	ADJ
gujaf-367	5	27	debt	debt	NOUN
gujaf-367	5	28	management	management	NOUN
gujaf-367	5	29	strategies	strategy	NOUN
gujaf-367	5	30	.	.	PUNCT
gujaf-367	6	1	these	these	DET
gujaf-367	6	2	findings	finding	NOUN
gujaf-367	6	3	offer	offer	VERB
gujaf-367	6	4	valuable	valuable	ADJ
gujaf-367	6	5	policy	policy	NOUN
gujaf-367	6	6	implications	implication	NOUN
gujaf-367	6	7	for	for	ADP
gujaf-367	6	8	ecowas	ecowas	PROPN
gujaf-367	6	9	nations	nation	NOUN
gujaf-367	6	10	,	,	PUNCT
gujaf-367	6	11	advocating	advocate	VERB
gujaf-367	6	12	for	for	ADP
gujaf-367	6	13	sustainable	sustainable	ADJ
gujaf-367	6	14	debt	debt	NOUN
gujaf-367	6	15	practices	practice	NOUN
gujaf-367	6	16	,	,	PUNCT
gujaf-367	6	17	increased	increase	VERB
gujaf-367	6	18	job	job	NOUN
gujaf-367	6	19	creation	creation	NOUN
gujaf-367	6	20	,	,	PUNCT
gujaf-367	6	21	and	and	CCONJ
gujaf-367	6	22	enhanced	enhance	VERB
gujaf-367	6	23	investment	investment	NOUN
gujaf-367	6	24	policies	policy	NOUN
gujaf-367	6	25	to	to	PART
gujaf-367	6	26	foster	foster	VERB
gujaf-367	6	27	economic	economic	ADJ
gujaf-367	6	28	stability	stability	NOUN
gujaf-367	6	29	and	and	CCONJ
gujaf-367	6	30	growth	growth	NOUN
gujaf-367	6	31	in	in	ADP
gujaf-367	6	32	the	the	DET
gujaf-367	6	33	region	region	NOUN
gujaf-367	6	34	.	.	PUNCT
gujaf-367	7	1	keywords	keyword	NOUN
gujaf-367	7	2	:	:	PUNCT
gujaf-367	7	3	external	external	ADJ
gujaf-367	7	4	debt	debt	NOUN
gujaf-367	7	5	,	,	PUNCT
gujaf-367	7	6	debt	debt	NOUN
gujaf-367	7	7	servicing	servicing	NOUN
gujaf-367	7	8	,	,	PUNCT
gujaf-367	7	9	economic	economic	ADJ
gujaf-367	7	10	growth	growth	NOUN
gujaf-367	7	11	,	,	PUNCT
gujaf-367	7	12	employment	employment	NOUN
gujaf-367	7	13	,	,	PUNCT
gujaf-367	7	14	ecowas	ecowas	PROPN
gujaf-367	7	15	,	,	PUNCT
gujaf-367	7	16	foreign	foreign	ADJ
gujaf-367	7	17	direct	direct	ADJ
gujaf-367	7	18	investment	investment	NOUN
gujaf-367	7	19	1	1	NUM
gujaf-367	7	20	.	.	PUNCT
gujaf-367	7	21	introduction	introduction	NOUN
gujaf-367	7	22	the	the	DET
gujaf-367	7	23	inflow	inflow	NOUN
gujaf-367	7	24	of	of	ADP
gujaf-367	7	25	external	external	ADJ
gujaf-367	7	26	debt	debt	NOUN
gujaf-367	7	27	to	to	ADP
gujaf-367	7	28	african	african	ADJ
gujaf-367	7	29	countries	country	NOUN
gujaf-367	7	30	has	have	AUX
gujaf-367	7	31	been	be	AUX
gujaf-367	7	32	a	a	DET
gujaf-367	7	33	crucial	crucial	ADJ
gujaf-367	7	34	mechanism	mechanism	NOUN
gujaf-367	7	35	for	for	ADP
gujaf-367	7	36	financing	finance	VERB
gujaf-367	7	37	development	development	NOUN
gujaf-367	7	38	projects	project	NOUN
gujaf-367	7	39	,	,	PUNCT
gujaf-367	7	40	especially	especially	ADV
gujaf-367	7	41	in	in	ADP
gujaf-367	7	42	regions	region	NOUN
gujaf-367	7	43	with	with	ADP
gujaf-367	7	44	low	low	ADJ
gujaf-367	7	45	income	income	NOUN
gujaf-367	7	46	and	and	CCONJ
gujaf-367	7	47	savings	saving	NOUN
gujaf-367	7	48	levels	level	NOUN
gujaf-367	7	49	.	.	PUNCT
gujaf-367	8	1	the	the	DET
gujaf-367	8	2	african	african	ADJ
gujaf-367	8	3	continent	continent	NOUN
gujaf-367	8	4	,	,	PUNCT
gujaf-367	8	5	marked	mark	VERB
gujaf-367	8	6	by	by	ADP
gujaf-367	8	7	low	low	ADJ
gujaf-367	8	8	internal	internal	ADJ
gujaf-367	8	9	capital	capital	NOUN
gujaf-367	8	10	formation	formation	NOUN
gujaf-367	8	11	and	and	CCONJ
gujaf-367	8	12	the	the	DET
gujaf-367	8	13	need	need	NOUN
gujaf-367	8	14	for	for	ADP
gujaf-367	8	15	infrastructure	infrastructure	NOUN
gujaf-367	8	16	development	development	NOUN
gujaf-367	8	17	,	,	PUNCT
gujaf-367	8	18	has	have	AUX
gujaf-367	8	19	long	long	ADV
gujaf-367	8	20	relied	rely	VERB
gujaf-367	8	21	on	on	ADP
gujaf-367	8	22	external	external	ADJ
gujaf-367	8	23	debt	debt	NOUN
gujaf-367	8	24	as	as	ADP
gujaf-367	8	25	a	a	DET
gujaf-367	8	26	significant	significant	ADJ
gujaf-367	8	27	source	source	NOUN
gujaf-367	8	28	of	of	ADP
gujaf-367	8	29	financing	financing	NOUN
gujaf-367	8	30	(	(	PUNCT
gujaf-367	8	31	akinboade	akinboade	NOUN
gujaf-367	8	32	et	et	PROPN
gujaf-367	8	33	al	al	PROPN
gujaf-367	8	34	.	.	PROPN
gujaf-367	8	35	,	,	PUNCT
gujaf-367	8	36	2021	2021	NUM
gujaf-367	8	37	)	)	PUNCT
gujaf-367	8	38	.	.	PUNCT
gujaf-367	9	1	external	external	ADJ
gujaf-367	9	2	debt	debt	NOUN
gujaf-367	9	3	provides	provide	VERB
gujaf-367	9	4	necessary	necessary	ADJ
gujaf-367	9	5	funds	fund	NOUN
gujaf-367	9	6	for	for	ADP
gujaf-367	9	7	investment	investment	NOUN
gujaf-367	9	8	in	in	ADP
gujaf-367	9	9	key	key	ADJ
gujaf-367	9	10	sectors	sector	NOUN
gujaf-367	9	11	,	,	PUNCT
gujaf-367	9	12	such	such	ADJ
gujaf-367	9	13	as	as	ADP
gujaf-367	9	14	infrastructure	infrastructure	NOUN
gujaf-367	9	15	,	,	PUNCT
gujaf-367	9	16	education	education	NOUN
gujaf-367	9	17	,	,	PUNCT
gujaf-367	9	18	and	and	CCONJ
gujaf-367	9	19	healthcare	healthcare	PROPN
gujaf-367	9	20	,	,	PUNCT
gujaf-367	9	21	which	which	PRON
gujaf-367	9	22	are	be	AUX
gujaf-367	9	23	vital	vital	ADJ
gujaf-367	9	24	for	for	ADP
gujaf-367	9	25	economic	economic	ADJ
gujaf-367	9	26	growth	growth	NOUN
gujaf-367	9	27	and	and	CCONJ
gujaf-367	9	28	development	development	NOUN
gujaf-367	9	29	.	.	PUNCT
gujaf-367	10	1	however	however	ADV
gujaf-367	10	2	,	,	PUNCT
gujaf-367	10	3	the	the	DET
gujaf-367	10	4	heavy	heavy	ADJ
gujaf-367	10	5	dependence	dependence	NOUN
gujaf-367	10	6	on	on	ADP
gujaf-367	10	7	borrowed	borrow	VERB
gujaf-367	10	8	capital	capital	NOUN
gujaf-367	10	9	has	have	AUX
gujaf-367	10	10	often	often	ADV
gujaf-367	10	11	come	come	VERB
gujaf-367	10	12	with	with	ADP
gujaf-367	10	13	long	long	ADJ
gujaf-367	10	14	-	-	PUNCT
gujaf-367	10	15	term	term	NOUN
gujaf-367	10	16	economic	economic	ADJ
gujaf-367	10	17	consequences	consequence	NOUN
gujaf-367	10	18	.	.	PUNCT
gujaf-367	11	1	while	while	SCONJ
gujaf-367	11	2	external	external	ADJ
gujaf-367	11	3	debt	debt	NOUN
gujaf-367	11	4	can	can	AUX
gujaf-367	11	5	be	be	AUX
gujaf-367	11	6	a	a	DET
gujaf-367	11	7	useful	useful	ADJ
gujaf-367	11	8	tool	tool	NOUN
gujaf-367	11	9	for	for	ADP
gujaf-367	11	10	bridging	bridge	VERB
gujaf-367	11	11	financial	financial	ADJ
gujaf-367	11	12	gaps	gap	NOUN
gujaf-367	11	13	in	in	ADP
gujaf-367	11	14	developing	develop	VERB
gujaf-367	11	15	economies	economy	NOUN
gujaf-367	11	16	,	,	PUNCT
gujaf-367	11	17	its	its	PRON
gujaf-367	11	18	sustainability	sustainability	NOUN
gujaf-367	11	19	and	and	CCONJ
gujaf-367	11	20	impact	impact	NOUN
gujaf-367	11	21	on	on	ADP
gujaf-367	11	22	economic	economic	ADJ
gujaf-367	11	23	growth	growth	NOUN
gujaf-367	11	24	have	have	AUX
gujaf-367	11	25	been	be	AUX
gujaf-367	11	26	subjects	subject	NOUN
gujaf-367	11	27	of	of	ADP
gujaf-367	11	28	extensive	extensive	ADJ
gujaf-367	11	29	academic	academic	ADJ
gujaf-367	11	30	debate	debate	NOUN
gujaf-367	11	31	(	(	PUNCT
gujaf-367	11	32	mlambo	mlambo	PROPN
gujaf-367	11	33	&	&	CCONJ
gujaf-367	11	34	ranganai	ranganai	ADJ
gujaf-367	11	35	,	,	PUNCT
gujaf-367	11	36	2022	2022	NUM
gujaf-367	11	37	)	)	PUNCT
gujaf-367	11	38	.	.	PUNCT
gujaf-367	12	1	since	since	SCONJ
gujaf-367	12	2	the	the	DET
gujaf-367	12	3	1990s	1990s	NUM
gujaf-367	12	4	,	,	PUNCT
gujaf-367	12	5	high	high	ADJ
gujaf-367	12	6	levels	level	NOUN
gujaf-367	12	7	of	of	ADP
gujaf-367	12	8	external	external	ADJ
gujaf-367	12	9	debt	debt	NOUN
gujaf-367	12	10	in	in	ADP
gujaf-367	12	11	developing	develop	VERB
gujaf-367	12	12	countries	country	NOUN
gujaf-367	12	13	,	,	PUNCT
gujaf-367	12	14	particularly	particularly	ADV
gujaf-367	12	15	in	in	ADP
gujaf-367	12	16	sub	sub	ADJ
gujaf-367	12	17	-	-	ADJ
gujaf-367	12	18	saharan	saharan	ADJ
gujaf-367	12	19	africa	africa	PROPN
gujaf-367	12	20	,	,	PUNCT
gujaf-367	12	21	have	have	AUX
gujaf-367	12	22	garnered	garner	VERB
gujaf-367	12	23	significant	significant	ADJ
gujaf-367	12	24	attention	attention	NOUN
gujaf-367	12	25	from	from	ADP
gujaf-367	12	26	scholars	scholar	NOUN
gujaf-367	12	27	,	,	PUNCT
gujaf-367	12	28	policymakers	policymaker	NOUN
gujaf-367	12	29	,	,	PUNCT
gujaf-367	12	30	and	and	CCONJ
gujaf-367	12	31	international	international	ADJ
gujaf-367	12	32	organizations	organization	NOUN
gujaf-367	12	33	.	.	PUNCT
gujaf-367	13	1	studies	study	NOUN
gujaf-367	13	2	suggest	suggest	VERB
gujaf-367	13	3	that	that	SCONJ
gujaf-367	13	4	while	while	SCONJ
gujaf-367	13	5	external	external	ADJ
gujaf-367	13	6	borrowing	borrowing	NOUN
gujaf-367	13	7	can	can	AUX
gujaf-367	13	8	stimulate	stimulate	VERB
gujaf-367	13	9	short	short	ADJ
gujaf-367	13	10	-	-	PUNCT
gujaf-367	13	11	term	term	NOUN
gujaf-367	13	12	growth	growth	NOUN
gujaf-367	13	13	,	,	PUNCT
gujaf-367	13	14	it	it	PRON
gujaf-367	13	15	can	can	AUX
gujaf-367	13	16	also	also	ADV
gujaf-367	13	17	lead	lead	VERB
gujaf-367	13	18	to	to	ADP
gujaf-367	13	19	long	long	ADJ
gujaf-367	13	20	-	-	PUNCT
gujaf-367	13	21	term	term	NOUN
gujaf-367	13	22	fiscal	fiscal	ADJ
gujaf-367	13	23	distress	distress	NOUN
gujaf-367	13	24	if	if	SCONJ
gujaf-367	13	25	not	not	PART
gujaf-367	13	26	managed	manage	VERB
gujaf-367	13	27	carefully	carefully	ADV
gujaf-367	13	28	(	(	PUNCT
gujaf-367	13	29	iyoha	iyoha	PROPN
gujaf-367	13	30	&	&	CCONJ
gujaf-367	13	31	ebohon	ebohon	PROPN
gujaf-367	13	32	,	,	PUNCT
gujaf-367	13	33	2020	2020	NUM
gujaf-367	13	34	)	)	PUNCT
gujaf-367	13	35	.	.	PUNCT
gujaf-367	14	1	one	one	NUM
gujaf-367	14	2	of	of	ADP
gujaf-367	14	3	the	the	DET
gujaf-367	14	4	major	major	ADJ
gujaf-367	14	5	concerns	concern	NOUN
gujaf-367	14	6	surrounding	surround	VERB
gujaf-367	14	7	external	external	ADJ
gujaf-367	14	8	debt	debt	NOUN
gujaf-367	14	9	is	be	AUX
gujaf-367	14	10	the	the	DET
gujaf-367	14	11	so	so	ADV
gujaf-367	14	12	-	-	PUNCT
gujaf-367	14	13	called	call	VERB
gujaf-367	14	14	“	"	PUNCT
gujaf-367	14	15	debt	debt	NOUN
gujaf-367	14	16	overhang	overhang	NOUN
gujaf-367	14	17	”	"	PUNCT
gujaf-367	14	18	hypothesis	hypothesis	NOUN
gujaf-367	14	19	,	,	PUNCT
gujaf-367	14	20	which	which	PRON
gujaf-367	14	21	posits	posit	VERB
gujaf-367	14	22	that	that	SCONJ
gujaf-367	14	23	when	when	SCONJ
gujaf-367	14	24	a	a	DET
gujaf-367	14	25	country	country	NOUN
gujaf-367	14	26	’s	’s	PART
gujaf-367	14	27	external	external	ADJ
gujaf-367	14	28	debt	debt	NOUN
gujaf-367	14	29	level	level	NOUN
gujaf-367	14	30	exceeds	exceed	VERB
gujaf-367	14	31	its	its	PRON
gujaf-367	14	32	repayment	repayment	NOUN
gujaf-367	14	33	capacity	capacity	NOUN
gujaf-367	14	34	,	,	PUNCT
gujaf-367	14	35	it	it	PRON
gujaf-367	14	36	creates	create	VERB
gujaf-367	14	37	a	a	DET
gujaf-367	14	38	barrier	barrier	NOUN
gujaf-367	14	39	to	to	ADP
gujaf-367	14	40	economic	economic	ADJ
gujaf-367	14	41	growth	growth	NOUN
gujaf-367	14	42	,	,	PUNCT
gujaf-367	14	43	as	as	SCONJ
gujaf-367	14	44	the	the	DET
gujaf-367	14	45	country	country	NOUN
gujaf-367	14	46	faces	face	VERB
gujaf-367	14	47	an	an	DET
gujaf-367	14	48	increased	increase	VERB
gujaf-367	14	49	burden	burden	NOUN
gujaf-367	14	50	of	of	ADP
gujaf-367	14	51	debt	debt	NOUN
gujaf-367	14	52	servicing	servicing	NOUN
gujaf-367	14	53	,	,	PUNCT
gujaf-367	14	54	which	which	PRON
gujaf-367	14	55	can	can	AUX
gujaf-367	14	56	stifle	stifle	VERB
gujaf-367	14	57	domestic	domestic	ADJ
gujaf-367	14	58	investment	investment	NOUN
gujaf-367	14	59	and	and	CCONJ
gujaf-367	14	60	reduce	reduce	VERB
gujaf-367	14	61	economic	economic	ADJ
gujaf-367	14	62	productivity	productivity	NOUN
gujaf-367	14	63	(	(	PUNCT
gujaf-367	14	64	osei	osei	PROPN
gujaf-367	14	65	-	-	PUNCT
gujaf-367	14	66	assibey	assibey	ADJ
gujaf-367	14	67	,	,	PUNCT
gujaf-367	14	68	2021	2021	NUM
gujaf-367	14	69	)	)	PUNCT
gujaf-367	14	70	.	.	PUNCT
gujaf-367	15	1	the	the	DET
gujaf-367	15	2	gusau	gusau	ADJ
gujaf-367	15	3	journal	journal	NOUN
gujaf-367	15	4	of	of	ADP
gujaf-367	15	5	accounting	accounting	NOUN
gujaf-367	15	6	and	and	CCONJ
gujaf-367	15	7	finance	finance	NOUN
gujaf-367	15	8	,	,	PUNCT
gujaf-367	15	9	vol.6	vol.6	PROPN
gujaf-367	15	10	,	,	PUNCT
gujaf-367	15	11	issue	issue	NOUN
gujaf-367	15	12	1	1	NUM
gujaf-367	15	13	,	,	PUNCT
gujaf-367	15	14	april	april	PROPN
gujaf-367	15	15	,	,	PUNCT
gujaf-367	15	16	2025	2025	NUM
gujaf-367	15	17	51	51	NUM
gujaf-367	15	18	debate	debate	NOUN
gujaf-367	15	19	surrounding	surround	VERB
gujaf-367	15	20	the	the	DET
gujaf-367	15	21	effects	effect	NOUN
gujaf-367	15	22	of	of	ADP
gujaf-367	15	23	external	external	ADJ
gujaf-367	15	24	debt	debt	NOUN
gujaf-367	15	25	on	on	ADP
gujaf-367	15	26	economic	economic	ADJ
gujaf-367	15	27	performance	performance	NOUN
gujaf-367	15	28	has	have	AUX
gujaf-367	15	29	become	become	VERB
gujaf-367	15	30	particularly	particularly	ADV
gujaf-367	15	31	relevant	relevant	ADJ
gujaf-367	15	32	in	in	ADP
gujaf-367	15	33	the	the	DET
gujaf-367	15	34	context	context	NOUN
gujaf-367	15	35	of	of	ADP
gujaf-367	15	36	the	the	DET
gujaf-367	15	37	global	global	ADJ
gujaf-367	15	38	economic	economic	ADJ
gujaf-367	15	39	uncertainty	uncertainty	NOUN
gujaf-367	15	40	brought	bring	VERB
gujaf-367	15	41	on	on	ADP
gujaf-367	15	42	by	by	ADP
gujaf-367	15	43	the	the	DET
gujaf-367	15	44	covid19	covid19	NOUN
gujaf-367	15	45	pandemic	pandemic	NOUN
gujaf-367	15	46	,	,	PUNCT
gujaf-367	15	47	which	which	PRON
gujaf-367	15	48	has	have	AUX
gujaf-367	15	49	exacerbated	exacerbate	VERB
gujaf-367	15	50	debt	debt	NOUN
gujaf-367	15	51	burdens	burden	NOUN
gujaf-367	15	52	in	in	ADP
gujaf-367	15	53	many	many	ADJ
gujaf-367	15	54	developing	develop	VERB
gujaf-367	15	55	countries	country	NOUN
gujaf-367	15	56	(	(	PUNCT
gujaf-367	15	57	united	united	PROPN
gujaf-367	15	58	nations	nations	PROPN
gujaf-367	15	59	,	,	PUNCT
gujaf-367	15	60	2023	2023	NUM
gujaf-367	15	61	)	)	PUNCT
gujaf-367	15	62	.	.	PUNCT
gujaf-367	16	1	external	external	ADJ
gujaf-367	16	2	debt	debt	NOUN
gujaf-367	16	3	inflows	inflow	NOUN
gujaf-367	16	4	often	often	ADV
gujaf-367	16	5	come	come	VERB
gujaf-367	16	6	with	with	ADP
gujaf-367	16	7	the	the	DET
gujaf-367	16	8	condition	condition	NOUN
gujaf-367	16	9	of	of	ADP
gujaf-367	16	10	servicing	servicing	NOUN
gujaf-367	16	11	,	,	PUNCT
gujaf-367	16	12	which	which	PRON
gujaf-367	16	13	diverts	divert	VERB
gujaf-367	16	14	foreign	foreign	ADJ
gujaf-367	16	15	exchange	exchange	NOUN
gujaf-367	16	16	resources	resource	NOUN
gujaf-367	16	17	from	from	ADP
gujaf-367	16	18	productive	productive	ADJ
gujaf-367	16	19	investment	investment	NOUN
gujaf-367	16	20	into	into	ADP
gujaf-367	16	21	debt	debt	NOUN
gujaf-367	16	22	repayment	repayment	NOUN
gujaf-367	16	23	.	.	PUNCT
gujaf-367	17	1	this	this	PRON
gujaf-367	17	2	represents	represent	VERB
gujaf-367	17	3	a	a	DET
gujaf-367	17	4	significant	significant	ADJ
gujaf-367	17	5	economic	economic	ADJ
gujaf-367	17	6	challenge	challenge	NOUN
gujaf-367	17	7	,	,	PUNCT
gujaf-367	17	8	as	as	SCONJ
gujaf-367	17	9	it	it	PRON
gujaf-367	17	10	places	place	VERB
gujaf-367	17	11	pressure	pressure	NOUN
gujaf-367	17	12	on	on	ADP
gujaf-367	17	13	the	the	DET
gujaf-367	17	14	country	country	NOUN
gujaf-367	17	15	’s	’s	PART
gujaf-367	17	16	foreign	foreign	ADJ
gujaf-367	17	17	exchange	exchange	NOUN
gujaf-367	17	18	reserves	reserve	NOUN
gujaf-367	17	19	,	,	PUNCT
gujaf-367	17	20	potentially	potentially	ADV
gujaf-367	17	21	causing	cause	VERB
gujaf-367	17	22	a	a	DET
gujaf-367	17	23	decrease	decrease	NOUN
gujaf-367	17	24	in	in	ADP
gujaf-367	17	25	available	available	ADJ
gujaf-367	17	26	funds	fund	NOUN
gujaf-367	17	27	for	for	ADP
gujaf-367	17	28	development	development	NOUN
gujaf-367	17	29	(	(	PUNCT
gujaf-367	17	30	alemu	alemu	PROPN
gujaf-367	17	31	et	et	PROPN
gujaf-367	17	32	al	al	PROPN
gujaf-367	17	33	.	.	PROPN
gujaf-367	17	34	,	,	PUNCT
gujaf-367	17	35	2021	2021	NUM
gujaf-367	17	36	)	)	PUNCT
gujaf-367	17	37	.	.	PUNCT
gujaf-367	18	1	the	the	DET
gujaf-367	18	2	accumulation	accumulation	NOUN
gujaf-367	18	3	of	of	ADP
gujaf-367	18	4	external	external	ADJ
gujaf-367	18	5	debt	debt	NOUN
gujaf-367	18	6	,	,	PUNCT
gujaf-367	18	7	especially	especially	ADV
gujaf-367	18	8	at	at	ADP
gujaf-367	18	9	concessional	concessional	ADJ
gujaf-367	18	10	rates	rate	NOUN
gujaf-367	18	11	,	,	PUNCT
gujaf-367	18	12	can	can	AUX
gujaf-367	18	13	provide	provide	VERB
gujaf-367	18	14	temporary	temporary	ADJ
gujaf-367	18	15	relief	relief	NOUN
gujaf-367	18	16	but	but	CCONJ
gujaf-367	18	17	can	can	AUX
gujaf-367	18	18	also	also	ADV
gujaf-367	18	19	lead	lead	VERB
gujaf-367	18	20	to	to	ADP
gujaf-367	18	21	long	long	ADJ
gujaf-367	18	22	-	-	PUNCT
gujaf-367	18	23	term	term	NOUN
gujaf-367	18	24	financial	financial	ADJ
gujaf-367	18	25	instability	instability	NOUN
gujaf-367	18	26	if	if	SCONJ
gujaf-367	18	27	the	the	DET
gujaf-367	18	28	borrowing	borrowing	NOUN
gujaf-367	18	29	is	be	AUX
gujaf-367	18	30	not	not	PART
gujaf-367	18	31	accompanied	accompany	VERB
gujaf-367	18	32	by	by	ADP
gujaf-367	18	33	a	a	DET
gujaf-367	18	34	corresponding	corresponding	ADJ
gujaf-367	18	35	increase	increase	NOUN
gujaf-367	18	36	in	in	ADP
gujaf-367	18	37	productive	productive	ADJ
gujaf-367	18	38	capacity	capacity	NOUN
gujaf-367	18	39	(	(	PUNCT
gujaf-367	18	40	mlambo	mlambo	PROPN
gujaf-367	18	41	&	&	CCONJ
gujaf-367	18	42	ranganai	ranganai	ADJ
gujaf-367	18	43	,	,	PUNCT
gujaf-367	18	44	2022	2022	NUM
gujaf-367	18	45	)	)	PUNCT
gujaf-367	18	46	.	.	PUNCT
gujaf-367	19	1	in	in	ADP
gujaf-367	19	2	recent	recent	ADJ
gujaf-367	19	3	years	year	NOUN
gujaf-367	19	4	,	,	PUNCT
gujaf-367	19	5	the	the	DET
gujaf-367	19	6	risk	risk	NOUN
gujaf-367	19	7	of	of	ADP
gujaf-367	19	8	a	a	DET
gujaf-367	19	9	debt	debt	NOUN
gujaf-367	19	10	crisis	crisis	NOUN
gujaf-367	19	11	has	have	AUX
gujaf-367	19	12	escalated	escalate	VERB
gujaf-367	19	13	in	in	ADP
gujaf-367	19	14	many	many	ADJ
gujaf-367	19	15	african	african	ADJ
gujaf-367	19	16	countries	country	NOUN
gujaf-367	19	17	,	,	PUNCT
gujaf-367	19	18	particularly	particularly	ADV
gujaf-367	19	19	in	in	ADP
gujaf-367	19	20	those	those	PRON
gujaf-367	19	21	that	that	PRON
gujaf-367	19	22	have	have	AUX
gujaf-367	19	23	been	be	AUX
gujaf-367	19	24	categorized	categorize	VERB
gujaf-367	19	25	as	as	ADP
gujaf-367	19	26	heavily	heavily	ADV
gujaf-367	19	27	indebted	indebted	ADJ
gujaf-367	19	28	poor	poor	ADJ
gujaf-367	19	29	countries	country	NOUN
gujaf-367	19	30	(	(	PUNCT
gujaf-367	19	31	hipcs	hipc	NOUN
gujaf-367	19	32	)	)	PUNCT
gujaf-367	19	33	,	,	PUNCT
gujaf-367	19	34	where	where	SCONJ
gujaf-367	19	35	debt	debt	NOUN
gujaf-367	19	36	levels	level	NOUN
gujaf-367	19	37	have	have	AUX
gujaf-367	19	38	reached	reach	VERB
gujaf-367	19	39	unsustainable	unsustainable	ADJ
gujaf-367	19	40	levels	level	NOUN
gujaf-367	19	41	,	,	PUNCT
gujaf-367	19	42	with	with	ADP
gujaf-367	19	43	repayment	repayment	NOUN
gujaf-367	19	44	obligations	obligation	NOUN
gujaf-367	19	45	threatening	threaten	VERB
gujaf-367	19	46	to	to	PART
gujaf-367	19	47	undermine	undermine	VERB
gujaf-367	19	48	economic	economic	ADJ
gujaf-367	19	49	growth	growth	NOUN
gujaf-367	19	50	(	(	PUNCT
gujaf-367	19	51	amri	amri	PROPN
gujaf-367	19	52	,	,	PUNCT
gujaf-367	19	53	2023	2023	NUM
gujaf-367	19	54	)	)	PUNCT
gujaf-367	19	55	.	.	PUNCT
gujaf-367	20	1	in	in	ADP
gujaf-367	20	2	the	the	DET
gujaf-367	20	3	context	context	NOUN
gujaf-367	20	4	of	of	ADP
gujaf-367	20	5	the	the	DET
gujaf-367	20	6	economic	economic	ADJ
gujaf-367	20	7	community	community	NOUN
gujaf-367	20	8	of	of	ADP
gujaf-367	20	9	west	west	ADJ
gujaf-367	20	10	african	african	ADJ
gujaf-367	20	11	states	state	NOUN
gujaf-367	20	12	(	(	PUNCT
gujaf-367	20	13	ecowas	ecowas	PROPN
gujaf-367	20	14	)	)	PUNCT
gujaf-367	20	15	,	,	PUNCT
gujaf-367	20	16	the	the	DET
gujaf-367	20	17	accumulation	accumulation	NOUN
gujaf-367	20	18	of	of	ADP
gujaf-367	20	19	external	external	ADJ
gujaf-367	20	20	debt	debt	NOUN
gujaf-367	20	21	has	have	AUX
gujaf-367	20	22	been	be	AUX
gujaf-367	20	23	driven	drive	VERB
gujaf-367	20	24	by	by	ADP
gujaf-367	20	25	a	a	DET
gujaf-367	20	26	variety	variety	NOUN
gujaf-367	20	27	of	of	ADP
gujaf-367	20	28	factors	factor	NOUN
gujaf-367	20	29	,	,	PUNCT
gujaf-367	20	30	both	both	CCONJ
gujaf-367	20	31	common	common	ADJ
gujaf-367	20	32	and	and	CCONJ
gujaf-367	20	33	regionspecific	regionspecific	NOUN
gujaf-367	20	34	.	.	PUNCT
gujaf-367	21	1	ecowas	ecowas	PROPN
gujaf-367	21	2	countries	country	NOUN
gujaf-367	21	3	,	,	PUNCT
gujaf-367	21	4	like	like	ADP
gujaf-367	21	5	many	many	ADJ
gujaf-367	21	6	other	other	ADJ
gujaf-367	21	7	developing	develop	VERB
gujaf-367	21	8	nations	nation	NOUN
gujaf-367	21	9	,	,	PUNCT
gujaf-367	21	10	face	face	VERB
gujaf-367	21	11	persistent	persistent	ADJ
gujaf-367	21	12	challenges	challenge	NOUN
gujaf-367	21	13	such	such	ADJ
gujaf-367	21	14	as	as	ADP
gujaf-367	21	15	low	low	ADJ
gujaf-367	21	16	levels	level	NOUN
gujaf-367	21	17	of	of	ADP
gujaf-367	21	18	productivity	productivity	NOUN
gujaf-367	21	19	,	,	PUNCT
gujaf-367	21	20	inadequate	inadequate	ADJ
gujaf-367	21	21	infrastructure	infrastructure	NOUN
gujaf-367	21	22	,	,	PUNCT
gujaf-367	21	23	and	and	CCONJ
gujaf-367	21	24	political	political	ADJ
gujaf-367	21	25	instability	instability	NOUN
gujaf-367	21	26	,	,	PUNCT
gujaf-367	21	27	all	all	PRON
gujaf-367	21	28	of	of	ADP
gujaf-367	21	29	which	which	PRON
gujaf-367	21	30	contribute	contribute	VERB
gujaf-367	21	31	to	to	ADP
gujaf-367	21	32	the	the	DET
gujaf-367	21	33	heavy	heavy	ADJ
gujaf-367	21	34	reliance	reliance	NOUN
gujaf-367	21	35	on	on	ADP
gujaf-367	21	36	external	external	ADJ
gujaf-367	21	37	loans	loan	NOUN
gujaf-367	21	38	to	to	PART
gujaf-367	21	39	finance	finance	VERB
gujaf-367	21	40	development	development	NOUN
gujaf-367	21	41	(	(	PUNCT
gujaf-367	21	42	dube	dube	PROPN
gujaf-367	21	43	et	et	PROPN
gujaf-367	21	44	al	al	PROPN
gujaf-367	21	45	.	.	PROPN
gujaf-367	21	46	,	,	PUNCT
gujaf-367	21	47	2020	2020	NUM
gujaf-367	21	48	)	)	PUNCT
gujaf-367	21	49	.	.	PUNCT
gujaf-367	22	1	these	these	DET
gujaf-367	22	2	countries	country	NOUN
gujaf-367	22	3	also	also	ADV
gujaf-367	22	4	face	face	VERB
gujaf-367	22	5	challenges	challenge	NOUN
gujaf-367	22	6	related	relate	VERB
gujaf-367	22	7	to	to	ADP
gujaf-367	22	8	civil	civil	ADJ
gujaf-367	22	9	conflict	conflict	NOUN
gujaf-367	22	10	,	,	PUNCT
gujaf-367	22	11	which	which	PRON
gujaf-367	22	12	often	often	ADV
gujaf-367	22	13	necessitates	necessitate	VERB
gujaf-367	22	14	additional	additional	ADJ
gujaf-367	22	15	borrowing	borrowing	NOUN
gujaf-367	22	16	to	to	PART
gujaf-367	22	17	meet	meet	VERB
gujaf-367	22	18	emergency	emergency	NOUN
gujaf-367	22	19	financing	financing	NOUN
gujaf-367	22	20	needs	need	NOUN
gujaf-367	22	21	(	(	PUNCT
gujaf-367	22	22	umar	umar	PROPN
gujaf-367	22	23	&	&	CCONJ
gujaf-367	22	24	yusuf	yusuf	PROPN
gujaf-367	22	25	,	,	PUNCT
gujaf-367	22	26	2021	2021	NUM
gujaf-367	22	27	)	)	PUNCT
gujaf-367	22	28	.	.	PUNCT
gujaf-367	23	1	despite	despite	SCONJ
gujaf-367	23	2	the	the	DET
gujaf-367	23	3	need	need	NOUN
gujaf-367	23	4	for	for	ADP
gujaf-367	23	5	external	external	ADJ
gujaf-367	23	6	debt	debt	NOUN
gujaf-367	23	7	to	to	PART
gujaf-367	23	8	close	close	VERB
gujaf-367	23	9	the	the	DET
gujaf-367	23	10	financing	financing	NOUN
gujaf-367	23	11	gap	gap	NOUN
gujaf-367	23	12	,	,	PUNCT
gujaf-367	23	13	there	there	PRON
gujaf-367	23	14	remains	remain	VERB
gujaf-367	23	15	concern	concern	NOUN
gujaf-367	23	16	over	over	ADP
gujaf-367	23	17	its	its	PRON
gujaf-367	23	18	long	long	ADJ
gujaf-367	23	19	-	-	PUNCT
gujaf-367	23	20	term	term	NOUN
gujaf-367	23	21	effects	effect	NOUN
gujaf-367	23	22	,	,	PUNCT
gujaf-367	23	23	particularly	particularly	ADV
gujaf-367	23	24	in	in	ADP
gujaf-367	23	25	light	light	NOUN
gujaf-367	23	26	of	of	ADP
gujaf-367	23	27	the	the	DET
gujaf-367	23	28	region	region	NOUN
gujaf-367	23	29	’s	’s	PART
gujaf-367	23	30	vulnerability	vulnerability	NOUN
gujaf-367	23	31	to	to	ADP
gujaf-367	23	32	global	global	ADJ
gujaf-367	23	33	economic	economic	ADJ
gujaf-367	23	34	fluctuations	fluctuation	NOUN
gujaf-367	23	35	and	and	CCONJ
gujaf-367	23	36	changes	change	NOUN
gujaf-367	23	37	in	in	ADP
gujaf-367	23	38	interest	interest	NOUN
gujaf-367	23	39	rates	rate	NOUN
gujaf-367	23	40	,	,	PUNCT
gujaf-367	23	41	which	which	PRON
gujaf-367	23	42	can	can	AUX
gujaf-367	23	43	further	far	ADV
gujaf-367	23	44	exacerbate	exacerbate	VERB
gujaf-367	23	45	the	the	DET
gujaf-367	23	46	debt	debt	NOUN
gujaf-367	23	47	burden	burden	NOUN
gujaf-367	23	48	(	(	PUNCT
gujaf-367	23	49	ekpo	ekpo	NOUN
gujaf-367	23	50	&	&	CCONJ
gujaf-367	23	51	egbetokun	egbetokun	NOUN
gujaf-367	23	52	,	,	PUNCT
gujaf-367	23	53	2022	2022	NUM
gujaf-367	23	54	)	)	PUNCT
gujaf-367	23	55	.	.	PUNCT
gujaf-367	24	1	given	give	VERB
gujaf-367	24	2	these	these	DET
gujaf-367	24	3	complexities	complexity	NOUN
gujaf-367	24	4	,	,	PUNCT
gujaf-367	24	5	it	it	PRON
gujaf-367	24	6	is	be	AUX
gujaf-367	24	7	essential	essential	ADJ
gujaf-367	24	8	to	to	PART
gujaf-367	24	9	investigate	investigate	VERB
gujaf-367	24	10	the	the	DET
gujaf-367	24	11	specific	specific	ADJ
gujaf-367	24	12	impacts	impact	NOUN
gujaf-367	24	13	of	of	ADP
gujaf-367	24	14	external	external	ADJ
gujaf-367	24	15	debt	debt	NOUN
gujaf-367	24	16	on	on	ADP
gujaf-367	24	17	economic	economic	ADJ
gujaf-367	24	18	growth	growth	NOUN
gujaf-367	24	19	in	in	ADP
gujaf-367	24	20	the	the	DET
gujaf-367	24	21	ecowas	ecowas	PROPN
gujaf-367	24	22	sub	sub	NOUN
gujaf-367	24	23	-	-	NOUN
gujaf-367	24	24	region	region	NOUN
gujaf-367	24	25	.	.	PUNCT
gujaf-367	25	1	previous	previous	ADJ
gujaf-367	25	2	empirical	empirical	ADJ
gujaf-367	25	3	studies	study	NOUN
gujaf-367	25	4	have	have	AUX
gujaf-367	25	5	shown	show	VERB
gujaf-367	25	6	mixed	mixed	ADJ
gujaf-367	25	7	results	result	NOUN
gujaf-367	25	8	regarding	regard	VERB
gujaf-367	25	9	the	the	DET
gujaf-367	25	10	relationship	relationship	NOUN
gujaf-367	25	11	between	between	ADP
gujaf-367	25	12	external	external	ADJ
gujaf-367	25	13	debt	debt	NOUN
gujaf-367	25	14	and	and	CCONJ
gujaf-367	25	15	economic	economic	ADJ
gujaf-367	25	16	growth	growth	NOUN
gujaf-367	25	17	in	in	ADP
gujaf-367	25	18	developing	develop	VERB
gujaf-367	25	19	countries	country	NOUN
gujaf-367	25	20	,	,	PUNCT
gujaf-367	25	21	with	with	ADP
gujaf-367	25	22	some	some	DET
gujaf-367	25	23	arguing	argue	VERB
gujaf-367	25	24	that	that	SCONJ
gujaf-367	25	25	external	external	ADJ
gujaf-367	25	26	debt	debt	NOUN
gujaf-367	25	27	can	can	AUX
gujaf-367	25	28	stimulate	stimulate	VERB
gujaf-367	25	29	growth	growth	NOUN
gujaf-367	25	30	under	under	ADP
gujaf-367	25	31	favorable	favorable	ADJ
gujaf-367	25	32	conditions	condition	NOUN
gujaf-367	25	33	,	,	PUNCT
gujaf-367	25	34	while	while	SCONJ
gujaf-367	25	35	others	other	NOUN
gujaf-367	25	36	suggest	suggest	VERB
gujaf-367	25	37	it	it	PRON
gujaf-367	25	38	may	may	AUX
gujaf-367	25	39	hinder	hinder	VERB
gujaf-367	25	40	development	development	NOUN
gujaf-367	25	41	due	due	ADP
gujaf-367	25	42	to	to	ADP
gujaf-367	25	43	the	the	DET
gujaf-367	25	44	heavy	heavy	ADJ
gujaf-367	25	45	burden	burden	NOUN
gujaf-367	25	46	of	of	ADP
gujaf-367	25	47	debt	debt	NOUN
gujaf-367	25	48	servicing	servicing	NOUN
gujaf-367	25	49	(	(	PUNCT
gujaf-367	25	50	anifowose	anifowose	NOUN
gujaf-367	25	51	,	,	PUNCT
gujaf-367	25	52	2016	2016	NUM
gujaf-367	25	53	;	;	PUNCT
gujaf-367	25	54	lawanson	lawanson	PROPN
gujaf-367	25	55	,	,	PUNCT
gujaf-367	25	56	2014	2014	NUM
gujaf-367	25	57	)	)	PUNCT
gujaf-367	25	58	.	.	PUNCT
gujaf-367	26	1	however	however	ADV
gujaf-367	26	2	,	,	PUNCT
gujaf-367	26	3	studies	study	NOUN
gujaf-367	26	4	focused	focus	VERB
gujaf-367	26	5	on	on	ADP
gujaf-367	26	6	the	the	DET
gujaf-367	26	7	ecowas	ecowas	PROPN
gujaf-367	26	8	region	region	NOUN
gujaf-367	26	9	remain	remain	VERB
gujaf-367	26	10	limited	limited	ADJ
gujaf-367	26	11	,	,	PUNCT
gujaf-367	26	12	and	and	CCONJ
gujaf-367	26	13	a	a	DET
gujaf-367	26	14	more	more	ADV
gujaf-367	26	15	nuanced	nuanced	ADJ
gujaf-367	26	16	understanding	understanding	NOUN
gujaf-367	26	17	of	of	ADP
gujaf-367	26	18	how	how	SCONJ
gujaf-367	26	19	external	external	ADJ
gujaf-367	26	20	debt	debt	NOUN
gujaf-367	26	21	affects	affect	VERB
gujaf-367	26	22	the	the	DET
gujaf-367	26	23	region	region	NOUN
gujaf-367	26	24	’s	’s	PART
gujaf-367	26	25	economic	economic	ADJ
gujaf-367	26	26	performance	performance	NOUN
gujaf-367	26	27	is	be	AUX
gujaf-367	26	28	needed	need	VERB
gujaf-367	26	29	.	.	PUNCT
gujaf-367	27	1	research	research	NOUN
gujaf-367	27	2	in	in	ADP
gujaf-367	27	3	this	this	DET
gujaf-367	27	4	area	area	NOUN
gujaf-367	27	5	can	can	AUX
gujaf-367	27	6	contribute	contribute	VERB
gujaf-367	27	7	valuable	valuable	ADJ
gujaf-367	27	8	insights	insight	NOUN
gujaf-367	27	9	to	to	ADP
gujaf-367	27	10	the	the	DET
gujaf-367	27	11	formulation	formulation	NOUN
gujaf-367	27	12	of	of	ADP
gujaf-367	27	13	debt	debt	NOUN
gujaf-367	27	14	management	management	NOUN
gujaf-367	27	15	policies	policy	NOUN
gujaf-367	27	16	that	that	PRON
gujaf-367	27	17	balance	balance	VERB
gujaf-367	27	18	the	the	DET
gujaf-367	27	19	need	need	NOUN
gujaf-367	27	20	for	for	ADP
gujaf-367	27	21	development	development	NOUN
gujaf-367	27	22	financing	financing	NOUN
gujaf-367	27	23	with	with	ADP
gujaf-367	27	24	the	the	DET
gujaf-367	27	25	risks	risk	NOUN
gujaf-367	27	26	associated	associate	VERB
gujaf-367	27	27	with	with	ADP
gujaf-367	27	28	excessive	excessive	ADJ
gujaf-367	27	29	borrowing	borrowing	NOUN
gujaf-367	27	30	(	(	PUNCT
gujaf-367	27	31	kasidi	kasidi	PROPN
gujaf-367	27	32	&	&	CCONJ
gujaf-367	27	33	said	say	VERB
gujaf-367	27	34	,	,	PUNCT
gujaf-367	27	35	2013	2013	NUM
gujaf-367	27	36	;	;	PUNCT
gujaf-367	27	37	paul	paul	PROPN
gujaf-367	27	38	,	,	PUNCT
gujaf-367	27	39	2017	2017	NUM
gujaf-367	27	40	)	)	PUNCT
gujaf-367	27	41	.	.	PUNCT
gujaf-367	28	1	the	the	DET
gujaf-367	28	2	present	present	ADJ
gujaf-367	28	3	study	study	NOUN
gujaf-367	28	4	aims	aim	VERB
gujaf-367	28	5	to	to	PART
gujaf-367	28	6	address	address	VERB
gujaf-367	28	7	these	these	DET
gujaf-367	28	8	gaps	gap	NOUN
gujaf-367	28	9	by	by	ADP
gujaf-367	28	10	examining	examine	VERB
gujaf-367	28	11	the	the	DET
gujaf-367	28	12	effects	effect	NOUN
gujaf-367	28	13	of	of	ADP
gujaf-367	28	14	external	external	ADJ
gujaf-367	28	15	debt	debt	NOUN
gujaf-367	28	16	and	and	CCONJ
gujaf-367	28	17	debt	debt	NOUN
gujaf-367	28	18	servicing	servicing	NOUN
gujaf-367	28	19	on	on	ADP
gujaf-367	28	20	economic	economic	ADJ
gujaf-367	28	21	growth	growth	NOUN
gujaf-367	28	22	in	in	ADP
gujaf-367	28	23	the	the	DET
gujaf-367	28	24	ecowas	ecowas	PROPN
gujaf-367	28	25	sub	sub	NOUN
gujaf-367	28	26	-	-	NOUN
gujaf-367	28	27	region	region	NOUN
gujaf-367	28	28	.	.	PUNCT
gujaf-367	29	1	this	this	DET
gujaf-367	29	2	study	study	NOUN
gujaf-367	29	3	contributes	contribute	VERB
gujaf-367	29	4	to	to	ADP
gujaf-367	29	5	the	the	DET
gujaf-367	29	6	ongoing	ongoing	ADJ
gujaf-367	29	7	debate	debate	NOUN
gujaf-367	29	8	by	by	ADP
gujaf-367	29	9	focusing	focus	VERB
gujaf-367	29	10	on	on	ADP
gujaf-367	29	11	the	the	DET
gujaf-367	29	12	ecowas	ecowas	PROPN
gujaf-367	29	13	region	region	NOUN
gujaf-367	29	14	,	,	PUNCT
gujaf-367	29	15	where	where	SCONJ
gujaf-367	29	16	these	these	DET
gujaf-367	29	17	dynamics	dynamic	NOUN
gujaf-367	29	18	are	be	AUX
gujaf-367	29	19	particularly	particularly	ADV
gujaf-367	29	20	pronounced	pronounce	VERB
gujaf-367	29	21	,	,	PUNCT
gujaf-367	29	22	providing	provide	VERB
gujaf-367	29	23	empirical	empirical	ADJ
gujaf-367	29	24	evidence	evidence	NOUN
gujaf-367	29	25	to	to	PART
gujaf-367	29	26	inform	inform	VERB
gujaf-367	29	27	policy	policy	NOUN
gujaf-367	29	28	decisions	decision	NOUN
gujaf-367	29	29	and	and	CCONJ
gujaf-367	29	30	debt	debt	NOUN
gujaf-367	29	31	management	management	NOUN
gujaf-367	29	32	strategies	strategy	NOUN
gujaf-367	29	33	aimed	aim	VERB
gujaf-367	29	34	at	at	ADP
gujaf-367	29	35	fostering	foster	VERB
gujaf-367	29	36	sustainable	sustainable	ADJ
gujaf-367	29	37	economic	economic	ADJ
gujaf-367	29	38	growth	growth	NOUN
gujaf-367	29	39	.	.	PUNCT
gujaf-367	30	1	this	this	DET
gujaf-367	30	2	study	study	NOUN
gujaf-367	30	3	uses	use	VERB
gujaf-367	30	4	advanced	advanced	ADJ
gujaf-367	30	5	econometric	econometric	ADJ
gujaf-367	30	6	methods	method	NOUN
gujaf-367	30	7	,	,	PUNCT
gujaf-367	30	8	such	such	ADJ
gujaf-367	30	9	as	as	ADP
gujaf-367	30	10	fixed	fix	VERB
gujaf-367	30	11	and	and	CCONJ
gujaf-367	30	12	random	random	ADJ
gujaf-367	30	13	effects	effect	NOUN
gujaf-367	30	14	models	model	NOUN
gujaf-367	30	15	and	and	CCONJ
gujaf-367	30	16	fully	fully	ADV
gujaf-367	30	17	modified	modify	VERB
gujaf-367	30	18	ordinary	ordinary	ADJ
gujaf-367	30	19	least	least	ADJ
gujaf-367	30	20	squares	square	NOUN
gujaf-367	30	21	(	(	PUNCT
gujaf-367	30	22	fmols	fmol	NOUN
gujaf-367	30	23	)	)	PUNCT
gujaf-367	30	24	estimation	estimation	NOUN
gujaf-367	30	25	,	,	PUNCT
gujaf-367	30	26	to	to	PART
gujaf-367	30	27	address	address	VERB
gujaf-367	30	28	endogeneity	endogeneity	NOUN
gujaf-367	30	29	issues	issue	NOUN
gujaf-367	30	30	and	and	CCONJ
gujaf-367	30	31	capture	capture	VERB
gujaf-367	30	32	the	the	DET
gujaf-367	30	33	dynamic	dynamic	ADJ
gujaf-367	30	34	relationship	relationship	NOUN
gujaf-367	30	35	between	between	ADP
gujaf-367	30	36	debt	debt	NOUN
gujaf-367	30	37	and	and	CCONJ
gujaf-367	30	38	economic	economic	ADJ
gujaf-367	30	39	growth	growth	NOUN
gujaf-367	30	40	.	.	PUNCT
gujaf-367	31	1	by	by	ADP
gujaf-367	31	2	investigating	investigate	VERB
gujaf-367	31	3	the	the	DET
gujaf-367	31	4	impact	impact	NOUN
gujaf-367	31	5	of	of	ADP
gujaf-367	31	6	external	external	ADJ
gujaf-367	31	7	debt	debt	NOUN
gujaf-367	31	8	accumulation	accumulation	NOUN
gujaf-367	31	9	in	in	ADP
gujaf-367	31	10	ecowas	ecowas	PROPN
gujaf-367	31	11	countries	country	NOUN
gujaf-367	31	12	,	,	PUNCT
gujaf-367	31	13	this	this	DET
gujaf-367	31	14	study	study	NOUN
gujaf-367	31	15	seeks	seek	VERB
gujaf-367	31	16	to	to	PART
gujaf-367	31	17	provide	provide	VERB
gujaf-367	31	18	empirical	empirical	ADJ
gujaf-367	31	19	evidence	evidence	NOUN
gujaf-367	31	20	on	on	ADP
gujaf-367	31	21	the	the	DET
gujaf-367	31	22	validity	validity	NOUN
gujaf-367	31	23	of	of	ADP
gujaf-367	31	24	the	the	DET
gujaf-367	31	25	debt	debt	NOUN
gujaf-367	31	26	overhang	overhang	NOUN
gujaf-367	31	27	hypothesis	hypothesis	NOUN
gujaf-367	31	28	in	in	ADP
gujaf-367	31	29	the	the	DET
gujaf-367	31	30	region	region	NOUN
gujaf-367	31	31	and	and	CCONJ
gujaf-367	31	32	offer	offer	VERB
gujaf-367	31	33	policy	policy	NOUN
gujaf-367	31	34	recommendations	recommendation	NOUN
gujaf-367	31	35	for	for	ADP
gujaf-367	31	36	managing	manage	VERB
gujaf-367	31	37	external	external	ADJ
gujaf-367	31	38	debt	debt	NOUN
gujaf-367	31	39	gusau	gusau	ADJ
gujaf-367	31	40	journal	journal	NOUN
gujaf-367	31	41	of	of	ADP
gujaf-367	31	42	accounting	accounting	NOUN
gujaf-367	31	43	and	and	CCONJ
gujaf-367	31	44	finance	finance	NOUN
gujaf-367	31	45	,	,	PUNCT
gujaf-367	31	46	vol.6	vol.6	PROPN
gujaf-367	31	47	,	,	PUNCT
gujaf-367	31	48	issue	issue	NOUN
gujaf-367	31	49	1	1	NUM
gujaf-367	31	50	,	,	PUNCT
gujaf-367	31	51	april	april	PROPN
gujaf-367	31	52	,	,	PUNCT
gujaf-367	31	53	2025	2025	NUM
gujaf-367	31	54	52	52	NUM
gujaf-367	31	55	sustainably	sustainably	ADV
gujaf-367	31	56	.	.	PUNCT
gujaf-367	32	1	the	the	DET
gujaf-367	32	2	findings	finding	NOUN
gujaf-367	32	3	will	will	AUX
gujaf-367	32	4	contribute	contribute	VERB
gujaf-367	32	5	to	to	ADP
gujaf-367	32	6	the	the	DET
gujaf-367	32	7	broader	broad	ADJ
gujaf-367	32	8	discourse	discourse	NOUN
gujaf-367	32	9	on	on	ADP
gujaf-367	32	10	debt	debt	NOUN
gujaf-367	32	11	management	management	NOUN
gujaf-367	32	12	strategies	strategy	NOUN
gujaf-367	32	13	,	,	PUNCT
gujaf-367	32	14	providing	provide	VERB
gujaf-367	32	15	insights	insight	NOUN
gujaf-367	32	16	that	that	PRON
gujaf-367	32	17	can	can	AUX
gujaf-367	32	18	guide	guide	VERB
gujaf-367	32	19	policymakers	policymaker	NOUN
gujaf-367	32	20	in	in	ADP
gujaf-367	32	21	ensuring	ensure	VERB
gujaf-367	32	22	that	that	SCONJ
gujaf-367	32	23	external	external	ADJ
gujaf-367	32	24	debt	debt	NOUN
gujaf-367	32	25	remains	remain	VERB
gujaf-367	32	26	a	a	DET
gujaf-367	32	27	catalyst	catalyst	NOUN
gujaf-367	32	28	for	for	ADP
gujaf-367	32	29	development	development	NOUN
gujaf-367	32	30	rather	rather	ADV
gujaf-367	32	31	than	than	ADP
gujaf-367	32	32	an	an	DET
gujaf-367	32	33	obstacle	obstacle	NOUN
gujaf-367	32	34	to	to	ADP
gujaf-367	32	35	growth	growth	NOUN
gujaf-367	32	36	(	(	PUNCT
gujaf-367	32	37	anifowose	anifowose	NOUN
gujaf-367	32	38	,	,	PUNCT
gujaf-367	32	39	2016	2016	NUM
gujaf-367	32	40	;	;	PUNCT
gujaf-367	32	41	kasidi	kasidi	PROPN
gujaf-367	32	42	&	&	CCONJ
gujaf-367	32	43	said	say	VERB
gujaf-367	32	44	,	,	PUNCT
gujaf-367	32	45	2013	2013	NUM
gujaf-367	32	46	)	)	PUNCT
gujaf-367	32	47	.	.	PUNCT
gujaf-367	33	1	2	2	X
gujaf-367	33	2	.	.	X
gujaf-367	33	3	empirical	empirical	ADJ
gujaf-367	33	4	literature	literature	PROPN
gujaf-367	33	5	the	the	DET
gujaf-367	33	6	empirical	empirical	ADJ
gujaf-367	33	7	literature	literature	NOUN
gujaf-367	33	8	on	on	ADP
gujaf-367	33	9	the	the	DET
gujaf-367	33	10	relationship	relationship	NOUN
gujaf-367	33	11	between	between	ADP
gujaf-367	33	12	external	external	ADJ
gujaf-367	33	13	debt	debt	NOUN
gujaf-367	33	14	,	,	PUNCT
gujaf-367	33	15	debt	debt	NOUN
gujaf-367	33	16	servicing	servicing	NOUN
gujaf-367	33	17	,	,	PUNCT
gujaf-367	33	18	and	and	CCONJ
gujaf-367	33	19	economic	economic	ADJ
gujaf-367	33	20	growth	growth	NOUN
gujaf-367	33	21	is	be	AUX
gujaf-367	33	22	extensive	extensive	ADJ
gujaf-367	33	23	.	.	PUNCT
gujaf-367	34	1	while	while	SCONJ
gujaf-367	34	2	the	the	DET
gujaf-367	34	3	relationship	relationship	NOUN
gujaf-367	34	4	between	between	ADP
gujaf-367	34	5	external	external	ADJ
gujaf-367	34	6	debt	debt	NOUN
gujaf-367	34	7	and	and	CCONJ
gujaf-367	34	8	economic	economic	ADJ
gujaf-367	34	9	growth	growth	NOUN
gujaf-367	34	10	remains	remain	VERB
gujaf-367	34	11	complex	complex	ADJ
gujaf-367	34	12	and	and	CCONJ
gujaf-367	34	13	context	context	NOUN
gujaf-367	34	14	-	-	PUNCT
gujaf-367	34	15	dependent	dependent	ADJ
gujaf-367	34	16	,	,	PUNCT
gujaf-367	34	17	a	a	DET
gujaf-367	34	18	broad	broad	ADJ
gujaf-367	34	19	consensus	consensus	NOUN
gujaf-367	34	20	in	in	ADP
gujaf-367	34	21	the	the	DET
gujaf-367	34	22	literature	literature	NOUN
gujaf-367	34	23	suggests	suggest	VERB
gujaf-367	34	24	that	that	SCONJ
gujaf-367	34	25	debt	debt	NOUN
gujaf-367	34	26	can	can	AUX
gujaf-367	34	27	be	be	AUX
gujaf-367	34	28	both	both	CCONJ
gujaf-367	34	29	a	a	DET
gujaf-367	34	30	tool	tool	NOUN
gujaf-367	34	31	for	for	ADP
gujaf-367	34	32	development	development	NOUN
gujaf-367	34	33	and	and	CCONJ
gujaf-367	34	34	a	a	DET
gujaf-367	34	35	constraint	constraint	NOUN
gujaf-367	34	36	on	on	ADP
gujaf-367	34	37	growth	growth	NOUN
gujaf-367	34	38	,	,	PUNCT
gujaf-367	34	39	depending	depend	VERB
gujaf-367	34	40	on	on	ADP
gujaf-367	34	41	factors	factor	NOUN
gujaf-367	34	42	such	such	ADJ
gujaf-367	34	43	as	as	ADP
gujaf-367	34	44	debt	debt	NOUN
gujaf-367	34	45	management	management	NOUN
gujaf-367	34	46	,	,	PUNCT
gujaf-367	34	47	institutional	institutional	ADJ
gujaf-367	34	48	quality	quality	NOUN
gujaf-367	34	49	,	,	PUNCT
gujaf-367	34	50	and	and	CCONJ
gujaf-367	34	51	the	the	DET
gujaf-367	34	52	productive	productive	ADJ
gujaf-367	34	53	use	use	NOUN
gujaf-367	34	54	of	of	ADP
gujaf-367	34	55	borrowed	borrow	VERB
gujaf-367	34	56	funds	fund	NOUN
gujaf-367	34	57	.	.	PUNCT
gujaf-367	35	1	one	one	NUM
gujaf-367	35	2	of	of	ADP
gujaf-367	35	3	the	the	DET
gujaf-367	35	4	key	key	ADJ
gujaf-367	35	5	findings	finding	NOUN
gujaf-367	35	6	from	from	ADP
gujaf-367	35	7	this	this	DET
gujaf-367	35	8	body	body	NOUN
gujaf-367	35	9	of	of	ADP
gujaf-367	35	10	research	research	NOUN
gujaf-367	35	11	is	be	AUX
gujaf-367	35	12	the	the	DET
gujaf-367	35	13	mixed	mixed	ADJ
gujaf-367	35	14	impact	impact	NOUN
gujaf-367	35	15	of	of	ADP
gujaf-367	35	16	external	external	ADJ
gujaf-367	35	17	debt	debt	NOUN
gujaf-367	35	18	on	on	ADP
gujaf-367	35	19	economic	economic	ADJ
gujaf-367	35	20	growth	growth	NOUN
gujaf-367	35	21	,	,	PUNCT
gujaf-367	35	22	with	with	SCONJ
gujaf-367	35	23	the	the	DET
gujaf-367	35	24	direction	direction	NOUN
gujaf-367	35	25	of	of	ADP
gujaf-367	35	26	the	the	DET
gujaf-367	35	27	relationship	relationship	NOUN
gujaf-367	35	28	often	often	ADV
gujaf-367	35	29	contingent	contingent	ADJ
gujaf-367	35	30	on	on	ADP
gujaf-367	35	31	a	a	DET
gujaf-367	35	32	variety	variety	NOUN
gujaf-367	35	33	of	of	ADP
gujaf-367	35	34	factors	factor	NOUN
gujaf-367	35	35	such	such	ADJ
gujaf-367	35	36	as	as	ADP
gujaf-367	35	37	the	the	DET
gujaf-367	35	38	level	level	NOUN
gujaf-367	35	39	of	of	ADP
gujaf-367	35	40	debt	debt	NOUN
gujaf-367	35	41	,	,	PUNCT
gujaf-367	35	42	the	the	DET
gujaf-367	35	43	efficiency	efficiency	NOUN
gujaf-367	35	44	of	of	ADP
gujaf-367	35	45	debt	debt	NOUN
gujaf-367	35	46	usage	usage	NOUN
gujaf-367	35	47	,	,	PUNCT
gujaf-367	35	48	and	and	CCONJ
gujaf-367	35	49	the	the	DET
gujaf-367	35	50	macroeconomic	macroeconomic	ADJ
gujaf-367	35	51	environment	environment	NOUN
gujaf-367	35	52	.	.	PUNCT
gujaf-367	36	1	for	for	ADP
gujaf-367	36	2	instance	instance	NOUN
gujaf-367	36	3	,	,	PUNCT
gujaf-367	36	4	studies	study	NOUN
gujaf-367	36	5	by	by	ADP
gujaf-367	36	6	reinhart	reinhart	PROPN
gujaf-367	36	7	et	et	PROPN
gujaf-367	36	8	al	al	PROPN
gujaf-367	36	9	.	.	PROPN
gujaf-367	36	10	(	(	PUNCT
gujaf-367	36	11	2020	2020	NUM
gujaf-367	36	12	)	)	PUNCT
gujaf-367	36	13	and	and	CCONJ
gujaf-367	36	14	arezki	arezki	NOUN
gujaf-367	36	15	et	et	PROPN
gujaf-367	36	16	al	al	PROPN
gujaf-367	36	17	.	.	PROPN
gujaf-367	37	1	(	(	PUNCT
gujaf-367	37	2	2021	2021	NUM
gujaf-367	37	3	)	)	PUNCT
gujaf-367	37	4	argue	argue	VERB
gujaf-367	37	5	that	that	SCONJ
gujaf-367	37	6	external	external	ADJ
gujaf-367	37	7	debt	debt	NOUN
gujaf-367	37	8	,	,	PUNCT
gujaf-367	37	9	when	when	SCONJ
gujaf-367	37	10	used	use	VERB
gujaf-367	37	11	for	for	ADP
gujaf-367	37	12	productive	productive	ADJ
gujaf-367	37	13	investment	investment	NOUN
gujaf-367	37	14	,	,	PUNCT
gujaf-367	37	15	can	can	AUX
gujaf-367	37	16	foster	foster	VERB
gujaf-367	37	17	growth	growth	NOUN
gujaf-367	37	18	.	.	PUNCT
gujaf-367	38	1	however	however	ADV
gujaf-367	38	2	,	,	PUNCT
gujaf-367	38	3	when	when	SCONJ
gujaf-367	38	4	debt	debt	NOUN
gujaf-367	38	5	is	be	AUX
gujaf-367	38	6	misallocated	misallocate	VERB
gujaf-367	38	7	or	or	CCONJ
gujaf-367	38	8	becomes	become	VERB
gujaf-367	38	9	unsustainable	unsustainable	ADJ
gujaf-367	38	10	,	,	PUNCT
gujaf-367	38	11	it	it	PRON
gujaf-367	38	12	can	can	AUX
gujaf-367	38	13	impede	impede	VERB
gujaf-367	38	14	economic	economic	ADJ
gujaf-367	38	15	progress	progress	NOUN
gujaf-367	38	16	by	by	ADP
gujaf-367	38	17	imposing	impose	VERB
gujaf-367	38	18	significant	significant	ADJ
gujaf-367	38	19	financial	financial	ADJ
gujaf-367	38	20	burdens	burden	NOUN
gujaf-367	38	21	on	on	ADP
gujaf-367	38	22	governments	government	NOUN
gujaf-367	38	23	.	.	PUNCT
gujaf-367	39	1	in	in	ADP
gujaf-367	39	2	the	the	DET
gujaf-367	39	3	context	context	NOUN
gujaf-367	39	4	of	of	ADP
gujaf-367	39	5	sub	sub	ADJ
gujaf-367	39	6	-	-	ADJ
gujaf-367	39	7	saharan	saharan	ADJ
gujaf-367	39	8	africa	africa	PROPN
gujaf-367	39	9	,	,	PUNCT
gujaf-367	39	10	several	several	ADJ
gujaf-367	39	11	studies	study	NOUN
gujaf-367	39	12	have	have	AUX
gujaf-367	39	13	found	find	VERB
gujaf-367	39	14	a	a	DET
gujaf-367	39	15	generally	generally	ADV
gujaf-367	39	16	negative	negative	ADJ
gujaf-367	39	17	relationship	relationship	NOUN
gujaf-367	39	18	between	between	ADP
gujaf-367	39	19	external	external	ADJ
gujaf-367	39	20	debt	debt	NOUN
gujaf-367	39	21	and	and	CCONJ
gujaf-367	39	22	economic	economic	ADJ
gujaf-367	39	23	growth	growth	NOUN
gujaf-367	39	24	,	,	PUNCT
gujaf-367	39	25	particularly	particularly	ADV
gujaf-367	39	26	in	in	ADP
gujaf-367	39	27	the	the	DET
gujaf-367	39	28	long	long	ADJ
gujaf-367	39	29	run	run	NOUN
gujaf-367	39	30	.	.	PUNCT
gujaf-367	40	1	for	for	ADP
gujaf-367	40	2	example	example	NOUN
gujaf-367	40	3	,	,	PUNCT
gujaf-367	40	4	moyo	moyo	NOUN
gujaf-367	40	5	(	(	PUNCT
gujaf-367	40	6	2021	2021	NUM
gujaf-367	40	7	)	)	PUNCT
gujaf-367	40	8	and	and	CCONJ
gujaf-367	40	9	bakare	bakare	VERB
gujaf-367	40	10	et	et	PROPN
gujaf-367	40	11	al	al	PROPN
gujaf-367	40	12	.	.	PROPN
gujaf-367	40	13	(	(	PUNCT
gujaf-367	40	14	2023	2023	NUM
gujaf-367	40	15	)	)	PUNCT
gujaf-367	40	16	conclude	conclude	VERB
gujaf-367	40	17	that	that	SCONJ
gujaf-367	40	18	the	the	DET
gujaf-367	40	19	rising	rise	VERB
gujaf-367	40	20	debt	debt	NOUN
gujaf-367	40	21	levels	level	NOUN
gujaf-367	40	22	in	in	ADP
gujaf-367	40	23	african	african	ADJ
gujaf-367	40	24	economies	economy	NOUN
gujaf-367	40	25	have	have	AUX
gujaf-367	40	26	often	often	ADV
gujaf-367	40	27	been	be	AUX
gujaf-367	40	28	accompanied	accompany	VERB
gujaf-367	40	29	by	by	ADP
gujaf-367	40	30	increased	increase	VERB
gujaf-367	40	31	debt	debt	NOUN
gujaf-367	40	32	servicing	servicing	NOUN
gujaf-367	40	33	costs	cost	NOUN
gujaf-367	40	34	,	,	PUNCT
gujaf-367	40	35	which	which	PRON
gujaf-367	40	36	crowd	crowd	VERB
gujaf-367	40	37	out	out	ADP
gujaf-367	40	38	productive	productive	ADJ
gujaf-367	40	39	public	public	ADJ
gujaf-367	40	40	investment	investment	NOUN
gujaf-367	40	41	and	and	CCONJ
gujaf-367	40	42	limit	limit	VERB
gujaf-367	40	43	the	the	DET
gujaf-367	40	44	ability	ability	NOUN
gujaf-367	40	45	of	of	ADP
gujaf-367	40	46	governments	government	NOUN
gujaf-367	40	47	to	to	PART
gujaf-367	40	48	finance	finance	VERB
gujaf-367	40	49	key	key	ADJ
gujaf-367	40	50	development	development	NOUN
gujaf-367	40	51	projects	project	NOUN
gujaf-367	40	52	.	.	PUNCT
gujaf-367	41	1	this	this	PRON
gujaf-367	41	2	is	be	AUX
gujaf-367	41	3	echoed	echo	VERB
gujaf-367	41	4	by	by	ADP
gujaf-367	41	5	fosu	fosu	NOUN
gujaf-367	41	6	(	(	PUNCT
gujaf-367	41	7	2022	2022	NUM
gujaf-367	41	8	)	)	PUNCT
gujaf-367	41	9	,	,	PUNCT
gujaf-367	41	10	who	who	PRON
gujaf-367	41	11	suggests	suggest	VERB
gujaf-367	41	12	that	that	SCONJ
gujaf-367	41	13	external	external	ADJ
gujaf-367	41	14	debt	debt	NOUN
gujaf-367	41	15	leads	lead	VERB
gujaf-367	41	16	to	to	ADP
gujaf-367	41	17	debt	debt	NOUN
gujaf-367	41	18	overhang	overhang	NOUN
gujaf-367	41	19	,	,	PUNCT
gujaf-367	41	20	where	where	SCONJ
gujaf-367	41	21	countries	country	NOUN
gujaf-367	41	22	are	be	AUX
gujaf-367	41	23	unable	unable	ADJ
gujaf-367	41	24	to	to	PART
gujaf-367	41	25	service	service	VERB
gujaf-367	41	26	existing	exist	VERB
gujaf-367	41	27	debt	debt	NOUN
gujaf-367	41	28	,	,	PUNCT
gujaf-367	41	29	thereby	thereby	ADV
gujaf-367	41	30	hindering	hinder	VERB
gujaf-367	41	31	future	future	ADJ
gujaf-367	41	32	borrowing	borrowing	NOUN
gujaf-367	41	33	and	and	CCONJ
gujaf-367	41	34	economic	economic	ADJ
gujaf-367	41	35	growth	growth	NOUN
gujaf-367	41	36	.	.	PUNCT
gujaf-367	42	1	furthermore	furthermore	ADV
gujaf-367	42	2	,	,	PUNCT
gujaf-367	42	3	empirical	empirical	ADJ
gujaf-367	42	4	work	work	NOUN
gujaf-367	42	5	by	by	ADP
gujaf-367	42	6	olofin	olofin	NOUN
gujaf-367	42	7	&	&	CCONJ
gujaf-367	42	8	ganiyu	ganiyu	PROPN
gujaf-367	42	9	(	(	PUNCT
gujaf-367	42	10	2021	2021	NUM
gujaf-367	42	11	)	)	PUNCT
gujaf-367	42	12	highlights	highlight	NOUN
gujaf-367	42	13	that	that	PRON
gujaf-367	42	14	the	the	DET
gujaf-367	42	15	adverse	adverse	ADJ
gujaf-367	42	16	effects	effect	NOUN
gujaf-367	42	17	of	of	ADP
gujaf-367	42	18	external	external	ADJ
gujaf-367	42	19	debt	debt	NOUN
gujaf-367	42	20	are	be	AUX
gujaf-367	42	21	more	more	ADV
gujaf-367	42	22	pronounced	pronounce	VERB
gujaf-367	42	23	in	in	ADP
gujaf-367	42	24	countries	country	NOUN
gujaf-367	42	25	with	with	ADP
gujaf-367	42	26	weak	weak	ADJ
gujaf-367	42	27	institutions	institution	NOUN
gujaf-367	42	28	and	and	CCONJ
gujaf-367	42	29	inefficient	inefficient	ADJ
gujaf-367	42	30	fiscal	fiscal	ADJ
gujaf-367	42	31	policies	policy	NOUN
gujaf-367	42	32	,	,	PUNCT
gujaf-367	42	33	suggesting	suggest	VERB
gujaf-367	42	34	that	that	SCONJ
gujaf-367	42	35	the	the	DET
gujaf-367	42	36	capacity	capacity	NOUN
gujaf-367	42	37	to	to	PART
gujaf-367	42	38	manage	manage	VERB
gujaf-367	42	39	debt	debt	NOUN
gujaf-367	42	40	plays	play	VERB
gujaf-367	42	41	a	a	DET
gujaf-367	42	42	crucial	crucial	ADJ
gujaf-367	42	43	role	role	NOUN
gujaf-367	42	44	in	in	ADP
gujaf-367	42	45	determining	determine	VERB
gujaf-367	42	46	its	its	PRON
gujaf-367	42	47	impact	impact	NOUN
gujaf-367	42	48	on	on	ADP
gujaf-367	42	49	growth	growth	NOUN
gujaf-367	42	50	.	.	PUNCT
gujaf-367	43	1	however	however	ADV
gujaf-367	43	2	,	,	PUNCT
gujaf-367	43	3	other	other	ADJ
gujaf-367	43	4	studies	study	NOUN
gujaf-367	43	5	present	present	VERB
gujaf-367	43	6	more	more	ADV
gujaf-367	43	7	nuanced	nuanced	ADJ
gujaf-367	43	8	findings	finding	NOUN
gujaf-367	43	9	,	,	PUNCT
gujaf-367	43	10	suggesting	suggest	VERB
gujaf-367	43	11	that	that	SCONJ
gujaf-367	43	12	external	external	ADJ
gujaf-367	43	13	debt	debt	NOUN
gujaf-367	43	14	,	,	PUNCT
gujaf-367	43	15	under	under	ADP
gujaf-367	43	16	certain	certain	ADJ
gujaf-367	43	17	conditions	condition	NOUN
gujaf-367	43	18	,	,	PUNCT
gujaf-367	43	19	can	can	AUX
gujaf-367	43	20	have	have	VERB
gujaf-367	43	21	a	a	DET
gujaf-367	43	22	positive	positive	ADJ
gujaf-367	43	23	or	or	CCONJ
gujaf-367	43	24	neutral	neutral	ADJ
gujaf-367	43	25	effect	effect	NOUN
gujaf-367	43	26	on	on	ADP
gujaf-367	43	27	growth	growth	NOUN
gujaf-367	43	28	.	.	PUNCT
gujaf-367	44	1	studies	study	NOUN
gujaf-367	44	2	by	by	ADP
gujaf-367	44	3	khan	khan	PROPN
gujaf-367	44	4	&	&	CCONJ
gujaf-367	44	5	qayyum	qayyum	PROPN
gujaf-367	44	6	(	(	PUNCT
gujaf-367	44	7	2021	2021	NUM
gujaf-367	44	8	)	)	PUNCT
gujaf-367	44	9	and	and	CCONJ
gujaf-367	44	10	osei	osei	PROPN
gujaf-367	44	11	(	(	PUNCT
gujaf-367	44	12	2020	2020	NUM
gujaf-367	44	13	)	)	PUNCT
gujaf-367	44	14	indicate	indicate	VERB
gujaf-367	44	15	that	that	SCONJ
gujaf-367	44	16	external	external	ADJ
gujaf-367	44	17	debt	debt	NOUN
gujaf-367	44	18	can	can	AUX
gujaf-367	44	19	stimulate	stimulate	VERB
gujaf-367	44	20	economic	economic	ADJ
gujaf-367	44	21	growth	growth	NOUN
gujaf-367	44	22	when	when	SCONJ
gujaf-367	44	23	the	the	DET
gujaf-367	44	24	borrowing	borrowing	NOUN
gujaf-367	44	25	is	be	AUX
gujaf-367	44	26	directed	direct	VERB
gujaf-367	44	27	towards	towards	ADP
gujaf-367	44	28	investments	investment	NOUN
gujaf-367	44	29	in	in	ADP
gujaf-367	44	30	infrastructure	infrastructure	NOUN
gujaf-367	44	31	,	,	PUNCT
gujaf-367	44	32	education	education	NOUN
gujaf-367	44	33	,	,	PUNCT
gujaf-367	44	34	and	and	CCONJ
gujaf-367	44	35	other	other	ADJ
gujaf-367	44	36	growthenhancing	growthenhance	VERB
gujaf-367	44	37	sectors	sector	NOUN
gujaf-367	44	38	.	.	PUNCT
gujaf-367	45	1	in	in	ADP
gujaf-367	45	2	these	these	DET
gujaf-367	45	3	cases	case	NOUN
gujaf-367	45	4	,	,	PUNCT
gujaf-367	45	5	debt	debt	NOUN
gujaf-367	45	6	may	may	AUX
gujaf-367	45	7	not	not	PART
gujaf-367	45	8	only	only	ADV
gujaf-367	45	9	be	be	AUX
gujaf-367	45	10	sustainable	sustainable	ADJ
gujaf-367	45	11	but	but	CCONJ
gujaf-367	45	12	also	also	ADV
gujaf-367	45	13	contribute	contribute	VERB
gujaf-367	45	14	to	to	ADP
gujaf-367	45	15	the	the	DET
gujaf-367	45	16	accumulation	accumulation	NOUN
gujaf-367	45	17	of	of	ADP
gujaf-367	45	18	human	human	ADJ
gujaf-367	45	19	and	and	CCONJ
gujaf-367	45	20	physical	physical	ADJ
gujaf-367	45	21	capital	capital	NOUN
gujaf-367	45	22	,	,	PUNCT
gujaf-367	45	23	ultimately	ultimately	ADV
gujaf-367	45	24	driving	drive	VERB
gujaf-367	45	25	economic	economic	ADJ
gujaf-367	45	26	development	development	NOUN
gujaf-367	45	27	.	.	PUNCT
gujaf-367	46	1	this	this	DET
gujaf-367	46	2	perspective	perspective	NOUN
gujaf-367	46	3	is	be	AUX
gujaf-367	46	4	further	far	ADV
gujaf-367	46	5	supported	support	VERB
gujaf-367	46	6	by	by	ADP
gujaf-367	46	7	recent	recent	ADJ
gujaf-367	46	8	work	work	NOUN
gujaf-367	46	9	by	by	ADP
gujaf-367	46	10	rajan	rajan	PROPN
gujaf-367	46	11	&	&	CCONJ
gujaf-367	46	12	subramanian	subramanian	PROPN
gujaf-367	46	13	(	(	PUNCT
gujaf-367	46	14	2023	2023	NUM
gujaf-367	46	15	)	)	PUNCT
gujaf-367	46	16	,	,	PUNCT
gujaf-367	46	17	who	who	PRON
gujaf-367	46	18	argue	argue	VERB
gujaf-367	46	19	that	that	SCONJ
gujaf-367	46	20	debt	debt	NOUN
gujaf-367	46	21	can	can	AUX
gujaf-367	46	22	be	be	AUX
gujaf-367	46	23	beneficial	beneficial	ADJ
gujaf-367	46	24	when	when	SCONJ
gujaf-367	46	25	accompanied	accompany	VERB
gujaf-367	46	26	by	by	ADP
gujaf-367	46	27	effective	effective	ADJ
gujaf-367	46	28	governance	governance	NOUN
gujaf-367	46	29	and	and	CCONJ
gujaf-367	46	30	strong	strong	ADJ
gujaf-367	46	31	institutional	institutional	ADJ
gujaf-367	46	32	frameworks	framework	NOUN
gujaf-367	46	33	that	that	PRON
gujaf-367	46	34	ensure	ensure	VERB
gujaf-367	46	35	debt	debt	NOUN
gujaf-367	46	36	is	be	AUX
gujaf-367	46	37	used	use	VERB
gujaf-367	46	38	productively	productively	ADV
gujaf-367	46	39	and	and	CCONJ
gujaf-367	46	40	does	do	AUX
gujaf-367	46	41	not	not	PART
gujaf-367	46	42	lead	lead	VERB
gujaf-367	46	43	to	to	ADP
gujaf-367	46	44	excessive	excessive	ADJ
gujaf-367	46	45	accumulation	accumulation	NOUN
gujaf-367	46	46	.	.	PUNCT
gujaf-367	47	1	moreover	moreover	ADV
gujaf-367	47	2	,	,	PUNCT
gujaf-367	47	3	the	the	DET
gujaf-367	47	4	literature	literature	NOUN
gujaf-367	47	5	also	also	ADV
gujaf-367	47	6	emphasizes	emphasize	VERB
gujaf-367	47	7	the	the	DET
gujaf-367	47	8	importance	importance	NOUN
gujaf-367	47	9	of	of	ADP
gujaf-367	47	10	debt	debt	NOUN
gujaf-367	47	11	servicing	servicing	NOUN
gujaf-367	47	12	in	in	ADP
gujaf-367	47	13	the	the	DET
gujaf-367	47	14	growth	growth	NOUN
gujaf-367	47	15	-	-	PUNCT
gujaf-367	47	16	debt	debt	NOUN
gujaf-367	47	17	relationship	relationship	NOUN
gujaf-367	47	18	.	.	PUNCT
gujaf-367	48	1	several	several	ADJ
gujaf-367	48	2	studies	study	NOUN
gujaf-367	48	3	have	have	AUX
gujaf-367	48	4	found	find	VERB
gujaf-367	48	5	that	that	SCONJ
gujaf-367	48	6	the	the	DET
gujaf-367	48	7	way	way	NOUN
gujaf-367	48	8	countries	country	NOUN
gujaf-367	48	9	manage	manage	VERB
gujaf-367	48	10	their	their	PRON
gujaf-367	48	11	debt	debt	NOUN
gujaf-367	48	12	servicing	servicing	NOUN
gujaf-367	48	13	obligations	obligation	NOUN
gujaf-367	48	14	can	can	AUX
gujaf-367	48	15	significantly	significantly	ADV
gujaf-367	48	16	influence	influence	VERB
gujaf-367	48	17	the	the	DET
gujaf-367	48	18	impact	impact	NOUN
gujaf-367	48	19	of	of	ADP
gujaf-367	48	20	debt	debt	NOUN
gujaf-367	48	21	on	on	ADP
gujaf-367	48	22	growth	growth	NOUN
gujaf-367	48	23	.	.	PUNCT
gujaf-367	49	1	a	a	DET
gujaf-367	49	2	study	study	NOUN
gujaf-367	49	3	by	by	ADP
gujaf-367	49	4	ndikumana	ndikumana	PROPN
gujaf-367	49	5	&	&	CCONJ
gujaf-367	49	6	boyce	boyce	PROPN
gujaf-367	49	7	(	(	PUNCT
gujaf-367	49	8	2021	2021	NUM
gujaf-367	49	9	)	)	PUNCT
gujaf-367	49	10	concludes	conclude	VERB
gujaf-367	49	11	that	that	SCONJ
gujaf-367	49	12	countries	country	NOUN
gujaf-367	49	13	with	with	ADP
gujaf-367	49	14	lower	low	ADJ
gujaf-367	49	15	debt	debt	NOUN
gujaf-367	49	16	servicing	servicing	NOUN
gujaf-367	49	17	costs	cost	NOUN
gujaf-367	49	18	relative	relative	ADJ
gujaf-367	49	19	to	to	ADP
gujaf-367	49	20	gdp	gdp	NOUN
gujaf-367	49	21	experience	experience	NOUN
gujaf-367	49	22	more	more	ADV
gujaf-367	49	23	positive	positive	ADJ
gujaf-367	49	24	growth	growth	NOUN
gujaf-367	49	25	outcomes	outcome	NOUN
gujaf-367	49	26	,	,	PUNCT
gujaf-367	49	27	as	as	SCONJ
gujaf-367	49	28	resources	resource	NOUN
gujaf-367	49	29	are	be	AUX
gujaf-367	49	30	freed	free	VERB
gujaf-367	49	31	up	up	ADP
gujaf-367	49	32	for	for	ADP
gujaf-367	49	33	other	other	ADJ
gujaf-367	49	34	developmental	developmental	ADJ
gujaf-367	49	35	uses	use	NOUN
gujaf-367	49	36	.	.	PUNCT
gujaf-367	50	1	similarly	similarly	ADV
gujaf-367	50	2	,	,	PUNCT
gujaf-367	50	3	akinmoladun	akinmoladun	PROPN
gujaf-367	50	4	et	et	PROPN
gujaf-367	50	5	al	al	PROPN
gujaf-367	50	6	.	.	PROPN
gujaf-367	51	1	(	(	PUNCT
gujaf-367	51	2	2022	2022	NUM
gujaf-367	51	3	)	)	PUNCT
gujaf-367	51	4	argue	argue	VERB
gujaf-367	51	5	that	that	SCONJ
gujaf-367	51	6	debt	debt	NOUN
gujaf-367	51	7	servicing	servicing	NOUN
gujaf-367	51	8	can	can	AUX
gujaf-367	51	9	be	be	AUX
gujaf-367	51	10	a	a	DET
gujaf-367	51	11	positive	positive	ADJ
gujaf-367	51	12	growth	growth	NOUN
gujaf-367	51	13	driver	driver	NOUN
gujaf-367	51	14	when	when	SCONJ
gujaf-367	51	15	it	it	PRON
gujaf-367	51	16	signals	signal	VERB
gujaf-367	51	17	to	to	ADP
gujaf-367	51	18	international	international	ADJ
gujaf-367	51	19	investors	investor	NOUN
gujaf-367	51	20	that	that	SCONJ
gujaf-367	51	21	a	a	DET
gujaf-367	51	22	country	country	NOUN
gujaf-367	51	23	is	be	AUX
gujaf-367	51	24	committed	commit	VERB
gujaf-367	51	25	to	to	ADP
gujaf-367	51	26	fiscal	fiscal	ADJ
gujaf-367	51	27	discipline	discipline	NOUN
gujaf-367	51	28	and	and	CCONJ
gujaf-367	51	29	debt	debt	NOUN
gujaf-367	51	30	sustainability	sustainability	NOUN
gujaf-367	51	31	.	.	PUNCT
gujaf-367	52	1	this	this	DET
gujaf-367	52	2	argument	argument	NOUN
gujaf-367	52	3	is	be	AUX
gujaf-367	52	4	supported	support	VERB
gujaf-367	52	5	by	by	ADP
gujaf-367	52	6	findings	finding	NOUN
gujaf-367	52	7	from	from	ADP
gujaf-367	52	8	sambo	sambo	PROPN
gujaf-367	52	9	&	&	CCONJ
gujaf-367	52	10	johnson	johnson	PROPN
gujaf-367	52	11	(	(	PUNCT
gujaf-367	52	12	2023	2023	NUM
gujaf-367	52	13	)	)	PUNCT
gujaf-367	52	14	,	,	PUNCT
gujaf-367	52	15	gusau	gusau	ADJ
gujaf-367	52	16	journal	journal	NOUN
gujaf-367	52	17	of	of	ADP
gujaf-367	52	18	accounting	accounting	NOUN
gujaf-367	52	19	and	and	CCONJ
gujaf-367	52	20	finance	finance	NOUN
gujaf-367	52	21	,	,	PUNCT
gujaf-367	52	22	vol.6	vol.6	PROPN
gujaf-367	52	23	,	,	PUNCT
gujaf-367	52	24	issue	issue	NOUN
gujaf-367	52	25	1	1	NUM
gujaf-367	52	26	,	,	PUNCT
gujaf-367	52	27	april	april	PROPN
gujaf-367	52	28	,	,	PUNCT
gujaf-367	52	29	2025	2025	NUM
gujaf-367	52	30	53	53	NUM
gujaf-367	52	31	who	who	PRON
gujaf-367	52	32	show	show	VERB
gujaf-367	52	33	that	that	SCONJ
gujaf-367	52	34	debt	debt	NOUN
gujaf-367	52	35	servicing	servicing	NOUN
gujaf-367	52	36	,	,	PUNCT
gujaf-367	52	37	while	while	SCONJ
gujaf-367	52	38	costly	costly	ADJ
gujaf-367	52	39	,	,	PUNCT
gujaf-367	52	40	may	may	AUX
gujaf-367	52	41	increase	increase	VERB
gujaf-367	52	42	a	a	DET
gujaf-367	52	43	country	country	NOUN
gujaf-367	52	44	's	's	PART
gujaf-367	52	45	access	access	NOUN
gujaf-367	52	46	to	to	ADP
gujaf-367	52	47	capital	capital	NOUN
gujaf-367	52	48	markets	market	NOUN
gujaf-367	52	49	,	,	PUNCT
gujaf-367	52	50	reduce	reduce	VERB
gujaf-367	52	51	borrowing	borrowing	NOUN
gujaf-367	52	52	costs	cost	NOUN
gujaf-367	52	53	,	,	PUNCT
gujaf-367	52	54	and	and	CCONJ
gujaf-367	52	55	enhance	enhance	VERB
gujaf-367	52	56	economic	economic	ADJ
gujaf-367	52	57	stability	stability	NOUN
gujaf-367	52	58	,	,	PUNCT
gujaf-367	52	59	particularly	particularly	ADV
gujaf-367	52	60	when	when	SCONJ
gujaf-367	52	61	debt	debt	NOUN
gujaf-367	52	62	levels	level	NOUN
gujaf-367	52	63	are	be	AUX
gujaf-367	52	64	perceived	perceive	VERB
gujaf-367	52	65	as	as	ADP
gujaf-367	52	66	manageable	manageable	ADJ
gujaf-367	52	67	.	.	PUNCT
gujaf-367	53	1	a	a	DET
gujaf-367	53	2	critical	critical	ADJ
gujaf-367	53	3	insight	insight	NOUN
gujaf-367	53	4	that	that	PRON
gujaf-367	53	5	emerges	emerge	VERB
gujaf-367	53	6	from	from	ADP
gujaf-367	53	7	the	the	DET
gujaf-367	53	8	recent	recent	ADJ
gujaf-367	53	9	literature	literature	NOUN
gujaf-367	53	10	is	be	AUX
gujaf-367	53	11	the	the	DET
gujaf-367	53	12	role	role	NOUN
gujaf-367	53	13	of	of	ADP
gujaf-367	53	14	institutional	institutional	ADJ
gujaf-367	53	15	quality	quality	NOUN
gujaf-367	53	16	in	in	ADP
gujaf-367	53	17	shaping	shape	VERB
gujaf-367	53	18	the	the	DET
gujaf-367	53	19	debt	debt	NOUN
gujaf-367	53	20	-	-	PUNCT
gujaf-367	53	21	growth	growth	NOUN
gujaf-367	53	22	relationship	relationship	NOUN
gujaf-367	53	23	.	.	PUNCT
gujaf-367	54	1	studies	study	NOUN
gujaf-367	54	2	by	by	ADP
gujaf-367	54	3	muna	muna	PROPN
gujaf-367	54	4	&	&	CCONJ
gujaf-367	54	5	chijioke	chijioke	PROPN
gujaf-367	54	6	(	(	PUNCT
gujaf-367	54	7	2023	2023	NUM
gujaf-367	54	8	)	)	PUNCT
gujaf-367	54	9	and	and	CCONJ
gujaf-367	54	10	babatunde	babatunde	PROPN
gujaf-367	54	11	&	&	CCONJ
gujaf-367	54	12	akintoye	akintoye	PROPN
gujaf-367	54	13	(	(	PUNCT
gujaf-367	54	14	2023	2023	NUM
gujaf-367	54	15	)	)	PUNCT
gujaf-367	54	16	suggest	suggest	VERB
gujaf-367	54	17	that	that	SCONJ
gujaf-367	54	18	strong	strong	ADJ
gujaf-367	54	19	institutions	institution	NOUN
gujaf-367	54	20	can	can	AUX
gujaf-367	54	21	mitigate	mitigate	VERB
gujaf-367	54	22	the	the	DET
gujaf-367	54	23	negative	negative	ADJ
gujaf-367	54	24	impacts	impact	NOUN
gujaf-367	54	25	of	of	ADP
gujaf-367	54	26	external	external	ADJ
gujaf-367	54	27	debt	debt	NOUN
gujaf-367	54	28	by	by	ADP
gujaf-367	54	29	ensuring	ensure	VERB
gujaf-367	54	30	that	that	SCONJ
gujaf-367	54	31	borrowing	borrowing	NOUN
gujaf-367	54	32	is	be	AUX
gujaf-367	54	33	transparent	transparent	ADJ
gujaf-367	54	34	,	,	PUNCT
gujaf-367	54	35	properly	properly	ADV
gujaf-367	54	36	allocated	allocate	VERB
gujaf-367	54	37	,	,	PUNCT
gujaf-367	54	38	and	and	CCONJ
gujaf-367	54	39	used	use	VERB
gujaf-367	54	40	for	for	ADP
gujaf-367	54	41	development	development	NOUN
gujaf-367	54	42	purposes	purpose	NOUN
gujaf-367	54	43	.	.	PUNCT
gujaf-367	55	1	in	in	ADP
gujaf-367	55	2	contrast	contrast	NOUN
gujaf-367	55	3	,	,	PUNCT
gujaf-367	55	4	countries	country	NOUN
gujaf-367	55	5	with	with	ADP
gujaf-367	55	6	weaker	weak	ADJ
gujaf-367	55	7	governance	governance	NOUN
gujaf-367	55	8	structures	structure	NOUN
gujaf-367	55	9	are	be	AUX
gujaf-367	55	10	more	more	ADV
gujaf-367	55	11	likely	likely	ADJ
gujaf-367	55	12	to	to	PART
gujaf-367	55	13	experience	experience	VERB
gujaf-367	55	14	adverse	adverse	ADJ
gujaf-367	55	15	growth	growth	NOUN
gujaf-367	55	16	outcomes	outcome	NOUN
gujaf-367	55	17	from	from	ADP
gujaf-367	55	18	external	external	ADJ
gujaf-367	55	19	debt	debt	NOUN
gujaf-367	55	20	,	,	PUNCT
gujaf-367	55	21	as	as	SCONJ
gujaf-367	55	22	poor	poor	ADJ
gujaf-367	55	23	debt	debt	NOUN
gujaf-367	55	24	management	management	NOUN
gujaf-367	55	25	practices	practice	NOUN
gujaf-367	55	26	can	can	AUX
gujaf-367	55	27	lead	lead	VERB
gujaf-367	55	28	to	to	ADP
gujaf-367	55	29	inefficiencies	inefficiency	NOUN
gujaf-367	55	30	,	,	PUNCT
gujaf-367	55	31	corruption	corruption	NOUN
gujaf-367	55	32	,	,	PUNCT
gujaf-367	55	33	and	and	CCONJ
gujaf-367	55	34	unsustainable	unsustainable	ADJ
gujaf-367	55	35	debt	debt	NOUN
gujaf-367	55	36	levels	level	NOUN
gujaf-367	55	37	.	.	PUNCT
gujaf-367	56	1	this	this	PRON
gujaf-367	56	2	underscores	underscore	VERB
gujaf-367	56	3	the	the	DET
gujaf-367	56	4	need	need	NOUN
gujaf-367	56	5	for	for	ADP
gujaf-367	56	6	comprehensive	comprehensive	ADJ
gujaf-367	56	7	institutional	institutional	ADJ
gujaf-367	56	8	reforms	reform	NOUN
gujaf-367	56	9	alongside	alongside	ADP
gujaf-367	56	10	debt	debt	NOUN
gujaf-367	56	11	management	management	NOUN
gujaf-367	56	12	strategies	strategy	NOUN
gujaf-367	56	13	to	to	PART
gujaf-367	56	14	ensure	ensure	VERB
gujaf-367	56	15	that	that	SCONJ
gujaf-367	56	16	borrowing	borrowing	NOUN
gujaf-367	56	17	contributes	contribute	VERB
gujaf-367	56	18	positively	positively	ADV
gujaf-367	56	19	to	to	ADP
gujaf-367	56	20	economic	economic	ADJ
gujaf-367	56	21	growth	growth	NOUN
gujaf-367	56	22	.	.	PUNCT
gujaf-367	57	1	finally	finally	ADV
gujaf-367	57	2	,	,	PUNCT
gujaf-367	57	3	the	the	DET
gujaf-367	57	4	recent	recent	ADJ
gujaf-367	57	5	literature	literature	NOUN
gujaf-367	57	6	also	also	ADV
gujaf-367	57	7	emphasizes	emphasize	VERB
gujaf-367	57	8	the	the	DET
gujaf-367	57	9	importance	importance	NOUN
gujaf-367	57	10	of	of	ADP
gujaf-367	57	11	debt	debt	NOUN
gujaf-367	57	12	composition	composition	NOUN
gujaf-367	57	13	in	in	ADP
gujaf-367	57	14	determining	determine	VERB
gujaf-367	57	15	its	its	PRON
gujaf-367	57	16	impact	impact	NOUN
gujaf-367	57	17	on	on	ADP
gujaf-367	57	18	growth	growth	NOUN
gujaf-367	57	19	.	.	PUNCT
gujaf-367	58	1	according	accord	VERB
gujaf-367	58	2	to	to	ADP
gujaf-367	58	3	studies	study	NOUN
gujaf-367	58	4	by	by	ADP
gujaf-367	58	5	afolabi	afolabi	NOUN
gujaf-367	58	6	&	&	CCONJ
gujaf-367	58	7	oladipo	oladipo	PROPN
gujaf-367	58	8	(	(	PUNCT
gujaf-367	58	9	2023	2023	NUM
gujaf-367	58	10	)	)	PUNCT
gujaf-367	58	11	and	and	CCONJ
gujaf-367	58	12	akinmoladun	akinmoladun	PROPN
gujaf-367	58	13	et	et	PROPN
gujaf-367	58	14	al	al	PROPN
gujaf-367	58	15	.	.	PROPN
gujaf-367	58	16	(	(	PUNCT
gujaf-367	58	17	2022	2022	NUM
gujaf-367	58	18	)	)	PUNCT
gujaf-367	58	19	,	,	PUNCT
gujaf-367	58	20	the	the	DET
gujaf-367	58	21	type	type	NOUN
gujaf-367	58	22	of	of	ADP
gujaf-367	58	23	debt	debt	NOUN
gujaf-367	58	24	affects	affect	VERB
gujaf-367	58	25	its	its	PRON
gujaf-367	58	26	potential	potential	NOUN
gujaf-367	58	27	for	for	ADP
gujaf-367	58	28	fostering	foster	VERB
gujaf-367	58	29	economic	economic	ADJ
gujaf-367	58	30	growth	growth	NOUN
gujaf-367	58	31	.	.	PUNCT
gujaf-367	59	1	concessional	concessional	ADJ
gujaf-367	59	2	debt	debt	NOUN
gujaf-367	59	3	,	,	PUNCT
gujaf-367	59	4	which	which	PRON
gujaf-367	59	5	comes	come	VERB
gujaf-367	59	6	with	with	ADP
gujaf-367	59	7	lower	low	ADJ
gujaf-367	59	8	interest	interest	NOUN
gujaf-367	59	9	rates	rate	NOUN
gujaf-367	59	10	and	and	CCONJ
gujaf-367	59	11	longer	long	ADJ
gujaf-367	59	12	repayment	repayment	NOUN
gujaf-367	59	13	periods	period	NOUN
gujaf-367	59	14	,	,	PUNCT
gujaf-367	59	15	is	be	AUX
gujaf-367	59	16	less	less	ADV
gujaf-367	59	17	likely	likely	ADJ
gujaf-367	59	18	to	to	PART
gujaf-367	59	19	hinder	hinder	VERB
gujaf-367	59	20	growth	growth	NOUN
gujaf-367	59	21	compared	compare	VERB
gujaf-367	59	22	to	to	ADP
gujaf-367	59	23	non	non	ADJ
gujaf-367	59	24	-	-	ADJ
gujaf-367	59	25	concessional	concessional	ADJ
gujaf-367	59	26	debt	debt	NOUN
gujaf-367	59	27	,	,	PUNCT
gujaf-367	59	28	which	which	PRON
gujaf-367	59	29	often	often	ADV
gujaf-367	59	30	carries	carry	VERB
gujaf-367	59	31	higher	high	ADJ
gujaf-367	59	32	interest	interest	NOUN
gujaf-367	59	33	rates	rate	NOUN
gujaf-367	59	34	and	and	CCONJ
gujaf-367	59	35	shorter	short	ADJ
gujaf-367	59	36	repayment	repayment	NOUN
gujaf-367	59	37	periods	period	NOUN
gujaf-367	59	38	.	.	PUNCT
gujaf-367	60	1	this	this	DET
gujaf-367	60	2	distinction	distinction	NOUN
gujaf-367	60	3	highlights	highlight	VERB
gujaf-367	60	4	the	the	DET
gujaf-367	60	5	importance	importance	NOUN
gujaf-367	60	6	of	of	ADP
gujaf-367	60	7	borrowing	borrow	VERB
gujaf-367	60	8	on	on	ADP
gujaf-367	60	9	favorable	favorable	ADJ
gujaf-367	60	10	terms	term	NOUN
gujaf-367	60	11	to	to	PART
gujaf-367	60	12	reduce	reduce	VERB
gujaf-367	60	13	the	the	DET
gujaf-367	60	14	debt	debt	NOUN
gujaf-367	60	15	burden	burden	NOUN
gujaf-367	60	16	and	and	CCONJ
gujaf-367	60	17	minimize	minimize	VERB
gujaf-367	60	18	the	the	DET
gujaf-367	60	19	negative	negative	ADJ
gujaf-367	60	20	effects	effect	NOUN
gujaf-367	60	21	of	of	ADP
gujaf-367	60	22	debt	debt	NOUN
gujaf-367	60	23	servicing	servicing	NOUN
gujaf-367	60	24	on	on	ADP
gujaf-367	60	25	growth	growth	NOUN
gujaf-367	60	26	.	.	PUNCT
gujaf-367	61	1	3.0	3.0	NUM
gujaf-367	61	2	methodology	methodology	NOUN
gujaf-367	61	3	the	the	DET
gujaf-367	61	4	dataset	dataset	NOUN
gujaf-367	61	5	employed	employ	VERB
gujaf-367	61	6	in	in	ADP
gujaf-367	61	7	this	this	DET
gujaf-367	61	8	study	study	NOUN
gujaf-367	61	9	comprises	comprise	VERB
gujaf-367	61	10	panel	panel	NOUN
gujaf-367	61	11	data	datum	NOUN
gujaf-367	61	12	,	,	PUNCT
gujaf-367	61	13	which	which	PRON
gujaf-367	61	14	integrates	integrate	VERB
gujaf-367	61	15	both	both	DET
gujaf-367	61	16	cross	cross	ADJ
gujaf-367	61	17	-	-	ADJ
gujaf-367	61	18	sectional	sectional	ADJ
gujaf-367	61	19	and	and	CCONJ
gujaf-367	61	20	time	time	NOUN
gujaf-367	61	21	-	-	PUNCT
gujaf-367	61	22	series	series	NOUN
gujaf-367	61	23	dimensions	dimension	NOUN
gujaf-367	61	24	,	,	PUNCT
gujaf-367	61	25	covering	cover	VERB
gujaf-367	61	26	a	a	DET
gujaf-367	61	27	sample	sample	NOUN
gujaf-367	61	28	of	of	ADP
gujaf-367	61	29	15	15	NUM
gujaf-367	61	30	ecowas	ecowas	PROPN
gujaf-367	61	31	countries	country	NOUN
gujaf-367	61	32	,	,	PUNCT
gujaf-367	61	33	including	include	VERB
gujaf-367	61	34	nigeria	nigeria	PROPN
gujaf-367	61	35	,	,	PUNCT
gujaf-367	61	36	ghana	ghana	PROPN
gujaf-367	61	37	,	,	PUNCT
gujaf-367	61	38	senegal	senegal	NOUN
gujaf-367	61	39	,	,	PUNCT
gujaf-367	61	40	and	and	CCONJ
gujaf-367	61	41	others	other	NOUN
gujaf-367	61	42	,	,	PUNCT
gujaf-367	61	43	for	for	ADP
gujaf-367	61	44	over	over	ADP
gujaf-367	61	45	the	the	DET
gujaf-367	61	46	period	period	NOUN
gujaf-367	61	47	2005	2005	NUM
gujaf-367	61	48	to	to	ADP
gujaf-367	61	49	2023	2023	NUM
gujaf-367	61	50	.	.	PUNCT
gujaf-367	62	1	this	this	DET
gujaf-367	62	2	results	result	VERB
gujaf-367	62	3	in	in	ADP
gujaf-367	62	4	a	a	DET
gujaf-367	62	5	total	total	NOUN
gujaf-367	62	6	of	of	ADP
gujaf-367	62	7	210	210	NUM
gujaf-367	62	8	observations	observation	NOUN
gujaf-367	62	9	(	(	PUNCT
gujaf-367	62	10	15	15	NUM
gujaf-367	62	11	countries	country	NOUN
gujaf-367	62	12	×	×	NOUN
gujaf-367	62	13	14	14	NUM
gujaf-367	62	14	years	year	NOUN
gujaf-367	62	15	)	)	PUNCT
gujaf-367	62	16	.	.	PUNCT
gujaf-367	63	1	the	the	DET
gujaf-367	63	2	study	study	NOUN
gujaf-367	63	3	focuses	focus	VERB
gujaf-367	63	4	on	on	ADP
gujaf-367	63	5	key	key	ADJ
gujaf-367	63	6	macroeconomic	macroeconomic	ADJ
gujaf-367	63	7	variables	variable	NOUN
gujaf-367	63	8	such	such	ADJ
gujaf-367	63	9	as	as	ADP
gujaf-367	63	10	the	the	DET
gujaf-367	63	11	gross	gross	ADJ
gujaf-367	63	12	domestic	domestic	ADJ
gujaf-367	63	13	product	product	NOUN
gujaf-367	63	14	growth	growth	NOUN
gujaf-367	63	15	rate	rate	NOUN
gujaf-367	63	16	(	(	PUNCT
gujaf-367	63	17	gdpg	gdpg	PROPN
gujaf-367	63	18	)	)	PUNCT
gujaf-367	63	19	,	,	PUNCT
gujaf-367	63	20	external	external	ADJ
gujaf-367	63	21	debt	debt	NOUN
gujaf-367	63	22	(	(	PUNCT
gujaf-367	63	23	exdb	exdb	PROPN
gujaf-367	63	24	)	)	PUNCT
gujaf-367	63	25	,	,	PUNCT
gujaf-367	63	26	external	external	ADJ
gujaf-367	63	27	debt	debt	NOUN
gujaf-367	63	28	service	service	NOUN
gujaf-367	63	29	(	(	PUNCT
gujaf-367	63	30	exds	exds	NOUN
gujaf-367	63	31	)	)	PUNCT
gujaf-367	63	32	,	,	PUNCT
gujaf-367	63	33	employment	employment	NOUN
gujaf-367	63	34	level	level	NOUN
gujaf-367	63	35	(	(	PUNCT
gujaf-367	63	36	empl	empl	PROPN
gujaf-367	63	37	)	)	PUNCT
gujaf-367	63	38	,	,	PUNCT
gujaf-367	63	39	gross	gross	ADJ
gujaf-367	63	40	fixed	fix	VERB
gujaf-367	63	41	capital	capital	NOUN
gujaf-367	63	42	formation	formation	NOUN
gujaf-367	63	43	to	to	ADP
gujaf-367	63	44	gdp	gdp	NOUN
gujaf-367	63	45	ratio	ratio	NOUN
gujaf-367	63	46	(	(	PUNCT
gujaf-367	63	47	gfcg	gfcg	NOUN
gujaf-367	63	48	)	)	PUNCT
gujaf-367	63	49	,	,	PUNCT
gujaf-367	63	50	and	and	CCONJ
gujaf-367	63	51	foreign	foreign	ADJ
gujaf-367	63	52	direct	direct	ADJ
gujaf-367	63	53	investment	investment	NOUN
gujaf-367	63	54	to	to	ADP
gujaf-367	63	55	gdp	gdp	NOUN
gujaf-367	63	56	ratio	ratio	NOUN
gujaf-367	63	57	(	(	PUNCT
gujaf-367	63	58	fdig	fdig	PROPN
gujaf-367	63	59	)	)	PUNCT
gujaf-367	63	60	.	.	PUNCT
gujaf-367	64	1	the	the	DET
gujaf-367	64	2	variable	variable	NOUN
gujaf-367	64	3	for	for	ADP
gujaf-367	64	4	lagged	lag	VERB
gujaf-367	64	5	gdp	gdp	NOUN
gujaf-367	64	6	growth	growth	NOUN
gujaf-367	64	7	(	(	PUNCT
gujaf-367	64	8	gdpl	gdpl	NOUN
gujaf-367	64	9	)	)	PUNCT
gujaf-367	64	10	is	be	AUX
gujaf-367	64	11	also	also	ADV
gujaf-367	64	12	included	include	VERB
gujaf-367	64	13	to	to	PART
gujaf-367	64	14	capture	capture	VERB
gujaf-367	64	15	dynamic	dynamic	ADJ
gujaf-367	64	16	effects	effect	NOUN
gujaf-367	64	17	.	.	PUNCT
gujaf-367	65	1	data	datum	NOUN
gujaf-367	65	2	were	be	AUX
gujaf-367	65	3	primarily	primarily	ADV
gujaf-367	65	4	sourced	source	VERB
gujaf-367	65	5	from	from	ADP
gujaf-367	65	6	the	the	DET
gujaf-367	65	7	world	world	PROPN
gujaf-367	65	8	bank	bank	PROPN
gujaf-367	65	9	’s	’s	PART
gujaf-367	65	10	world	world	NOUN
gujaf-367	65	11	development	development	NOUN
gujaf-367	65	12	indicators	indicator	NOUN
gujaf-367	65	13	(	(	PUNCT
gujaf-367	65	14	2019	2019	NUM
gujaf-367	65	15	)	)	PUNCT
gujaf-367	65	16	for	for	ADP
gujaf-367	65	17	financial	financial	ADJ
gujaf-367	65	18	and	and	CCONJ
gujaf-367	65	19	investment	investment	NOUN
gujaf-367	65	20	metrics	metric	NOUN
gujaf-367	65	21	,	,	PUNCT
gujaf-367	65	22	while	while	SCONJ
gujaf-367	65	23	employment	employment	NOUN
gujaf-367	65	24	figures	figure	NOUN
gujaf-367	65	25	were	be	AUX
gujaf-367	65	26	obtained	obtain	VERB
gujaf-367	65	27	from	from	ADP
gujaf-367	65	28	the	the	DET
gujaf-367	65	29	penn	penn	PROPN
gujaf-367	65	30	world	world	PROPN
gujaf-367	65	31	table	table	PROPN
gujaf-367	65	32	version	version	NOUN
gujaf-367	65	33	9.1	9.1	NUM
gujaf-367	65	34	(	(	PUNCT
gujaf-367	65	35	2019	2019	NUM
gujaf-367	65	36	)	)	PUNCT
gujaf-367	65	37	.	.	PUNCT
gujaf-367	66	1	this	this	DET
gujaf-367	66	2	panel	panel	NOUN
gujaf-367	66	3	structure	structure	NOUN
gujaf-367	66	4	allows	allow	VERB
gujaf-367	66	5	the	the	DET
gujaf-367	66	6	study	study	NOUN
gujaf-367	66	7	to	to	PART
gujaf-367	66	8	account	account	VERB
gujaf-367	66	9	for	for	ADP
gujaf-367	66	10	both	both	PRON
gujaf-367	66	11	country	country	NOUN
gujaf-367	66	12	-	-	PUNCT
gujaf-367	66	13	specific	specific	ADJ
gujaf-367	66	14	heterogeneity	heterogeneity	NOUN
gujaf-367	66	15	and	and	CCONJ
gujaf-367	66	16	temporal	temporal	ADJ
gujaf-367	66	17	variations	variation	NOUN
gujaf-367	66	18	,	,	PUNCT
gujaf-367	66	19	making	make	VERB
gujaf-367	66	20	it	it	PRON
gujaf-367	66	21	well	well	ADV
gujaf-367	66	22	-	-	PUNCT
gujaf-367	66	23	suited	suited	ADJ
gujaf-367	66	24	to	to	PART
gujaf-367	66	25	analyze	analyze	VERB
gujaf-367	66	26	the	the	DET
gujaf-367	66	27	dynamic	dynamic	ADJ
gujaf-367	66	28	and	and	CCONJ
gujaf-367	66	29	long	long	ADJ
gujaf-367	66	30	-	-	PUNCT
gujaf-367	66	31	term	term	NOUN
gujaf-367	66	32	effects	effect	NOUN
gujaf-367	66	33	of	of	ADP
gujaf-367	66	34	external	external	ADJ
gujaf-367	66	35	debt	debt	NOUN
gujaf-367	66	36	and	and	CCONJ
gujaf-367	66	37	debt	debt	NOUN
gujaf-367	66	38	servicing	servicing	NOUN
gujaf-367	66	39	on	on	ADP
gujaf-367	66	40	economic	economic	ADJ
gujaf-367	66	41	growth	growth	NOUN
gujaf-367	66	42	in	in	ADP
gujaf-367	66	43	the	the	DET
gujaf-367	66	44	ecowas	ecowas	PROPN
gujaf-367	66	45	sub	sub	NOUN
gujaf-367	66	46	-	-	NOUN
gujaf-367	66	47	region	region	NOUN
gujaf-367	66	48	.	.	PUNCT
gujaf-367	67	1	to	to	PART
gujaf-367	67	2	demonstrate	demonstrate	VERB
gujaf-367	67	3	the	the	DET
gujaf-367	67	4	relation	relation	NOUN
gujaf-367	67	5	we	we	PRON
gujaf-367	67	6	apply	apply	VERB
gujaf-367	67	7	equations	equation	NOUN
gujaf-367	67	8	(	(	PUNCT
gujaf-367	67	9	1	1	NUM
gujaf-367	67	10	)	)	PUNCT
gujaf-367	67	11	and	and	CCONJ
gujaf-367	67	12	(	(	PUNCT
gujaf-367	67	13	2	2	NUM
gujaf-367	67	14	)	)	PUNCT
gujaf-367	67	15	.	.	PUNCT
gujaf-367	68	1	equation	equation	NOUN
gujaf-367	68	2	(	(	PUNCT
gujaf-367	68	3	1	1	X
gujaf-367	68	4	)	)	PUNCT
gujaf-367	68	5	represents	represent	VERB
gujaf-367	68	6	the	the	DET
gujaf-367	68	7	baseline	baseline	ADJ
gujaf-367	68	8	dynamic	dynamic	ADJ
gujaf-367	68	9	panel	panel	NOUN
gujaf-367	68	10	model	model	NOUN
gujaf-367	68	11	used	use	VERB
gujaf-367	68	12	to	to	PART
gujaf-367	68	13	assess	assess	VERB
gujaf-367	68	14	the	the	DET
gujaf-367	68	15	impact	impact	NOUN
gujaf-367	68	16	of	of	ADP
gujaf-367	68	17	external	external	ADJ
gujaf-367	68	18	debt	debt	NOUN
gujaf-367	68	19	and	and	CCONJ
gujaf-367	68	20	external	external	ADJ
gujaf-367	68	21	debt	debt	NOUN
gujaf-367	68	22	servicing	servicing	NOUN
gujaf-367	68	23	on	on	ADP
gujaf-367	68	24	economic	economic	ADJ
gujaf-367	68	25	growth	growth	NOUN
gujaf-367	68	26	within	within	ADP
gujaf-367	68	27	ecowas	ecowas	PROPN
gujaf-367	68	28	countries	country	NOUN
gujaf-367	68	29	.	.	PUNCT
gujaf-367	69	1	the	the	DET
gujaf-367	69	2	model	model	NOUN
gujaf-367	69	3	includes	include	VERB
gujaf-367	69	4	the	the	DET
gujaf-367	69	5	lagged	lag	VERB
gujaf-367	69	6	gdp	gdp	NOUN
gujaf-367	69	7	growth	growth	NOUN
gujaf-367	69	8	rate	rate	NOUN
gujaf-367	69	9	(	(	PUNCT
gujaf-367	69	10	gdpg	gdpg	PROPN
gujaf-367	69	11	)	)	PUNCT
gujaf-367	69	12	to	to	PART
gujaf-367	69	13	account	account	VERB
gujaf-367	69	14	for	for	ADP
gujaf-367	69	15	persistence	persistence	NOUN
gujaf-367	69	16	in	in	ADP
gujaf-367	69	17	economic	economic	ADJ
gujaf-367	69	18	performance	performance	NOUN
gujaf-367	69	19	,	,	PUNCT
gujaf-367	69	20	a	a	DET
gujaf-367	69	21	common	common	ADJ
gujaf-367	69	22	feature	feature	NOUN
gujaf-367	69	23	in	in	ADP
gujaf-367	69	24	growth	growth	NOUN
gujaf-367	69	25	regressions	regression	NOUN
gujaf-367	69	26	(	(	PUNCT
gujaf-367	69	27	barro	barro	PROPN
gujaf-367	69	28	&	&	CCONJ
gujaf-367	69	29	sala	sala	PROPN
gujaf-367	69	30	-	-	PUNCT
gujaf-367	69	31	i	i	PROPN
gujaf-367	69	32	-	-	PUNCT
gujaf-367	69	33	martin	martin	PROPN
gujaf-367	69	34	,	,	PUNCT
gujaf-367	69	35	2004	2004	NUM
gujaf-367	69	36	)	)	PUNCT
gujaf-367	69	37	.	.	PUNCT
gujaf-367	70	1	the	the	DET
gujaf-367	70	2	inclusion	inclusion	NOUN
gujaf-367	70	3	of	of	ADP
gujaf-367	70	4	external	external	ADJ
gujaf-367	70	5	debt	debt	NOUN
gujaf-367	70	6	(	(	PUNCT
gujaf-367	70	7	exdb	exdb	VERB
gujaf-367	70	8	)	)	PUNCT
gujaf-367	70	9	and	and	CCONJ
gujaf-367	70	10	external	external	ADJ
gujaf-367	70	11	debt	debt	NOUN
gujaf-367	70	12	service	service	NOUN
gujaf-367	70	13	(	(	PUNCT
gujaf-367	70	14	exds	exds	NOUN
gujaf-367	70	15	)	)	PUNCT
gujaf-367	70	16	helps	help	VERB
gujaf-367	70	17	capture	capture	VERB
gujaf-367	70	18	the	the	DET
gujaf-367	70	19	distinct	distinct	ADJ
gujaf-367	70	20	effects	effect	NOUN
gujaf-367	70	21	of	of	ADP
gujaf-367	70	22	debt	debt	NOUN
gujaf-367	70	23	accumulation	accumulation	NOUN
gujaf-367	70	24	and	and	CCONJ
gujaf-367	70	25	repayment	repayment	NOUN
gujaf-367	70	26	obligations	obligation	NOUN
gujaf-367	70	27	,	,	PUNCT
gujaf-367	70	28	respectively	respectively	ADV
gujaf-367	70	29	,	,	PUNCT
gujaf-367	70	30	on	on	ADP
gujaf-367	70	31	growth	growth	NOUN
gujaf-367	70	32	.	.	PUNCT
gujaf-367	71	1	additionally	additionally	ADV
gujaf-367	71	2	,	,	PUNCT
gujaf-367	71	3	employment	employment	NOUN
gujaf-367	71	4	(	(	PUNCT
gujaf-367	71	5	empl	empl	PROPN
gujaf-367	71	6	)	)	PUNCT
gujaf-367	71	7	,	,	PUNCT
gujaf-367	71	8	gross	gross	ADJ
gujaf-367	71	9	fixed	fix	VERB
gujaf-367	71	10	capital	capital	NOUN
gujaf-367	71	11	formation	formation	NOUN
gujaf-367	71	12	to	to	ADP
gujaf-367	71	13	gdp	gdp	NOUN
gujaf-367	71	14	ratio	ratio	NOUN
gujaf-367	71	15	(	(	PUNCT
gujaf-367	71	16	gfcg	gfcg	NOUN
gujaf-367	71	17	)	)	PUNCT
gujaf-367	71	18	,	,	PUNCT
gujaf-367	71	19	and	and	CCONJ
gujaf-367	71	20	foreign	foreign	ADJ
gujaf-367	71	21	direct	direct	ADJ
gujaf-367	71	22	investment	investment	NOUN
gujaf-367	71	23	to	to	ADP
gujaf-367	71	24	gdp	gdp	NOUN
gujaf-367	71	25	ratio	ratio	NOUN
gujaf-367	71	26	(	(	PUNCT
gujaf-367	71	27	fdig	fdig	PROPN
gujaf-367	71	28	)	)	PUNCT
gujaf-367	71	29	are	be	AUX
gujaf-367	71	30	included	include	VERB
gujaf-367	71	31	as	as	ADP
gujaf-367	71	32	key	key	ADJ
gujaf-367	71	33	control	control	NOUN
gujaf-367	71	34	variables	variable	NOUN
gujaf-367	71	35	often	often	ADV
gujaf-367	71	36	linked	link	VERB
gujaf-367	71	37	to	to	ADP
gujaf-367	71	38	capital	capital	NOUN
gujaf-367	71	39	deepening	deepening	NOUN
gujaf-367	71	40	,	,	PUNCT
gujaf-367	71	41	labor	labor	NOUN
gujaf-367	71	42	productivity	productivity	NOUN
gujaf-367	71	43	,	,	PUNCT
gujaf-367	71	44	and	and	CCONJ
gujaf-367	71	45	external	external	ADJ
gujaf-367	71	46	investment	investment	NOUN
gujaf-367	71	47	flows	flow	NOUN
gujaf-367	71	48	,	,	PUNCT
gujaf-367	71	49	which	which	PRON
gujaf-367	71	50	are	be	AUX
gujaf-367	71	51	significant	significant	ADJ
gujaf-367	71	52	drivers	driver	NOUN
gujaf-367	71	53	of	of	ADP
gujaf-367	71	54	economic	economic	ADJ
gujaf-367	71	55	performance	performance	NOUN
gujaf-367	71	56	(	(	PUNCT
gujaf-367	71	57	levine	levine	PROPN
gujaf-367	71	58	&	&	CCONJ
gujaf-367	71	59	renelt	renelt	PROPN
gujaf-367	71	60	,	,	PUNCT
gujaf-367	71	61	gusau	gusau	ADJ
gujaf-367	71	62	journal	journal	NOUN
gujaf-367	71	63	of	of	ADP
gujaf-367	71	64	accounting	accounting	NOUN
gujaf-367	71	65	and	and	CCONJ
gujaf-367	71	66	finance	finance	NOUN
gujaf-367	71	67	,	,	PUNCT
gujaf-367	71	68	vol.6	vol.6	PROPN
gujaf-367	71	69	,	,	PUNCT
gujaf-367	71	70	issue	issue	NOUN
gujaf-367	71	71	1	1	NUM
gujaf-367	71	72	,	,	PUNCT
gujaf-367	71	73	april	april	PROPN
gujaf-367	71	74	,	,	PUNCT
gujaf-367	71	75	2025	2025	NUM
gujaf-367	71	76	54	54	NUM
gujaf-367	71	77	1992	1992	NUM
gujaf-367	71	78	;	;	PUNCT
gujaf-367	71	79	solow	solow	PROPN
gujaf-367	71	80	,	,	PUNCT
gujaf-367	71	81	1956	1956	NUM
gujaf-367	71	82	)	)	PUNCT
gujaf-367	71	83	.	.	PUNCT
gujaf-367	72	1	this	this	DET
gujaf-367	72	2	specification	specification	NOUN
gujaf-367	72	3	allows	allow	VERB
gujaf-367	72	4	the	the	DET
gujaf-367	72	5	study	study	NOUN
gujaf-367	72	6	to	to	PART
gujaf-367	72	7	isolate	isolate	VERB
gujaf-367	72	8	the	the	DET
gujaf-367	72	9	separate	separate	ADJ
gujaf-367	72	10	effects	effect	NOUN
gujaf-367	72	11	of	of	ADP
gujaf-367	72	12	debt	debt	NOUN
gujaf-367	72	13	volume	volume	NOUN
gujaf-367	72	14	and	and	CCONJ
gujaf-367	72	15	servicing	servicing	NOUN
gujaf-367	72	16	costs	cost	NOUN
gujaf-367	72	17	on	on	ADP
gujaf-367	72	18	economic	economic	ADJ
gujaf-367	72	19	growth	growth	NOUN
gujaf-367	72	20	while	while	SCONJ
gujaf-367	72	21	controlling	control	VERB
gujaf-367	72	22	for	for	ADP
gujaf-367	72	23	structural	structural	ADJ
gujaf-367	72	24	and	and	CCONJ
gujaf-367	72	25	policyrelated	policyrelate	VERB
gujaf-367	72	26	growth	growth	NOUN
gujaf-367	72	27	drivers	driver	NOUN
gujaf-367	72	28	.	.	PUNCT
gujaf-367	73	1	equation	equation	NOUN
gujaf-367	73	2	1	1	NUM
gujaf-367	73	3	(	(	PUNCT
gujaf-367	73	4	baseline	baseline	NOUN
gujaf-367	73	5	)	)	PUNCT
gujaf-367	73	6	gdpg	gdpg	NOUN
gujaf-367	73	7	=	=	PUNCT
gujaf-367	73	8	𝛽	𝛽	PROPN
gujaf-367	73	9	+	+	X
gujaf-367	73	10	𝛽	𝛽	NOUN
gujaf-367	73	11	 	 	SPACE
gujaf-367	73	12	gdpl	gdpl	NOUN
gujaf-367	73	13	−	−	PROPN
gujaf-367	73	14	𝛽	𝛽	NOUN
gujaf-367	73	15	 	 	SPACE
gujaf-367	73	16	exdb	exdb	VERB
gujaf-367	73	17	+	+	CCONJ
gujaf-367	73	18	𝛽	𝛽	NOUN
gujaf-367	73	19	 	 	SPACE
gujaf-367	73	20	exds	exds	NOUN
gujaf-367	73	21	+	+	CCONJ
gujaf-367	73	22	𝛽	𝛽	NOUN
gujaf-367	73	23	 	 	SPACE
gujaf-367	73	24	empl	empl	NOUN
gujaf-367	74	1	+	+	CCONJ
gujaf-367	74	2	𝛽	𝛽	PROPN
gujaf-367	74	3	 	 	SPACE
gujaf-367	74	4	gfcg	gfcg	PROPN
gujaf-367	74	5	+	+	CCONJ
gujaf-367	74	6	𝛼	𝛼	NOUN
gujaf-367	74	7	+	+	NOUN
gujaf-367	74	8	𝜀	𝜀	NOUN
gujaf-367	74	9	equation	equation	NOUN
gujaf-367	74	10	3	3	NUM
gujaf-367	74	11	(	(	PUNCT
gujaf-367	74	12	with	with	ADP
gujaf-367	74	13	interaction	interaction	NOUN
gujaf-367	74	14	)	)	PUNCT
gujaf-367	74	15	gdpg	gdpg	NOUN
gujaf-367	74	16	=	=	PUNCT
gujaf-367	74	17	𝛽	𝛽	PROPN
gujaf-367	74	18	+	+	NOUN
gujaf-367	74	19	𝛽	𝛽	NOUN
gujaf-367	74	20	 	 	SPACE
gujaf-367	74	21	gdpl	gdpl	NOUN
gujaf-367	74	22	+	+	CCONJ
gujaf-367	74	23	𝛽	𝛽	NOUN
gujaf-367	74	24	 	 	SPACE
gujaf-367	74	25	(	(	PUNCT
gujaf-367	74	26	exdb	exdb	VERB
gujaf-367	74	27	×	×	PROPN
gujaf-367	74	28	exds	exds	NOUN
gujaf-367	74	29	)	)	PUNCT
gujaf-367	75	1	+	+	PUNCT
gujaf-367	75	2	𝛽	𝛽	NOUN
gujaf-367	75	3	 	 	SPACE
gujaf-367	75	4	empl	empl	NOUN
gujaf-367	75	5	+	+	CCONJ
gujaf-367	75	6	𝛽	𝛽	PROPN
gujaf-367	75	7	 	 	SPACE
gujaf-367	75	8	gfcg	gfcg	PROPN
gujaf-367	76	1	+	+	CCONJ
gujaf-367	76	2	𝛼	𝛼	NOUN
gujaf-367	76	3	+	+	NOUN
gujaf-367	76	4	𝜀	𝜀	NOUN
gujaf-367	76	5	equation	equation	NOUN
gujaf-367	76	6	(	(	PUNCT
gujaf-367	76	7	2	2	X
gujaf-367	76	8	)	)	PUNCT
gujaf-367	76	9	extends	extend	VERB
gujaf-367	76	10	the	the	DET
gujaf-367	76	11	baseline	baseline	NOUN
gujaf-367	76	12	model	model	NOUN
gujaf-367	76	13	by	by	ADP
gujaf-367	76	14	introducing	introduce	VERB
gujaf-367	76	15	an	an	DET
gujaf-367	76	16	interaction	interaction	NOUN
gujaf-367	76	17	term	term	NOUN
gujaf-367	76	18	between	between	ADP
gujaf-367	76	19	external	external	ADJ
gujaf-367	76	20	debt	debt	NOUN
gujaf-367	76	21	and	and	CCONJ
gujaf-367	76	22	external	external	ADJ
gujaf-367	76	23	debt	debt	NOUN
gujaf-367	76	24	service	service	NOUN
gujaf-367	76	25	(	(	PUNCT
gujaf-367	76	26	exdb*exds	exdb*exds	NOUN
gujaf-367	76	27	)	)	PUNCT
gujaf-367	76	28	to	to	PART
gujaf-367	76	29	investigate	investigate	VERB
gujaf-367	76	30	their	their	PRON
gujaf-367	76	31	combined	combined	ADJ
gujaf-367	76	32	or	or	CCONJ
gujaf-367	76	33	conditional	conditional	ADJ
gujaf-367	76	34	impact	impact	NOUN
gujaf-367	76	35	on	on	ADP
gujaf-367	76	36	gdp	gdp	NOUN
gujaf-367	76	37	growth	growth	NOUN
gujaf-367	76	38	.	.	PUNCT
gujaf-367	77	1	this	this	DET
gujaf-367	77	2	approach	approach	NOUN
gujaf-367	77	3	acknowledges	acknowledge	VERB
gujaf-367	77	4	that	that	SCONJ
gujaf-367	77	5	the	the	DET
gujaf-367	77	6	effects	effect	NOUN
gujaf-367	77	7	of	of	ADP
gujaf-367	77	8	external	external	ADJ
gujaf-367	77	9	debt	debt	NOUN
gujaf-367	77	10	on	on	ADP
gujaf-367	77	11	economic	economic	ADJ
gujaf-367	77	12	growth	growth	NOUN
gujaf-367	77	13	may	may	AUX
gujaf-367	77	14	be	be	AUX
gujaf-367	77	15	contingent	contingent	ADJ
gujaf-367	77	16	on	on	ADP
gujaf-367	77	17	the	the	DET
gujaf-367	77	18	level	level	NOUN
gujaf-367	77	19	of	of	ADP
gujaf-367	77	20	debt	debt	NOUN
gujaf-367	77	21	servicing	servicing	NOUN
gujaf-367	77	22	obligations	obligation	NOUN
gujaf-367	77	23	,	,	PUNCT
gujaf-367	77	24	consistent	consistent	ADJ
gujaf-367	77	25	with	with	ADP
gujaf-367	77	26	findings	finding	NOUN
gujaf-367	77	27	from	from	ADP
gujaf-367	77	28	pattillo	pattillo	NOUN
gujaf-367	77	29	,	,	PUNCT
gujaf-367	77	30	poirson	poirson	NOUN
gujaf-367	77	31	,	,	PUNCT
gujaf-367	77	32	and	and	CCONJ
gujaf-367	77	33	ricci	ricci	PROPN
gujaf-367	77	34	(	(	PUNCT
gujaf-367	77	35	2004	2004	NUM
gujaf-367	77	36	)	)	PUNCT
gujaf-367	77	37	,	,	PUNCT
gujaf-367	77	38	who	who	PRON
gujaf-367	77	39	noted	note	VERB
gujaf-367	77	40	that	that	SCONJ
gujaf-367	77	41	the	the	DET
gujaf-367	77	42	debt	debt	NOUN
gujaf-367	77	43	-	-	PUNCT
gujaf-367	77	44	growth	growth	NOUN
gujaf-367	77	45	relationship	relationship	NOUN
gujaf-367	77	46	may	may	AUX
gujaf-367	77	47	be	be	AUX
gujaf-367	77	48	nonlinear	nonlinear	ADJ
gujaf-367	77	49	or	or	CCONJ
gujaf-367	77	50	threshold	threshold	NOUN
gujaf-367	77	51	-	-	PUNCT
gujaf-367	77	52	dependent	dependent	ADJ
gujaf-367	77	53	.	.	PUNCT
gujaf-367	78	1	by	by	ADP
gujaf-367	78	2	including	include	VERB
gujaf-367	78	3	this	this	DET
gujaf-367	78	4	interaction	interaction	NOUN
gujaf-367	78	5	term	term	NOUN
gujaf-367	78	6	,	,	PUNCT
gujaf-367	78	7	the	the	DET
gujaf-367	78	8	model	model	NOUN
gujaf-367	78	9	captures	capture	VERB
gujaf-367	78	10	the	the	DET
gujaf-367	78	11	synergistic	synergistic	ADJ
gujaf-367	78	12	or	or	CCONJ
gujaf-367	78	13	compounding	compounding	NOUN
gujaf-367	78	14	burden	burden	NOUN
gujaf-367	78	15	that	that	PRON
gujaf-367	78	16	high	high	ADJ
gujaf-367	78	17	debt	debt	NOUN
gujaf-367	78	18	coupled	couple	VERB
gujaf-367	78	19	with	with	ADP
gujaf-367	78	20	high	high	ADJ
gujaf-367	78	21	servicing	servicing	NOUN
gujaf-367	78	22	costs	cost	NOUN
gujaf-367	78	23	could	could	AUX
gujaf-367	78	24	exert	exert	VERB
gujaf-367	78	25	on	on	ADP
gujaf-367	78	26	a	a	DET
gujaf-367	78	27	country	country	NOUN
gujaf-367	78	28	's	's	PART
gujaf-367	78	29	fiscal	fiscal	ADJ
gujaf-367	78	30	space	space	NOUN
gujaf-367	78	31	and	and	CCONJ
gujaf-367	78	32	investment	investment	NOUN
gujaf-367	78	33	potential	potential	NOUN
gujaf-367	78	34	.	.	PUNCT
gujaf-367	79	1	the	the	DET
gujaf-367	79	2	inclusion	inclusion	NOUN
gujaf-367	79	3	of	of	ADP
gujaf-367	79	4	the	the	DET
gujaf-367	79	5	same	same	ADJ
gujaf-367	79	6	control	control	NOUN
gujaf-367	79	7	variables	variable	NOUN
gujaf-367	79	8	(	(	PUNCT
gujaf-367	79	9	gdpg	gdpg	PROPN
gujaf-367	79	10	,	,	PUNCT
gujaf-367	79	11	empl	empl	PROPN
gujaf-367	79	12	,	,	PUNCT
gujaf-367	79	13	gfcg	gfcg	NOUN
gujaf-367	79	14	,	,	PUNCT
gujaf-367	79	15	and	and	CCONJ
gujaf-367	79	16	fdig	fdig	PROPN
gujaf-367	79	17	)	)	PUNCT
gujaf-367	79	18	ensures	ensure	VERB
gujaf-367	79	19	comparability	comparability	NOUN
gujaf-367	79	20	with	with	ADP
gujaf-367	79	21	the	the	DET
gujaf-367	79	22	baseline	baseline	NOUN
gujaf-367	79	23	model	model	NOUN
gujaf-367	79	24	while	while	SCONJ
gujaf-367	79	25	testing	test	VERB
gujaf-367	79	26	for	for	ADP
gujaf-367	79	27	nuanced	nuanced	ADJ
gujaf-367	79	28	dynamics	dynamic	NOUN
gujaf-367	79	29	in	in	ADP
gujaf-367	79	30	debt	debt	NOUN
gujaf-367	79	31	-	-	PUNCT
gujaf-367	79	32	growth	growth	NOUN
gujaf-367	79	33	interactions	interaction	NOUN
gujaf-367	79	34	(	(	PUNCT
gujaf-367	79	35	clements	clements	PROPN
gujaf-367	79	36	,	,	PUNCT
gujaf-367	79	37	bhattacharya	bhattacharya	PROPN
gujaf-367	79	38	,	,	PUNCT
gujaf-367	79	39	&	&	CCONJ
gujaf-367	79	40	nguyen	nguyen	PROPN
gujaf-367	79	41	,	,	PUNCT
gujaf-367	79	42	2003	2003	NUM
gujaf-367	79	43	)	)	PUNCT
gujaf-367	79	44	.	.	PUNCT
gujaf-367	80	1	this	this	DET
gujaf-367	80	2	model	model	NOUN
gujaf-367	80	3	is	be	AUX
gujaf-367	80	4	particularly	particularly	ADV
gujaf-367	80	5	relevant	relevant	ADJ
gujaf-367	80	6	for	for	ADP
gujaf-367	80	7	policy	policy	NOUN
gujaf-367	80	8	discussions	discussion	NOUN
gujaf-367	80	9	in	in	ADP
gujaf-367	80	10	debt	debt	NOUN
gujaf-367	80	11	-	-	PUNCT
gujaf-367	80	12	dependent	dependent	ADJ
gujaf-367	80	13	economies	economy	NOUN
gujaf-367	80	14	where	where	SCONJ
gujaf-367	80	15	servicing	servicing	NOUN
gujaf-367	80	16	costs	cost	NOUN
gujaf-367	80	17	may	may	AUX
gujaf-367	80	18	erode	erode	VERB
gujaf-367	80	19	the	the	DET
gujaf-367	80	20	growth	growth	NOUN
gujaf-367	80	21	-	-	PUNCT
gujaf-367	80	22	enhancing	enhance	VERB
gujaf-367	80	23	potential	potential	NOUN
gujaf-367	80	24	of	of	ADP
gujaf-367	80	25	borrowed	borrow	VERB
gujaf-367	80	26	funds	fund	NOUN
gujaf-367	80	27	.	.	PUNCT
gujaf-367	81	1	4.0	4.0	NUM
gujaf-367	81	2	results	result	NOUN
gujaf-367	81	3	table	table	NOUN
gujaf-367	81	4	1	1	NUM
gujaf-367	81	5	presents	present	VERB
gujaf-367	81	6	the	the	DET
gujaf-367	81	7	descriptive	descriptive	ADJ
gujaf-367	81	8	statistics	statistic	NOUN
gujaf-367	81	9	for	for	ADP
gujaf-367	81	10	the	the	DET
gujaf-367	81	11	variables	variable	NOUN
gujaf-367	81	12	included	include	VERB
gujaf-367	81	13	in	in	ADP
gujaf-367	81	14	the	the	DET
gujaf-367	81	15	analysis	analysis	NOUN
gujaf-367	81	16	,	,	PUNCT
gujaf-367	81	17	showing	show	VERB
gujaf-367	81	18	the	the	DET
gujaf-367	81	19	mean	mean	ADJ
gujaf-367	81	20	,	,	PUNCT
gujaf-367	81	21	maximum	maximum	ADJ
gujaf-367	81	22	,	,	PUNCT
gujaf-367	81	23	minimum	minimum	ADJ
gujaf-367	81	24	,	,	PUNCT
gujaf-367	81	25	standard	standard	ADJ
gujaf-367	81	26	deviation	deviation	NOUN
gujaf-367	81	27	,	,	PUNCT
gujaf-367	81	28	skewness	skewness	NOUN
gujaf-367	81	29	,	,	PUNCT
gujaf-367	81	30	kurtosis	kurtosis	NOUN
gujaf-367	81	31	,	,	PUNCT
gujaf-367	81	32	jarque	jarque	NOUN
gujaf-367	81	33	-	-	PUNCT
gujaf-367	81	34	bera	bera	NOUN
gujaf-367	81	35	(	(	PUNCT
gujaf-367	81	36	j	j	PROPN
gujaf-367	81	37	-	-	PUNCT
gujaf-367	81	38	b	b	NOUN
gujaf-367	81	39	)	)	PUNCT
gujaf-367	81	40	test	test	NOUN
gujaf-367	81	41	statistic	statistic	NOUN
gujaf-367	81	42	,	,	PUNCT
gujaf-367	81	43	and	and	CCONJ
gujaf-367	81	44	the	the	DET
gujaf-367	81	45	number	number	NOUN
gujaf-367	81	46	of	of	ADP
gujaf-367	81	47	observations	observation	NOUN
gujaf-367	81	48	(	(	PUNCT
gujaf-367	81	49	obs	obs	PROPN
gujaf-367	81	50	)	)	PUNCT
gujaf-367	81	51	.	.	PUNCT
gujaf-367	82	1	the	the	DET
gujaf-367	82	2	variable	variable	ADJ
gujaf-367	82	3	gdpg	gdpg	NOUN
gujaf-367	82	4	(	(	PUNCT
gujaf-367	82	5	gross	gross	ADJ
gujaf-367	82	6	domestic	domestic	ADJ
gujaf-367	82	7	product	product	NOUN
gujaf-367	82	8	growth	growth	NOUN
gujaf-367	82	9	rate	rate	NOUN
gujaf-367	82	10	)	)	PUNCT
gujaf-367	82	11	has	have	VERB
gujaf-367	82	12	a	a	DET
gujaf-367	82	13	mean	mean	NOUN
gujaf-367	82	14	of	of	ADP
gujaf-367	82	15	4.770	4.770	NUM
gujaf-367	82	16	%	%	NOUN
gujaf-367	82	17	,	,	PUNCT
gujaf-367	82	18	with	with	ADP
gujaf-367	82	19	a	a	DET
gujaf-367	82	20	maximum	maximum	NOUN
gujaf-367	82	21	of	of	ADP
gujaf-367	82	22	20.710	20.710	NUM
gujaf-367	82	23	%	%	NOUN
gujaf-367	82	24	and	and	CCONJ
gujaf-367	82	25	a	a	DET
gujaf-367	82	26	minimum	minimum	NOUN
gujaf-367	82	27	of	of	ADP
gujaf-367	82	28	-20.590	-20.590	NOUN
gujaf-367	82	29	%	%	NOUN
gujaf-367	82	30	.	.	PUNCT
gujaf-367	83	1	this	this	DET
gujaf-367	83	2	substantial	substantial	ADJ
gujaf-367	83	3	variation	variation	NOUN
gujaf-367	83	4	in	in	ADP
gujaf-367	83	5	gdp	gdp	NOUN
gujaf-367	83	6	growth	growth	NOUN
gujaf-367	83	7	reflects	reflect	VERB
gujaf-367	83	8	the	the	DET
gujaf-367	83	9	economic	economic	ADJ
gujaf-367	83	10	instability	instability	NOUN
gujaf-367	83	11	observed	observe	VERB
gujaf-367	83	12	in	in	ADP
gujaf-367	83	13	the	the	DET
gujaf-367	83	14	countries	country	NOUN
gujaf-367	83	15	under	under	ADP
gujaf-367	83	16	study	study	NOUN
gujaf-367	83	17	.	.	PUNCT
gujaf-367	84	1	the	the	DET
gujaf-367	84	2	variable	variable	NOUN
gujaf-367	84	3	exhibits	exhibit	VERB
gujaf-367	84	4	a	a	DET
gujaf-367	84	5	negatively	negatively	ADV
gujaf-367	84	6	skewed	skewed	ADJ
gujaf-367	84	7	distribution	distribution	NOUN
gujaf-367	84	8	(	(	PUNCT
gujaf-367	84	9	-1.260	-1.260	PUNCT
gujaf-367	84	10	)	)	PUNCT
gujaf-367	84	11	and	and	CCONJ
gujaf-367	84	12	high	high	ADJ
gujaf-367	84	13	kurtosis	kurtosis	NOUN
gujaf-367	84	14	(	(	PUNCT
gujaf-367	84	15	14.830	14.830	NUM
gujaf-367	84	16	)	)	PUNCT
gujaf-367	84	17	,	,	PUNCT
gujaf-367	84	18	suggesting	suggest	VERB
gujaf-367	84	19	that	that	SCONJ
gujaf-367	84	20	the	the	DET
gujaf-367	84	21	data	data	NOUN
gujaf-367	84	22	is	be	AUX
gujaf-367	84	23	leptokurtic	leptokurtic	ADJ
gujaf-367	84	24	,	,	PUNCT
gujaf-367	84	25	with	with	ADP
gujaf-367	84	26	a	a	DET
gujaf-367	84	27	higher	high	ADJ
gujaf-367	84	28	probability	probability	NOUN
gujaf-367	84	29	of	of	ADP
gujaf-367	84	30	extreme	extreme	ADJ
gujaf-367	84	31	values	value	NOUN
gujaf-367	84	32	.	.	PUNCT
gujaf-367	85	1	similarly	similarly	ADV
gujaf-367	85	2	,	,	PUNCT
gujaf-367	85	3	exdb	exdb	PROPN
gujaf-367	85	4	(	(	PUNCT
gujaf-367	85	5	external	external	ADJ
gujaf-367	85	6	debt	debt	NOUN
gujaf-367	85	7	)	)	PUNCT
gujaf-367	85	8	has	have	VERB
gujaf-367	85	9	a	a	DET
gujaf-367	85	10	mean	mean	NOUN
gujaf-367	85	11	of	of	ADP
gujaf-367	85	12	approximately	approximately	ADV
gujaf-367	85	13	4.8	4.8	NUM
gujaf-367	85	14	billion	billion	NUM
gujaf-367	85	15	usd	usd	NOUN
gujaf-367	85	16	,	,	PUNCT
gujaf-367	85	17	with	with	ADP
gujaf-367	85	18	a	a	DET
gujaf-367	85	19	maximum	maximum	NOUN
gujaf-367	85	20	of	of	ADP
gujaf-367	85	21	47	47	NUM
gujaf-367	85	22	billion	billion	NUM
gujaf-367	85	23	usd	usd	NOUN
gujaf-367	85	24	and	and	CCONJ
gujaf-367	85	25	a	a	DET
gujaf-367	85	26	minimum	minimum	NOUN
gujaf-367	85	27	of	of	ADP
gujaf-367	85	28	271	271	NUM
gujaf-367	85	29	million	million	NUM
gujaf-367	85	30	usd	usd	NOUN
gujaf-367	85	31	.	.	PUNCT
gujaf-367	86	1	this	this	DET
gujaf-367	86	2	distribution	distribution	NOUN
gujaf-367	86	3	shows	show	VERB
gujaf-367	86	4	a	a	DET
gujaf-367	86	5	substantial	substantial	ADJ
gujaf-367	86	6	disparity	disparity	NOUN
gujaf-367	86	7	in	in	ADP
gujaf-367	86	8	external	external	ADJ
gujaf-367	86	9	debt	debt	NOUN
gujaf-367	86	10	levels	level	NOUN
gujaf-367	86	11	across	across	ADP
gujaf-367	86	12	countries	country	NOUN
gujaf-367	86	13	,	,	PUNCT
gujaf-367	86	14	and	and	CCONJ
gujaf-367	86	15	the	the	DET
gujaf-367	86	16	positive	positive	ADJ
gujaf-367	86	17	skewness	skewness	NOUN
gujaf-367	86	18	(	(	PUNCT
gujaf-367	86	19	2.870	2.870	NUM
gujaf-367	86	20	)	)	PUNCT
gujaf-367	86	21	indicates	indicate	VERB
gujaf-367	86	22	that	that	SCONJ
gujaf-367	86	23	most	most	ADJ
gujaf-367	86	24	countries	country	NOUN
gujaf-367	86	25	have	have	VERB
gujaf-367	86	26	lower	low	ADJ
gujaf-367	86	27	levels	level	NOUN
gujaf-367	86	28	of	of	ADP
gujaf-367	86	29	external	external	ADJ
gujaf-367	86	30	debt	debt	NOUN
gujaf-367	86	31	.	.	PUNCT
gujaf-367	87	1	the	the	DET
gujaf-367	87	2	exds	exds	NOUN
gujaf-367	87	3	(	(	PUNCT
gujaf-367	87	4	external	external	ADJ
gujaf-367	87	5	debt	debt	NOUN
gujaf-367	87	6	service	service	NOUN
gujaf-367	87	7	)	)	PUNCT
gujaf-367	87	8	variable	variable	NOUN
gujaf-367	87	9	has	have	VERB
gujaf-367	87	10	a	a	DET
gujaf-367	87	11	high	high	ADJ
gujaf-367	87	12	degree	degree	NOUN
gujaf-367	87	13	of	of	ADP
gujaf-367	87	14	variability	variability	NOUN
gujaf-367	87	15	,	,	PUNCT
gujaf-367	87	16	with	with	ADP
gujaf-367	87	17	a	a	DET
gujaf-367	87	18	mean	mean	NOUN
gujaf-367	87	19	of	of	ADP
gujaf-367	87	20	380	380	NUM
gujaf-367	87	21	million	million	NUM
gujaf-367	87	22	usd	usd	NOUN
gujaf-367	87	23	and	and	CCONJ
gujaf-367	87	24	a	a	DET
gujaf-367	87	25	maximum	maximum	ADJ
gujaf-367	87	26	value	value	NOUN
gujaf-367	87	27	of	of	ADP
gujaf-367	87	28	8.81	8.81	NUM
gujaf-367	87	29	billion	billion	NUM
gujaf-367	87	30	usd	usd	NOUN
gujaf-367	87	31	.	.	PUNCT
gujaf-367	88	1	empl	empl	PROPN
gujaf-367	88	2	(	(	PUNCT
gujaf-367	88	3	employment	employment	NOUN
gujaf-367	88	4	)	)	PUNCT
gujaf-367	88	5	and	and	CCONJ
gujaf-367	88	6	gfcg	gfcg	PROPN
gujaf-367	88	7	(	(	PUNCT
gujaf-367	88	8	gross	gross	ADJ
gujaf-367	88	9	fixed	fix	VERB
gujaf-367	88	10	capital	capital	NOUN
gujaf-367	88	11	formation	formation	NOUN
gujaf-367	88	12	as	as	ADP
gujaf-367	88	13	a	a	DET
gujaf-367	88	14	percentage	percentage	NOUN
gujaf-367	88	15	of	of	ADP
gujaf-367	88	16	gdp	gdp	NOUN
gujaf-367	88	17	)	)	PUNCT
gujaf-367	88	18	both	both	PRON
gujaf-367	88	19	demonstrate	demonstrate	VERB
gujaf-367	88	20	substantial	substantial	ADJ
gujaf-367	88	21	variation	variation	NOUN
gujaf-367	88	22	,	,	PUNCT
gujaf-367	88	23	with	with	ADP
gujaf-367	88	24	empl	empl	NOUN
gujaf-367	88	25	showing	show	VERB
gujaf-367	88	26	a	a	DET
gujaf-367	88	27	mean	mean	NOUN
gujaf-367	88	28	of	of	ADP
gujaf-367	88	29	7.430	7.430	NUM
gujaf-367	88	30	million	million	NUM
gujaf-367	88	31	and	and	CCONJ
gujaf-367	88	32	gfcg	gfcg	NOUN
gujaf-367	88	33	showing	show	VERB
gujaf-367	88	34	a	a	DET
gujaf-367	88	35	mean	mean	NOUN
gujaf-367	88	36	of	of	ADP
gujaf-367	88	37	21.370	21.370	NUM
gujaf-367	88	38	%	%	NOUN
gujaf-367	88	39	.	.	PUNCT
gujaf-367	89	1	the	the	DET
gujaf-367	89	2	jarque	jarque	NOUN
gujaf-367	89	3	-	-	PUNCT
gujaf-367	89	4	bera	bera	NOUN
gujaf-367	89	5	test	test	NOUN
gujaf-367	89	6	statistics	statistic	NOUN
gujaf-367	89	7	for	for	ADP
gujaf-367	89	8	most	most	ADJ
gujaf-367	89	9	variables	variable	NOUN
gujaf-367	89	10	suggest	suggest	VERB
gujaf-367	89	11	that	that	SCONJ
gujaf-367	89	12	the	the	DET
gujaf-367	89	13	data	datum	NOUN
gujaf-367	89	14	significantly	significantly	ADV
gujaf-367	89	15	deviate	deviate	VERB
gujaf-367	89	16	from	from	ADP
gujaf-367	89	17	normality	normality	NOUN
gujaf-367	89	18	,	,	PUNCT
gujaf-367	89	19	indicating	indicate	VERB
gujaf-367	89	20	the	the	DET
gujaf-367	89	21	need	need	NOUN
gujaf-367	89	22	for	for	ADP
gujaf-367	89	23	caution	caution	NOUN
gujaf-367	89	24	when	when	SCONJ
gujaf-367	89	25	applying	apply	VERB
gujaf-367	89	26	traditional	traditional	ADJ
gujaf-367	89	27	statistical	statistical	ADJ
gujaf-367	89	28	methods	method	NOUN
gujaf-367	89	29	that	that	PRON
gujaf-367	89	30	assume	assume	VERB
gujaf-367	89	31	normality	normality	NOUN
gujaf-367	89	32	.	.	PUNCT
gujaf-367	90	1	table	table	NOUN
gujaf-367	90	2	2	2	NUM
gujaf-367	90	3	displays	display	VERB
gujaf-367	90	4	the	the	DET
gujaf-367	90	5	correlation	correlation	NOUN
gujaf-367	90	6	matrix	matrix	NOUN
gujaf-367	90	7	,	,	PUNCT
gujaf-367	90	8	which	which	PRON
gujaf-367	90	9	reveals	reveal	VERB
gujaf-367	90	10	the	the	DET
gujaf-367	90	11	relationships	relationship	NOUN
gujaf-367	90	12	between	between	ADP
gujaf-367	90	13	the	the	DET
gujaf-367	90	14	explanatory	explanatory	ADJ
gujaf-367	90	15	variables	variable	NOUN
gujaf-367	90	16	in	in	ADP
gujaf-367	90	17	the	the	DET
gujaf-367	90	18	model	model	NOUN
gujaf-367	90	19	.	.	PUNCT
gujaf-367	91	1	the	the	DET
gujaf-367	91	2	correlation	correlation	NOUN
gujaf-367	91	3	between	between	ADP
gujaf-367	91	4	gdpg	gdpg	PROPN
gujaf-367	91	5	and	and	CCONJ
gujaf-367	91	6	exdb	exdb	PROPN
gujaf-367	91	7	is	be	AUX
gujaf-367	91	8	virtually	virtually	ADV
gujaf-367	91	9	negligible	negligible	ADJ
gujaf-367	91	10	(	(	PUNCT
gujaf-367	91	11	0.002	0.002	NUM
gujaf-367	91	12	)	)	PUNCT
gujaf-367	91	13	,	,	PUNCT
gujaf-367	91	14	indicating	indicate	VERB
gujaf-367	91	15	that	that	SCONJ
gujaf-367	91	16	there	there	PRON
gujaf-367	91	17	is	be	VERB
gujaf-367	91	18	no	no	DET
gujaf-367	91	19	linear	linear	ADJ
gujaf-367	91	20	relationship	relationship	NOUN
gujaf-367	91	21	between	between	ADP
gujaf-367	91	22	the	the	DET
gujaf-367	91	23	growth	growth	NOUN
gujaf-367	91	24	rate	rate	NOUN
gujaf-367	91	25	of	of	ADP
gujaf-367	91	26	gdp	gdp	NOUN
gujaf-367	91	27	and	and	CCONJ
gujaf-367	91	28	external	external	ADJ
gujaf-367	91	29	debt	debt	NOUN
gujaf-367	91	30	.	.	PUNCT
gujaf-367	92	1	however	however	ADV
gujaf-367	92	2	,	,	PUNCT
gujaf-367	92	3	there	there	PRON
gujaf-367	92	4	is	be	VERB
gujaf-367	92	5	a	a	DET
gujaf-367	92	6	moderate	moderate	ADJ
gujaf-367	92	7	correlation	correlation	NOUN
gujaf-367	92	8	between	between	ADP
gujaf-367	92	9	exdb	exdb	PROPN
gujaf-367	92	10	and	and	CCONJ
gujaf-367	92	11	exds	exds	ADJ
gujaf-367	92	12	(	(	PUNCT
gujaf-367	92	13	0.740	0.740	NUM
gujaf-367	92	14	)	)	PUNCT
gujaf-367	92	15	,	,	PUNCT
gujaf-367	92	16	implying	imply	VERB
gujaf-367	92	17	that	that	SCONJ
gujaf-367	92	18	higher	high	ADJ
gujaf-367	92	19	external	external	ADJ
gujaf-367	92	20	debt	debt	NOUN
gujaf-367	92	21	levels	level	NOUN
gujaf-367	92	22	are	be	AUX
gujaf-367	92	23	associated	associate	VERB
gujaf-367	92	24	with	with	ADP
gujaf-367	92	25	greater	great	ADJ
gujaf-367	92	26	external	external	ADJ
gujaf-367	92	27	debt	debt	NOUN
gujaf-367	92	28	service	service	NOUN
gujaf-367	92	29	requirements	requirement	NOUN
gujaf-367	92	30	.	.	PUNCT
gujaf-367	93	1	empl	empl	PROPN
gujaf-367	93	2	gusau	gusau	PROPN
gujaf-367	93	3	journal	journal	PROPN
gujaf-367	93	4	of	of	ADP
gujaf-367	93	5	accounting	accounting	NOUN
gujaf-367	93	6	and	and	CCONJ
gujaf-367	93	7	finance	finance	NOUN
gujaf-367	93	8	,	,	PUNCT
gujaf-367	93	9	vol.6	vol.6	PROPN
gujaf-367	93	10	,	,	PUNCT
gujaf-367	93	11	issue	issue	NOUN
gujaf-367	93	12	1	1	NUM
gujaf-367	93	13	,	,	PUNCT
gujaf-367	93	14	april	april	PROPN
gujaf-367	93	15	,	,	PUNCT
gujaf-367	93	16	2025	2025	NUM
gujaf-367	93	17	55	55	NUM
gujaf-367	93	18	(	(	PUNCT
gujaf-367	93	19	employment	employment	NOUN
gujaf-367	93	20	level	level	NOUN
gujaf-367	93	21	)	)	PUNCT
gujaf-367	93	22	and	and	CCONJ
gujaf-367	93	23	exdb	exdb	PROPN
gujaf-367	93	24	exhibit	exhibit	VERB
gujaf-367	93	25	a	a	DET
gujaf-367	93	26	strong	strong	ADJ
gujaf-367	93	27	positive	positive	ADJ
gujaf-367	93	28	correlation	correlation	NOUN
gujaf-367	93	29	(	(	PUNCT
gujaf-367	93	30	0.820	0.820	NOUN
gujaf-367	93	31	)	)	PUNCT
gujaf-367	93	32	,	,	PUNCT
gujaf-367	93	33	which	which	PRON
gujaf-367	93	34	suggests	suggest	VERB
gujaf-367	93	35	that	that	SCONJ
gujaf-367	93	36	countries	country	NOUN
gujaf-367	93	37	with	with	ADP
gujaf-367	93	38	higher	high	ADJ
gujaf-367	93	39	external	external	ADJ
gujaf-367	93	40	debt	debt	NOUN
gujaf-367	93	41	levels	level	NOUN
gujaf-367	93	42	tend	tend	VERB
gujaf-367	93	43	to	to	PART
gujaf-367	93	44	have	have	VERB
gujaf-367	93	45	higher	high	ADJ
gujaf-367	93	46	employment	employment	NOUN
gujaf-367	93	47	levels	level	NOUN
gujaf-367	93	48	.	.	PUNCT
gujaf-367	94	1	the	the	DET
gujaf-367	94	2	correlation	correlation	NOUN
gujaf-367	94	3	between	between	ADP
gujaf-367	94	4	gfcg	gfcg	PROPN
gujaf-367	94	5	(	(	PUNCT
gujaf-367	94	6	gross	gross	ADJ
gujaf-367	94	7	fixed	fix	VERB
gujaf-367	94	8	capital	capital	NOUN
gujaf-367	94	9	formation	formation	NOUN
gujaf-367	94	10	)	)	PUNCT
gujaf-367	94	11	and	and	CCONJ
gujaf-367	94	12	gdpg	gdpg	PROPN
gujaf-367	94	13	is	be	AUX
gujaf-367	94	14	also	also	ADV
gujaf-367	94	15	positive	positive	ADJ
gujaf-367	94	16	(	(	PUNCT
gujaf-367	94	17	0.164	0.164	NUM
gujaf-367	94	18	)	)	PUNCT
gujaf-367	94	19	,	,	PUNCT
gujaf-367	94	20	although	although	SCONJ
gujaf-367	94	21	relatively	relatively	ADV
gujaf-367	94	22	weak	weak	ADJ
gujaf-367	94	23	,	,	PUNCT
gujaf-367	94	24	indicating	indicate	VERB
gujaf-367	94	25	that	that	SCONJ
gujaf-367	94	26	increases	increase	NOUN
gujaf-367	94	27	in	in	ADP
gujaf-367	94	28	capital	capital	NOUN
gujaf-367	94	29	investment	investment	NOUN
gujaf-367	94	30	may	may	AUX
gujaf-367	94	31	slightly	slightly	ADV
gujaf-367	94	32	correlate	correlate	VERB
gujaf-367	94	33	with	with	ADP
gujaf-367	94	34	gdp	gdp	NOUN
gujaf-367	94	35	growth	growth	NOUN
gujaf-367	94	36	.	.	PUNCT
gujaf-367	95	1	fdi	fdi	PROPN
gujaf-367	95	2	/	/	SYM
gujaf-367	95	3	gdp	gdp	NOUN
gujaf-367	95	4	(	(	PUNCT
gujaf-367	95	5	foreign	foreign	ADJ
gujaf-367	95	6	direct	direct	ADJ
gujaf-367	95	7	investment	investment	NOUN
gujaf-367	95	8	as	as	ADP
gujaf-367	95	9	a	a	DET
gujaf-367	95	10	percentage	percentage	NOUN
gujaf-367	95	11	of	of	ADP
gujaf-367	95	12	gdp	gdp	NOUN
gujaf-367	95	13	)	)	PUNCT
gujaf-367	95	14	has	have	VERB
gujaf-367	95	15	weak	weak	ADJ
gujaf-367	95	16	correlations	correlation	NOUN
gujaf-367	95	17	with	with	ADP
gujaf-367	95	18	the	the	DET
gujaf-367	95	19	other	other	ADJ
gujaf-367	95	20	variables	variable	NOUN
gujaf-367	95	21	,	,	PUNCT
gujaf-367	95	22	indicating	indicate	VERB
gujaf-367	95	23	that	that	SCONJ
gujaf-367	95	24	fdi	fdi	PROPN
gujaf-367	95	25	's	's	PART
gujaf-367	95	26	impact	impact	NOUN
gujaf-367	95	27	on	on	ADP
gujaf-367	95	28	the	the	DET
gujaf-367	95	29	other	other	ADJ
gujaf-367	95	30	factors	factor	NOUN
gujaf-367	95	31	is	be	AUX
gujaf-367	95	32	less	less	ADV
gujaf-367	95	33	direct	direct	ADJ
gujaf-367	95	34	.	.	PUNCT
gujaf-367	96	1	table	table	NOUN
gujaf-367	96	2	1	1	NUM
gujaf-367	96	3	:	:	PUNCT
gujaf-367	96	4	descriptive	descriptive	ADJ
gujaf-367	96	5	statistics	statistic	NOUN
gujaf-367	96	6	variable	variable	ADJ
gujaf-367	96	7	mean	mean	PROPN
gujaf-367	97	1	max	max	PROPN
gujaf-367	97	2	min	min	PROPN
gujaf-367	97	3	std	std	PROPN
gujaf-367	97	4	.	.	PROPN
gujaf-367	97	5	dev	dev	PROPN
gujaf-367	97	6	.	.	PUNCT
gujaf-367	97	7	skew	skew	PROPN
gujaf-367	97	8	kurtosis	kurtosis	VERB
gujaf-367	97	9	j	j	PROPN
gujaf-367	97	10	-	-	PUNCT
gujaf-367	97	11	b	b	PROPN
gujaf-367	97	12	obs	obs	PROPN
gujaf-367	97	13	.	.	PUNCT
gujaf-367	98	1	gdpg	gdpg	VERB
gujaf-367	98	2	4.770	4.770	NUM
gujaf-367	98	3	20.710	20.710	NUM
gujaf-367	98	4	-20.590	-20.590	NUM
gujaf-367	98	5	3.690	3.690	NUM
gujaf-367	98	6	-1.260	-1.260	PUNCT
gujaf-367	98	7	14.830	14.830	NUM
gujaf-367	98	8	1281.780	1281.780	NUM
gujaf-367	98	9	210	210	NUM
gujaf-367	98	10	exdb	exdb	VERB
gujaf-367	98	11	4.800e9	4.800e9	NUM
gujaf-367	98	12	4.700e10	4.700e10	NOUN
gujaf-367	98	13	2.710e8	2.710e8	NUM
gujaf-367	98	14	7.050e9	7.050e9	NUM
gujaf-367	98	15	2.870	2.870	NUM
gujaf-367	98	16	13.000	13.000	NUM
gujaf-367	98	17	1165.980	1165.980	NUM
gujaf-367	98	18	210	210	NUM
gujaf-367	98	19	exds	exds	NOUN
gujaf-367	98	20	3.800e8	3.800e8	NUM
gujaf-367	98	21	8.810e9	8.810e9	NUM
gujaf-367	98	22	1.531e6	1.531e6	NUM
gujaf-367	99	1	1.010e9	1.010e9	NUM
gujaf-367	99	2	5.420	5.420	NUM
gujaf-367	99	3	37.440	37.440	NUM
gujaf-367	99	4	11409.200	11409.200	NUM
gujaf-367	99	5	210	210	NUM
gujaf-367	99	6	empl	empl	NOUN
gujaf-367	99	7	7.430	7.430	NUM
gujaf-367	99	8	67.050	67.050	NUM
gujaf-367	99	9	0.150	0.150	NUM
gujaf-367	99	10	13.060	13.060	NUM
gujaf-367	99	11	3.260	3.260	NUM
gujaf-367	99	12	12.730	12.730	NUM
gujaf-367	99	13	1202.780	1202.780	NUM
gujaf-367	99	14	210	210	NUM
gujaf-367	99	15	gfcg	gfcg	NOUN
gujaf-367	99	16	21.370	21.370	NUM
gujaf-367	99	17	52.410	52.410	NUM
gujaf-367	99	18	5.880	5.880	NUM
gujaf-367	99	19	8.590	8.590	NUM
gujaf-367	99	20	0.920	0.920	NUM
gujaf-367	99	21	3.870	3.870	NUM
gujaf-367	99	22	36.820	36.820	NUM
gujaf-367	99	23	210	210	NUM
gujaf-367	99	24	fdi	fdi	PROPN
gujaf-367	99	25	/	/	SYM
gujaf-367	99	26	gdp	gdp	NOUN
gujaf-367	99	27	5.790	5.790	NUM
gujaf-367	99	28	103.330	103.330	NUM
gujaf-367	99	29	-1.030	-1.030	NUM
gujaf-367	99	30	12.000	12.000	NUM
gujaf-367	99	31	6.060	6.060	NUM
gujaf-367	99	32	43.080	43.080	NUM
gujaf-367	99	33	15345.200	15345.200	NUM
gujaf-367	99	34	210	210	NUM
gujaf-367	99	35	source	source	NOUN
gujaf-367	99	36	:	:	PUNCT
gujaf-367	99	37	author	author	NOUN
gujaf-367	99	38	(	(	PUNCT
gujaf-367	99	39	2025	2025	NUM
gujaf-367	99	40	)	)	PUNCT
gujaf-367	99	41	table	table	NOUN
gujaf-367	99	42	2	2	NUM
gujaf-367	99	43	:	:	PUNCT
gujaf-367	99	44	correlation	correlation	NOUN
gujaf-367	99	45	matrix	matrix	NOUN
gujaf-367	99	46	variable	variable	NOUN
gujaf-367	99	47	gdpg	gdpg	PROPN
gujaf-367	99	48	exdb	exdb	VERB
gujaf-367	99	49	exds	exds	PROPN
gujaf-367	100	1	empl	empl	PROPN
gujaf-367	100	2	gfcg	gfcg	PROPN
gujaf-367	100	3	fdi	fdi	PROPN
gujaf-367	100	4	/	/	SYM
gujaf-367	100	5	gdp	gdp	NOUN
gujaf-367	100	6	gdpg	gdpg	PROPN
gujaf-367	100	7	1.000	1.000	NUM
gujaf-367	100	8	exdb	exdb	NOUN
gujaf-367	100	9	-0.002	-0.002	PUNCT
gujaf-367	100	10	1.000	1.000	NUM
gujaf-367	100	11	exds	exds	NOUN
gujaf-367	100	12	0.034	0.034	NUM
gujaf-367	100	13	0.740	0.740	NUM
gujaf-367	100	14	1.000	1.000	NUM
gujaf-367	100	15	empl	empl	NOUN
gujaf-367	100	16	0.032	0.032	NUM
gujaf-367	100	17	0.820	0.820	NUM
gujaf-367	100	18	0.676	0.676	NUM
gujaf-367	100	19	1.000	1.000	NUM
gujaf-367	100	20	gfcg	gfcg	PROPN
gujaf-367	100	21	0.164	0.164	NUM
gujaf-367	100	22	-0.154	-0.154	NOUN
gujaf-367	100	23	-0.060	-0.060	NOUN
gujaf-367	100	24	-0.095	-0.095	NOUN
gujaf-367	100	25	1.000	1.000	NUM
gujaf-367	100	26	fdi	fdi	PROPN
gujaf-367	100	27	/	/	SYM
gujaf-367	100	28	gdp	gdp	NOUN
gujaf-367	100	29	0.163	0.163	NUM
gujaf-367	100	30	-0.139	-0.139	PUNCT
gujaf-367	100	31	-0.095	-0.095	PUNCT
gujaf-367	100	32	-0.121	-0.121	NOUN
gujaf-367	100	33	0.131	0.131	NUM
gujaf-367	100	34	1.000	1.000	NUM
gujaf-367	100	35	source	source	NOUN
gujaf-367	100	36	:	:	PUNCT
gujaf-367	100	37	author	author	NOUN
gujaf-367	100	38	(	(	PUNCT
gujaf-367	100	39	2025	2025	NUM
gujaf-367	100	40	)	)	PUNCT
gujaf-367	100	41	.	.	PUNCT
gujaf-367	101	1	table	table	NOUN
gujaf-367	101	2	3	3	NUM
gujaf-367	101	3	presents	present	VERB
gujaf-367	101	4	the	the	DET
gujaf-367	101	5	results	result	NOUN
gujaf-367	101	6	of	of	ADP
gujaf-367	101	7	panel	panel	NOUN
gujaf-367	101	8	unit	unit	NOUN
gujaf-367	101	9	root	root	NOUN
gujaf-367	101	10	tests	test	NOUN
gujaf-367	101	11	,	,	PUNCT
gujaf-367	101	12	including	include	VERB
gujaf-367	101	13	the	the	DET
gujaf-367	101	14	levin	levin	PROPN
gujaf-367	101	15	-	-	PUNCT
gujaf-367	101	16	lin	lin	PROPN
gujaf-367	101	17	-	-	PUNCT
gujaf-367	101	18	chu	chu	PROPN
gujaf-367	101	19	(	(	PUNCT
gujaf-367	101	20	llc	llc	PROPN
gujaf-367	101	21	)	)	PUNCT
gujaf-367	101	22	,	,	PUNCT
gujaf-367	101	23	impesaran	impesaran	NOUN
gujaf-367	101	24	-	-	PUNCT
gujaf-367	101	25	shin	shin	NOUN
gujaf-367	101	26	(	(	PUNCT
gujaf-367	101	27	ips	ips	PROPN
gujaf-367	101	28	)	)	PUNCT
gujaf-367	101	29	,	,	PUNCT
gujaf-367	101	30	and	and	CCONJ
gujaf-367	101	31	fisher	fisher	PROPN
gujaf-367	101	32	adf	adf	PROPN
gujaf-367	101	33	and	and	CCONJ
gujaf-367	101	34	pp	pp	ADP
gujaf-367	101	35	tests	test	NOUN
gujaf-367	101	36	.	.	PUNCT
gujaf-367	102	1	the	the	DET
gujaf-367	102	2	results	result	NOUN
gujaf-367	102	3	indicate	indicate	VERB
gujaf-367	102	4	that	that	SCONJ
gujaf-367	102	5	all	all	DET
gujaf-367	102	6	variables	variable	NOUN
gujaf-367	102	7	gdpg	gdpg	ADJ
gujaf-367	102	8	,	,	PUNCT
gujaf-367	102	9	exdb	exdb	ADJ
gujaf-367	102	10	,	,	PUNCT
gujaf-367	102	11	exds	exds	NOUN
gujaf-367	102	12	,	,	PUNCT
gujaf-367	102	13	empl	empl	PROPN
gujaf-367	102	14	,	,	PUNCT
gujaf-367	102	15	gfcg	gfcg	NOUN
gujaf-367	102	16	,	,	PUNCT
gujaf-367	102	17	and	and	CCONJ
gujaf-367	102	18	fdi	fdi	PROPN
gujaf-367	102	19	/	/	SYM
gujaf-367	102	20	gdp	gdp	NOUN
gujaf-367	102	21	are	be	AUX
gujaf-367	102	22	stationary	stationary	ADJ
gujaf-367	102	23	at	at	ADP
gujaf-367	102	24	the	the	DET
gujaf-367	102	25	1	1	NUM
gujaf-367	102	26	%	%	NOUN
gujaf-367	102	27	significance	significance	NOUN
gujaf-367	102	28	level	level	NOUN
gujaf-367	102	29	,	,	PUNCT
gujaf-367	102	30	as	as	SCONJ
gujaf-367	102	31	evidenced	evidence	VERB
gujaf-367	102	32	by	by	ADP
gujaf-367	102	33	the	the	DET
gujaf-367	102	34	significant	significant	ADJ
gujaf-367	102	35	p	p	NOUN
gujaf-367	102	36	-	-	PUNCT
gujaf-367	102	37	values	value	NOUN
gujaf-367	102	38	across	across	ADP
gujaf-367	102	39	all	all	DET
gujaf-367	102	40	tests	test	NOUN
gujaf-367	102	41	.	.	PUNCT
gujaf-367	103	1	the	the	DET
gujaf-367	103	2	llc	llc	PROPN
gujaf-367	103	3	test	test	NOUN
gujaf-367	103	4	,	,	PUNCT
gujaf-367	103	5	which	which	PRON
gujaf-367	103	6	assumes	assume	VERB
gujaf-367	103	7	a	a	DET
gujaf-367	103	8	common	common	ADJ
gujaf-367	103	9	unit	unit	NOUN
gujaf-367	103	10	root	root	NOUN
gujaf-367	103	11	process	process	NOUN
gujaf-367	103	12	across	across	ADP
gujaf-367	103	13	panels	panel	NOUN
gujaf-367	103	14	,	,	PUNCT
gujaf-367	103	15	shows	show	VERB
gujaf-367	103	16	that	that	SCONJ
gujaf-367	103	17	the	the	DET
gujaf-367	103	18	null	null	ADJ
gujaf-367	103	19	hypothesis	hypothesis	NOUN
gujaf-367	103	20	of	of	ADP
gujaf-367	103	21	a	a	DET
gujaf-367	103	22	unit	unit	NOUN
gujaf-367	103	23	root	root	NOUN
gujaf-367	103	24	is	be	AUX
gujaf-367	103	25	strongly	strongly	ADV
gujaf-367	103	26	rejected	reject	VERB
gujaf-367	103	27	for	for	ADP
gujaf-367	103	28	all	all	DET
gujaf-367	103	29	variables	variable	NOUN
gujaf-367	103	30	.	.	PUNCT
gujaf-367	104	1	the	the	DET
gujaf-367	104	2	ips	ips	PROPN
gujaf-367	104	3	test	test	NOUN
gujaf-367	104	4	,	,	PUNCT
gujaf-367	104	5	which	which	PRON
gujaf-367	104	6	allows	allow	VERB
gujaf-367	104	7	for	for	ADP
gujaf-367	104	8	individual	individual	ADJ
gujaf-367	104	9	unit	unit	NOUN
gujaf-367	104	10	root	root	NOUN
gujaf-367	104	11	processes	process	NOUN
gujaf-367	104	12	,	,	PUNCT
gujaf-367	104	13	also	also	ADV
gujaf-367	104	14	rejects	reject	VERB
gujaf-367	104	15	the	the	DET
gujaf-367	104	16	null	null	ADJ
gujaf-367	104	17	hypothesis	hypothesis	NOUN
gujaf-367	104	18	for	for	ADP
gujaf-367	104	19	all	all	DET
gujaf-367	104	20	variables	variable	NOUN
gujaf-367	104	21	,	,	PUNCT
gujaf-367	104	22	confirming	confirm	VERB
gujaf-367	104	23	their	their	PRON
gujaf-367	104	24	stationarity	stationarity	NOUN
gujaf-367	104	25	.	.	PUNCT
gujaf-367	105	1	these	these	DET
gujaf-367	105	2	results	result	NOUN
gujaf-367	105	3	suggest	suggest	VERB
gujaf-367	105	4	that	that	SCONJ
gujaf-367	105	5	the	the	DET
gujaf-367	105	6	variables	variable	NOUN
gujaf-367	105	7	are	be	AUX
gujaf-367	105	8	integrated	integrate	VERB
gujaf-367	105	9	of	of	ADP
gujaf-367	105	10	order	order	NOUN
gujaf-367	105	11	one	one	NUM
gujaf-367	105	12	,	,	PUNCT
gujaf-367	105	13	making	make	VERB
gujaf-367	105	14	them	they	PRON
gujaf-367	105	15	suitable	suitable	ADJ
gujaf-367	105	16	for	for	ADP
gujaf-367	105	17	inclusion	inclusion	NOUN
gujaf-367	105	18	in	in	ADP
gujaf-367	105	19	co	co	NOUN
gujaf-367	105	20	-	-	NOUN
gujaf-367	105	21	integration	integration	NOUN
gujaf-367	105	22	and	and	CCONJ
gujaf-367	105	23	dynamic	dynamic	ADJ
gujaf-367	105	24	panel	panel	NOUN
gujaf-367	105	25	data	datum	NOUN
gujaf-367	105	26	models	model	NOUN
gujaf-367	105	27	.	.	PUNCT
gujaf-367	106	1	table	table	NOUN
gujaf-367	106	2	4	4	NUM
gujaf-367	106	3	reports	report	VERB
gujaf-367	106	4	the	the	DET
gujaf-367	106	5	results	result	NOUN
gujaf-367	106	6	from	from	ADP
gujaf-367	106	7	the	the	DET
gujaf-367	106	8	pedroni	pedroni	ADJ
gujaf-367	106	9	co	co	NOUN
gujaf-367	106	10	-	-	NOUN
gujaf-367	106	11	integration	integration	NOUN
gujaf-367	106	12	tests	test	NOUN
gujaf-367	106	13	,	,	PUNCT
gujaf-367	106	14	which	which	PRON
gujaf-367	106	15	examine	examine	VERB
gujaf-367	106	16	the	the	DET
gujaf-367	106	17	long	long	ADV
gujaf-367	106	18	-	-	PUNCT
gujaf-367	106	19	run	run	NOUN
gujaf-367	106	20	relationships	relationship	NOUN
gujaf-367	106	21	between	between	ADP
gujaf-367	106	22	the	the	DET
gujaf-367	106	23	variables	variable	NOUN
gujaf-367	106	24	.	.	PUNCT
gujaf-367	107	1	the	the	DET
gujaf-367	107	2	results	result	NOUN
gujaf-367	107	3	from	from	ADP
gujaf-367	107	4	the	the	DET
gujaf-367	107	5	within	within	ADP
gujaf-367	107	6	-	-	PUNCT
gujaf-367	107	7	dimension	dimension	NOUN
gujaf-367	107	8	tests	test	NOUN
gujaf-367	107	9	reveal	reveal	VERB
gujaf-367	107	10	that	that	SCONJ
gujaf-367	107	11	the	the	DET
gujaf-367	107	12	null	null	ADJ
gujaf-367	107	13	hypothesis	hypothesis	NOUN
gujaf-367	107	14	of	of	ADP
gujaf-367	107	15	no	no	DET
gujaf-367	107	16	co	co	NOUN
gujaf-367	107	17	-	-	NOUN
gujaf-367	107	18	integration	integration	NOUN
gujaf-367	107	19	is	be	AUX
gujaf-367	107	20	rejected	reject	VERB
gujaf-367	107	21	for	for	ADP
gujaf-367	107	22	most	most	ADJ
gujaf-367	107	23	statistics	statistic	NOUN
gujaf-367	107	24	,	,	PUNCT
gujaf-367	107	25	with	with	ADP
gujaf-367	107	26	the	the	DET
gujaf-367	107	27	panel	panel	NOUN
gujaf-367	107	28	pp	pp	ADV
gujaf-367	107	29	-	-	PUNCT
gujaf-367	107	30	statistic	statistic	NOUN
gujaf-367	107	31	and	and	CCONJ
gujaf-367	107	32	panel	panel	NOUN
gujaf-367	107	33	adf	adf	PROPN
gujaf-367	107	34	-	-	PUNCT
gujaf-367	107	35	statistic	statistic	NOUN
gujaf-367	107	36	yielding	yield	VERB
gujaf-367	107	37	significant	significant	ADJ
gujaf-367	107	38	results	result	NOUN
gujaf-367	107	39	at	at	ADP
gujaf-367	107	40	the	the	DET
gujaf-367	107	41	1	1	NUM
gujaf-367	107	42	%	%	NOUN
gujaf-367	107	43	level	level	NOUN
gujaf-367	107	44	,	,	PUNCT
gujaf-367	107	45	indicating	indicate	VERB
gujaf-367	107	46	a	a	DET
gujaf-367	107	47	long	long	ADV
gujaf-367	107	48	-	-	PUNCT
gujaf-367	107	49	run	run	NOUN
gujaf-367	107	50	relationship	relationship	NOUN
gujaf-367	107	51	between	between	ADP
gujaf-367	107	52	the	the	DET
gujaf-367	107	53	variables	variable	NOUN
gujaf-367	107	54	.	.	PUNCT
gujaf-367	108	1	specifically	specifically	ADV
gujaf-367	108	2	,	,	PUNCT
gujaf-367	108	3	the	the	DET
gujaf-367	108	4	exdb	exdb	PROPN
gujaf-367	108	5	(	(	PUNCT
gujaf-367	108	6	external	external	ADJ
gujaf-367	108	7	debt	debt	NOUN
gujaf-367	108	8	)	)	PUNCT
gujaf-367	108	9	and	and	CCONJ
gujaf-367	108	10	exds	exds	ADJ
gujaf-367	108	11	(	(	PUNCT
gujaf-367	108	12	external	external	ADJ
gujaf-367	108	13	debt	debt	NOUN
gujaf-367	108	14	service	service	NOUN
gujaf-367	108	15	)	)	PUNCT
gujaf-367	108	16	variables	variable	NOUN
gujaf-367	108	17	exhibit	exhibit	VERB
gujaf-367	108	18	co	co	ADJ
gujaf-367	108	19	-	-	ADJ
gujaf-367	108	20	integrating	integrating	ADJ
gujaf-367	108	21	relationships	relationship	NOUN
gujaf-367	108	22	with	with	ADP
gujaf-367	108	23	gdpg	gdpg	PROPN
gujaf-367	108	24	(	(	PUNCT
gujaf-367	108	25	gdp	gdp	NOUN
gujaf-367	108	26	growth	growth	NOUN
gujaf-367	108	27	)	)	PUNCT
gujaf-367	108	28	and	and	CCONJ
gujaf-367	108	29	other	other	ADJ
gujaf-367	108	30	macroeconomic	macroeconomic	ADJ
gujaf-367	108	31	factors	factor	NOUN
gujaf-367	108	32	.	.	PUNCT
gujaf-367	109	1	the	the	DET
gujaf-367	109	2	between	between	ADP
gujaf-367	109	3	-	-	PUNCT
gujaf-367	109	4	dimension	dimension	NOUN
gujaf-367	109	5	tests	test	NOUN
gujaf-367	109	6	also	also	ADV
gujaf-367	109	7	show	show	VERB
gujaf-367	109	8	strong	strong	ADJ
gujaf-367	109	9	evidence	evidence	NOUN
gujaf-367	109	10	of	of	ADP
gujaf-367	109	11	cointegration	cointegration	NOUN
gujaf-367	109	12	,	,	PUNCT
gujaf-367	109	13	further	far	ADV
gujaf-367	109	14	supporting	support	VERB
gujaf-367	109	15	the	the	DET
gujaf-367	109	16	existence	existence	NOUN
gujaf-367	109	17	of	of	ADP
gujaf-367	109	18	long	long	ADJ
gujaf-367	109	19	-	-	PUNCT
gujaf-367	109	20	term	term	NOUN
gujaf-367	109	21	relationships	relationship	NOUN
gujaf-367	109	22	between	between	ADP
gujaf-367	109	23	the	the	DET
gujaf-367	109	24	variables	variable	NOUN
gujaf-367	109	25	in	in	ADP
gujaf-367	109	26	gusau	gusau	ADJ
gujaf-367	109	27	journal	journal	NOUN
gujaf-367	109	28	of	of	ADP
gujaf-367	109	29	accounting	accounting	NOUN
gujaf-367	109	30	and	and	CCONJ
gujaf-367	109	31	finance	finance	NOUN
gujaf-367	109	32	,	,	PUNCT
gujaf-367	109	33	vol.6	vol.6	PROPN
gujaf-367	109	34	,	,	PUNCT
gujaf-367	109	35	issue	issue	NOUN
gujaf-367	109	36	1	1	NUM
gujaf-367	109	37	,	,	PUNCT
gujaf-367	109	38	april	april	PROPN
gujaf-367	109	39	,	,	PUNCT
gujaf-367	109	40	2025	2025	NUM
gujaf-367	109	41	56	56	NUM
gujaf-367	109	42	the	the	DET
gujaf-367	109	43	model	model	NOUN
gujaf-367	109	44	.	.	PUNCT
gujaf-367	110	1	these	these	DET
gujaf-367	110	2	findings	finding	NOUN
gujaf-367	110	3	provide	provide	VERB
gujaf-367	110	4	strong	strong	ADJ
gujaf-367	110	5	evidence	evidence	NOUN
gujaf-367	110	6	that	that	SCONJ
gujaf-367	110	7	external	external	ADJ
gujaf-367	110	8	debt	debt	NOUN
gujaf-367	110	9	and	and	CCONJ
gujaf-367	110	10	debt	debt	NOUN
gujaf-367	110	11	service	service	NOUN
gujaf-367	110	12	,	,	PUNCT
gujaf-367	110	13	along	along	ADP
gujaf-367	110	14	with	with	ADP
gujaf-367	110	15	other	other	ADJ
gujaf-367	110	16	macroeconomic	macroeconomic	ADJ
gujaf-367	110	17	variables	variable	NOUN
gujaf-367	110	18	,	,	PUNCT
gujaf-367	110	19	are	be	AUX
gujaf-367	110	20	interrelated	interrelate	VERB
gujaf-367	110	21	over	over	ADP
gujaf-367	110	22	time	time	NOUN
gujaf-367	110	23	.	.	PUNCT
gujaf-367	111	1	table	table	NOUN
gujaf-367	111	2	3	3	NUM
gujaf-367	111	3	:	:	PUNCT
gujaf-367	111	4	panel	panel	NOUN
gujaf-367	111	5	unit	unit	NOUN
gujaf-367	111	6	root	root	NOUN
gujaf-367	111	7	tests	test	VERB
gujaf-367	111	8	variable	variable	ADJ
gujaf-367	111	9	llc	llc	NOUN
gujaf-367	111	10	(	(	PUNCT
gujaf-367	111	11	p	p	NOUN
gujaf-367	111	12	)	)	PUNCT
gujaf-367	111	13	ips	ip	NOUN
gujaf-367	111	14	(	(	PUNCT
gujaf-367	111	15	p	p	NOUN
gujaf-367	111	16	)	)	PUNCT
gujaf-367	111	17	adf	adf	PROPN
gujaf-367	111	18	fisher	fisher	NOUN
gujaf-367	111	19	(	(	PUNCT
gujaf-367	111	20	p	p	X
gujaf-367	111	21	)	)	PUNCT
gujaf-367	111	22	pp	pp	PROPN
gujaf-367	111	23	fisher	fisher	PROPN
gujaf-367	111	24	(	(	PUNCT
gujaf-367	111	25	p	p	NOUN
gujaf-367	111	26	)	)	PUNCT
gujaf-367	111	27	remark	remark	NOUN
gujaf-367	111	28	gdpg	gdpg	PROPN
gujaf-367	111	29	-13.084	-13.084	PROPN
gujaf-367	111	30	(	(	PUNCT
gujaf-367	111	31	0.000	0.000	NUM
gujaf-367	111	32	)	)	PUNCT
gujaf-367	111	33	-6.024	-6.024	X
gujaf-367	111	34	(	(	PUNCT
gujaf-367	111	35	0.000	0.000	NUM
gujaf-367	111	36	)	)	PUNCT
gujaf-367	111	37	87.481	87.481	NUM
gujaf-367	111	38	(	(	PUNCT
gujaf-367	111	39	0.000	0.000	NUM
gujaf-367	111	40	)	)	PUNCT
gujaf-367	111	41	189.272	189.272	NUM
gujaf-367	111	42	(	(	PUNCT
gujaf-367	111	43	0.000	0.000	NUM
gujaf-367	111	44	)	)	PUNCT
gujaf-367	111	45	stationary	stationary	ADJ
gujaf-367	111	46	exdb	exdb	VERB
gujaf-367	111	47	-14.815	-14.815	NOUN
gujaf-367	111	48	(	(	PUNCT
gujaf-367	111	49	0.000	0.000	NUM
gujaf-367	111	50	)	)	PUNCT
gujaf-367	111	51	-8.481	-8.481	NOUN
gujaf-367	112	1	(	(	PUNCT
gujaf-367	112	2	0.000	0.000	NUM
gujaf-367	112	3	)	)	PUNCT
gujaf-367	112	4	108.892	108.892	NUM
gujaf-367	112	5	(	(	PUNCT
gujaf-367	112	6	0.000	0.000	NUM
gujaf-367	112	7	)	)	PUNCT
gujaf-367	112	8	135.604	135.604	NUM
gujaf-367	112	9	(	(	PUNCT
gujaf-367	112	10	0.000	0.000	NUM
gujaf-367	112	11	)	)	PUNCT
gujaf-367	112	12	stationary	stationary	ADJ
gujaf-367	112	13	exds	exds	NOUN
gujaf-367	112	14	-13.046	-13.046	PROPN
gujaf-367	112	15	(	(	PUNCT
gujaf-367	112	16	0.000	0.000	NUM
gujaf-367	112	17	)	)	PUNCT
gujaf-367	112	18	-7.073	-7.073	NOUN
gujaf-367	112	19	(	(	PUNCT
gujaf-367	112	20	0.000	0.000	NUM
gujaf-367	112	21	)	)	PUNCT
gujaf-367	112	22	99.940	99.940	NUM
gujaf-367	112	23	(	(	PUNCT
gujaf-367	112	24	0.000	0.000	NUM
gujaf-367	112	25	)	)	PUNCT
gujaf-367	112	26	123.158	123.158	NUM
gujaf-367	112	27	(	(	PUNCT
gujaf-367	112	28	0.000	0.000	NUM
gujaf-367	112	29	)	)	PUNCT
gujaf-367	112	30	stationary	stationary	ADJ
gujaf-367	112	31	empl	empl	NOUN
gujaf-367	112	32	-6.276	-6.276	PROPN
gujaf-367	112	33	(	(	PUNCT
gujaf-367	112	34	0.000	0.000	NUM
gujaf-367	112	35	)	)	PUNCT
gujaf-367	112	36	-2.323	-2.323	NOUN
gujaf-367	112	37	(	(	PUNCT
gujaf-367	112	38	0.010	0.010	NUM
gujaf-367	112	39	)	)	PUNCT
gujaf-367	112	40	48.733	48.733	NUM
gujaf-367	112	41	(	(	PUNCT
gujaf-367	112	42	0.017	0.017	NUM
gujaf-367	112	43	)	)	PUNCT
gujaf-367	112	44	72.080	72.080	NUM
gujaf-367	112	45	(	(	PUNCT
gujaf-367	112	46	0.000	0.000	X
gujaf-367	112	47	)	)	PUNCT
gujaf-367	112	48	stationary	stationary	ADJ
gujaf-367	112	49	gfcg	gfcg	PROPN
gujaf-367	112	50	-10.061	-10.061	PUNCT
gujaf-367	112	51	(	(	PUNCT
gujaf-367	112	52	0.000	0.000	NUM
gujaf-367	112	53	)	)	PUNCT
gujaf-367	112	54	-1.859	-1.859	PUNCT
gujaf-367	113	1	(	(	PUNCT
gujaf-367	113	2	0.032	0.032	NUM
gujaf-367	113	3	)	)	PUNCT
gujaf-367	113	4	90.313	90.313	NUM
gujaf-367	113	5	(	(	PUNCT
gujaf-367	113	6	0.000	0.000	NUM
gujaf-367	113	7	)	)	PUNCT
gujaf-367	113	8	124.622	124.622	NUM
gujaf-367	113	9	(	(	PUNCT
gujaf-367	113	10	0.000	0.000	NUM
gujaf-367	113	11	)	)	PUNCT
gujaf-367	113	12	stationary	stationary	PROPN
gujaf-367	113	13	fdi	fdi	PROPN
gujaf-367	113	14	/	/	SYM
gujaf-367	113	15	gdp	gdp	NOUN
gujaf-367	113	16	-11.245	-11.245	X
gujaf-367	113	17	(	(	PUNCT
gujaf-367	113	18	0.000	0.000	NUM
gujaf-367	113	19	)	)	PUNCT
gujaf-367	113	20	-7.360	-7.360	PUNCT
gujaf-367	113	21	(	(	PUNCT
gujaf-367	113	22	0.000	0.000	NUM
gujaf-367	113	23	)	)	PUNCT
gujaf-367	113	24	100.057	100.057	NUM
gujaf-367	113	25	(	(	PUNCT
gujaf-367	113	26	0.000	0.000	NUM
gujaf-367	113	27	)	)	PUNCT
gujaf-367	113	28	137.888	137.888	NUM
gujaf-367	113	29	(	(	PUNCT
gujaf-367	113	30	0.000	0.000	NUM
gujaf-367	113	31	)	)	PUNCT
gujaf-367	113	32	stationary	stationary	ADJ
gujaf-367	113	33	source	source	NOUN
gujaf-367	113	34	:	:	PUNCT
gujaf-367	113	35	author	author	NOUN
gujaf-367	113	36	(	(	PUNCT
gujaf-367	113	37	2025	2025	NUM
gujaf-367	113	38	)	)	PUNCT
gujaf-367	113	39	table	table	NOUN
gujaf-367	113	40	4	4	NUM
gujaf-367	113	41	:	:	PUNCT
gujaf-367	113	42	pedroni	pedroni	ADJ
gujaf-367	113	43	co	co	NOUN
gujaf-367	113	44	-	-	NOUN
gujaf-367	113	45	integration	integration	NOUN
gujaf-367	113	46	tests	test	NOUN
gujaf-367	113	47	(	(	PUNCT
gujaf-367	113	48	p	p	NOUN
gujaf-367	113	49	-	-	PUNCT
gujaf-367	113	50	values	value	NOUN
gujaf-367	113	51	in	in	ADP
gujaf-367	113	52	parentheses	parenthesis	NOUN
gujaf-367	113	53	)	)	PUNCT
gujaf-367	113	54	panel	panel	NOUN
gujaf-367	113	55	a	a	DET
gujaf-367	113	56	:	:	PUNCT
gujaf-367	113	57	within	within	ADP
gujaf-367	113	58	-	-	PUNCT
gujaf-367	113	59	dimension	dimension	NOUN
gujaf-367	113	60	tests	test	NOUN
gujaf-367	113	61	statistic	statistic	VERB
gujaf-367	113	62	type	type	NOUN
gujaf-367	113	63	no	no	DET
gujaf-367	113	64	trend	trend	NOUN
gujaf-367	113	65	intercept	intercept	NOUN
gujaf-367	113	66	+	+	CCONJ
gujaf-367	113	67	trend	trend	NOUN
gujaf-367	113	68	no	no	DET
gujaf-367	113	69	intercept	intercept	NOUN
gujaf-367	113	70	/	/	SYM
gujaf-367	113	71	trend	trend	NOUN
gujaf-367	113	72	panel	panel	NOUN
gujaf-367	113	73	v	v	NOUN
gujaf-367	113	74	-	-	PUNCT
gujaf-367	113	75	statistic	statistic	ADJ
gujaf-367	113	76	-3.748	-3.748	X
gujaf-367	113	77	(	(	PUNCT
gujaf-367	113	78	0.999	0.999	NUM
gujaf-367	113	79	)	)	PUNCT
gujaf-367	113	80	-5.193	-5.193	NOUN
gujaf-367	113	81	(	(	PUNCT
gujaf-367	113	82	1.000	1.000	NUM
gujaf-367	113	83	)	)	PUNCT
gujaf-367	113	84	-3.030	-3.030	NUM
gujaf-367	113	85	(	(	PUNCT
gujaf-367	113	86	0.999	0.999	NUM
gujaf-367	113	87	)	)	PUNCT
gujaf-367	113	88	weighted	weight	VERB
gujaf-367	113	89	panel	panel	NOUN
gujaf-367	113	90	v	v	ADP
gujaf-367	113	91	-4.070	-4.070	NUM
gujaf-367	113	92	(	(	PUNCT
gujaf-367	113	93	1.000	1.000	NUM
gujaf-367	113	94	)	)	PUNCT
gujaf-367	113	95	-5.522	-5.522	NUM
gujaf-367	113	96	(	(	PUNCT
gujaf-367	113	97	1.000	1.000	NUM
gujaf-367	113	98	)	)	PUNCT
gujaf-367	113	99	-3.333	-3.333	NOUN
gujaf-367	113	100	(	(	PUNCT
gujaf-367	113	101	1.000	1.000	NUM
gujaf-367	113	102	)	)	PUNCT
gujaf-367	113	103	panel	panel	NOUN
gujaf-367	113	104	rho	rho	NOUN
gujaf-367	113	105	-	-	NOUN
gujaf-367	113	106	statistic	statistic	NOUN
gujaf-367	113	107	5.394	5.394	NUM
gujaf-367	113	108	(	(	PUNCT
gujaf-367	113	109	1.000	1.000	NUM
gujaf-367	113	110	)	)	PUNCT
gujaf-367	113	111	6.989	6.989	NUM
gujaf-367	113	112	(	(	PUNCT
gujaf-367	113	113	1.000	1.000	NUM
gujaf-367	113	114	)	)	PUNCT
gujaf-367	113	115	4.791	4.791	NUM
gujaf-367	113	116	(	(	PUNCT
gujaf-367	113	117	1.000	1.000	NUM
gujaf-367	113	118	)	)	PUNCT
gujaf-367	113	119	weighted	weight	VERB
gujaf-367	113	120	panel	panel	NOUN
gujaf-367	113	121	rho	rho	VERB
gujaf-367	113	122	5.260	5.260	NUM
gujaf-367	113	123	(	(	PUNCT
gujaf-367	113	124	1.000	1.000	NUM
gujaf-367	113	125	)	)	PUNCT
gujaf-367	113	126	6.819	6.819	NUM
gujaf-367	113	127	(	(	PUNCT
gujaf-367	113	128	1.000	1.000	NUM
gujaf-367	113	129	)	)	PUNCT
gujaf-367	113	130	4.668	4.668	NUM
gujaf-367	113	131	(	(	PUNCT
gujaf-367	113	132	1.000	1.000	NUM
gujaf-367	113	133	)	)	PUNCT
gujaf-367	113	134	panel	panel	NOUN
gujaf-367	113	135	pp	pp	ADJ
gujaf-367	113	136	-	-	PUNCT
gujaf-367	113	137	statistic	statistic	NOUN
gujaf-367	113	138	-4.210	-4.210	NOUN
gujaf-367	113	139	(	(	PUNCT
gujaf-367	113	140	0.000	0.000	NUM
gujaf-367	113	141	)	)	PUNCT
gujaf-367	113	142	*	*	PUNCT
gujaf-367	114	1	-4.250	-4.250	PUNCT
gujaf-367	114	2	(	(	PUNCT
gujaf-367	114	3	0.000	0.000	NUM
gujaf-367	114	4	)	)	PUNCT
gujaf-367	114	5	*	*	PUNCT
gujaf-367	115	1	-0.972	-0.972	PUNCT
gujaf-367	115	2	(	(	PUNCT
gujaf-367	115	3	0.166	0.166	NUM
gujaf-367	115	4	)	)	PUNCT
gujaf-367	115	5	weighted	weight	VERB
gujaf-367	115	6	panel	panel	NOUN
gujaf-367	115	7	pp	pp	ADP
gujaf-367	115	8	-5.352	-5.352	PUNCT
gujaf-367	115	9	(	(	PUNCT
gujaf-367	115	10	0.000	0.000	NUM
gujaf-367	115	11	)	)	PUNCT
gujaf-367	115	12	*	*	PUNCT
gujaf-367	116	1	-7.109	-7.109	PRON
gujaf-367	116	2	(	(	PUNCT
gujaf-367	116	3	0.000	0.000	NUM
gujaf-367	116	4	)	)	PUNCT
gujaf-367	116	5	*	*	PUNCT
gujaf-367	116	6	-1.608	-1.608	X
gujaf-367	116	7	(	(	PUNCT
gujaf-367	116	8	0.054	0.054	NUM
gujaf-367	116	9	)	)	PUNCT
gujaf-367	117	1	*	*	PROPN
gujaf-367	117	2	panel	panel	PROPN
gujaf-367	117	3	adf	adf	NOUN
gujaf-367	117	4	-	-	PUNCT
gujaf-367	117	5	statistic	statistic	NOUN
gujaf-367	117	6	-4.388	-4.388	X
gujaf-367	117	7	(	(	PUNCT
gujaf-367	117	8	0.000	0.000	NUM
gujaf-367	117	9	)	)	PUNCT
gujaf-367	117	10	*	*	PUNCT
gujaf-367	117	11	-4.844	-4.844	X
gujaf-367	117	12	(	(	PUNCT
gujaf-367	117	13	0.000	0.000	NUM
gujaf-367	117	14	)	)	PUNCT
gujaf-367	117	15	*	*	PUNCT
gujaf-367	118	1	-5.513	-5.513	PRON
gujaf-367	118	2	(	(	PUNCT
gujaf-367	118	3	0.000	0.000	NUM
gujaf-367	118	4	)	)	PUNCT
gujaf-367	118	5	*	*	VERB
gujaf-367	119	1	weighted	weight	VERB
gujaf-367	119	2	panel	panel	NOUN
gujaf-367	119	3	adf	adf	PROPN
gujaf-367	119	4	-4.329	-4.329	PROPN
gujaf-367	119	5	(	(	PUNCT
gujaf-367	119	6	0.000	0.000	NUM
gujaf-367	119	7	)	)	PUNCT
gujaf-367	119	8	*	*	PUNCT
gujaf-367	120	1	-5.671	-5.671	PUNCT
gujaf-367	120	2	(	(	PUNCT
gujaf-367	120	3	0.000	0.000	NUM
gujaf-367	120	4	)	)	PUNCT
gujaf-367	120	5	*	*	PUNCT
gujaf-367	120	6	-5.339	-5.339	X
gujaf-367	120	7	(	(	PUNCT
gujaf-367	120	8	0.000	0.000	NUM
gujaf-367	120	9	)	)	PUNCT
gujaf-367	120	10	*	*	PROPN
gujaf-367	120	11	panel	panel	PROPN
gujaf-367	120	12	b	b	NOUN
gujaf-367	120	13	:	:	PUNCT
gujaf-367	120	14	between	between	ADP
gujaf-367	120	15	-	-	PUNCT
gujaf-367	120	16	dimension	dimension	NOUN
gujaf-367	120	17	tests	test	NOUN
gujaf-367	120	18	statistic	statistic	VERB
gujaf-367	120	19	no	no	DET
gujaf-367	120	20	trend	trend	NOUN
gujaf-367	120	21	intercept	intercept	NOUN
gujaf-367	120	22	+	+	CCONJ
gujaf-367	120	23	trend	trend	NOUN
gujaf-367	120	24	no	no	DET
gujaf-367	120	25	intercept	intercept	NOUN
gujaf-367	120	26	/	/	SYM
gujaf-367	120	27	trend	trend	NOUN
gujaf-367	120	28	group	group	NOUN
gujaf-367	120	29	rho	rho	NOUN
gujaf-367	120	30	-	-	NOUN
gujaf-367	120	31	statistic	statistic	NOUN
gujaf-367	120	32	7.128	7.128	NUM
gujaf-367	120	33	(	(	PUNCT
gujaf-367	120	34	1.000	1.000	NUM
gujaf-367	120	35	)	)	PUNCT
gujaf-367	120	36	8.332	8.332	NUM
gujaf-367	120	37	(	(	PUNCT
gujaf-367	120	38	1.000	1.000	NUM
gujaf-367	120	39	)	)	PUNCT
gujaf-367	120	40	6.759	6.759	NUM
gujaf-367	120	41	(	(	PUNCT
gujaf-367	120	42	1.000	1.000	NUM
gujaf-367	120	43	)	)	PUNCT
gujaf-367	120	44	group	group	NOUN
gujaf-367	120	45	pp	pp	NOUN
gujaf-367	120	46	-	-	PUNCT
gujaf-367	120	47	statistic	statistic	NOUN
gujaf-367	120	48	-5.501	-5.501	NUM
gujaf-367	120	49	(	(	PUNCT
gujaf-367	120	50	0.000	0.000	NUM
gujaf-367	120	51	)	)	PUNCT
gujaf-367	120	52	*	*	PUNCT
gujaf-367	120	53	-8.801	-8.801	PUNCT
gujaf-367	120	54	(	(	PUNCT
gujaf-367	120	55	0.000	0.000	NUM
gujaf-367	120	56	)	)	PUNCT
gujaf-367	120	57	*	*	PUNCT
gujaf-367	120	58	-1.400	-1.400	INTJ
gujaf-367	120	59	(	(	PUNCT
gujaf-367	120	60	0.081	0.081	NUM
gujaf-367	120	61	)	)	PUNCT
gujaf-367	121	1	*	*	PROPN
gujaf-367	121	2	group	group	PROPN
gujaf-367	121	3	adf	adf	PROPN
gujaf-367	121	4	-	-	PUNCT
gujaf-367	121	5	statistic	statistic	NOUN
gujaf-367	121	6	-4.843	-4.843	NOUN
gujaf-367	121	7	(	(	PUNCT
gujaf-367	121	8	0.000	0.000	NUM
gujaf-367	121	9	)	)	PUNCT
gujaf-367	121	10	*	*	PUNCT
gujaf-367	122	1	-6.827	-6.827	PUNCT
gujaf-367	122	2	(	(	PUNCT
gujaf-367	122	3	0.000	0.000	NUM
gujaf-367	122	4	)	)	PUNCT
gujaf-367	122	5	*	*	NOUN
gujaf-367	122	6	-6.317	-6.317	NOUN
gujaf-367	122	7	(	(	PUNCT
gujaf-367	122	8	0.000	0.000	NUM
gujaf-367	122	9	)	)	PUNCT
gujaf-367	122	10	*	*	PUNCT
gujaf-367	122	11	source	source	NOUN
gujaf-367	122	12	:	:	PUNCT
gujaf-367	122	13	author	author	NOUN
gujaf-367	122	14	(	(	PUNCT
gujaf-367	122	15	2025	2025	NUM
gujaf-367	122	16	)	)	PUNCT
gujaf-367	122	17	table	table	NOUN
gujaf-367	122	18	5	5	NUM
gujaf-367	122	19	presents	present	VERB
gujaf-367	122	20	the	the	DET
gujaf-367	122	21	estimation	estimation	NOUN
gujaf-367	122	22	results	result	VERB
gujaf-367	122	23	from	from	ADP
gujaf-367	122	24	the	the	DET
gujaf-367	122	25	random	random	ADJ
gujaf-367	122	26	effects	effect	NOUN
gujaf-367	122	27	(	(	PUNCT
gujaf-367	122	28	re	re	NOUN
gujaf-367	122	29	)	)	PUNCT
gujaf-367	122	30	and	and	CCONJ
gujaf-367	122	31	fully	fully	ADV
gujaf-367	122	32	modified	modify	VERB
gujaf-367	122	33	ordinary	ordinary	ADJ
gujaf-367	122	34	least	least	ADJ
gujaf-367	122	35	squares	square	NOUN
gujaf-367	122	36	(	(	PUNCT
gujaf-367	122	37	fmols	fmol	NOUN
gujaf-367	122	38	)	)	PUNCT
gujaf-367	122	39	models	model	NOUN
gujaf-367	122	40	,	,	PUNCT
gujaf-367	122	41	with	with	ADP
gujaf-367	122	42	and	and	CCONJ
gujaf-367	122	43	without	without	ADP
gujaf-367	122	44	interaction	interaction	NOUN
gujaf-367	122	45	terms	term	NOUN
gujaf-367	122	46	between	between	ADP
gujaf-367	122	47	exdb	exdb	PROPN
gujaf-367	122	48	(	(	PUNCT
gujaf-367	122	49	external	external	ADJ
gujaf-367	122	50	debt	debt	NOUN
gujaf-367	122	51	)	)	PUNCT
gujaf-367	122	52	and	and	CCONJ
gujaf-367	122	53	exds	exds	ADJ
gujaf-367	122	54	(	(	PUNCT
gujaf-367	122	55	external	external	ADJ
gujaf-367	122	56	debt	debt	NOUN
gujaf-367	122	57	service	service	NOUN
gujaf-367	122	58	)	)	PUNCT
gujaf-367	122	59	.	.	PUNCT
gujaf-367	123	1	in	in	ADP
gujaf-367	123	2	the	the	DET
gujaf-367	123	3	random	random	ADJ
gujaf-367	123	4	effects	effect	NOUN
gujaf-367	123	5	model	model	NOUN
gujaf-367	123	6	,	,	PUNCT
gujaf-367	123	7	the	the	DET
gujaf-367	123	8	coefficient	coefficient	NOUN
gujaf-367	123	9	for	for	ADP
gujaf-367	123	10	dexdb	dexdb	ADJ
gujaf-367	123	11	is	be	AUX
gujaf-367	123	12	negative	negative	ADJ
gujaf-367	123	13	and	and	CCONJ
gujaf-367	123	14	highly	highly	ADV
gujaf-367	123	15	significant	significant	ADJ
gujaf-367	123	16	(	(	PUNCT
gujaf-367	123	17	-3.090	-3.090	ADJ
gujaf-367	123	18	)	)	PUNCT
gujaf-367	123	19	,	,	PUNCT
gujaf-367	123	20	indicating	indicate	VERB
gujaf-367	123	21	that	that	SCONJ
gujaf-367	123	22	an	an	DET
gujaf-367	123	23	increase	increase	NOUN
gujaf-367	123	24	in	in	ADP
gujaf-367	123	25	external	external	ADJ
gujaf-367	123	26	debt	debt	NOUN
gujaf-367	123	27	is	be	AUX
gujaf-367	123	28	associated	associate	VERB
gujaf-367	123	29	with	with	ADP
gujaf-367	123	30	a	a	DET
gujaf-367	123	31	decrease	decrease	NOUN
gujaf-367	123	32	in	in	ADP
gujaf-367	123	33	gdp	gdp	NOUN
gujaf-367	123	34	growth	growth	NOUN
gujaf-367	123	35	.	.	PUNCT
gujaf-367	124	1	the	the	DET
gujaf-367	124	2	exdb×exds	exdb×exds	PROPN
gujaf-367	124	3	interaction	interaction	NOUN
gujaf-367	124	4	term	term	NOUN
gujaf-367	124	5	is	be	AUX
gujaf-367	124	6	significantly	significantly	ADV
gujaf-367	124	7	positive	positive	ADJ
gujaf-367	124	8	in	in	ADP
gujaf-367	124	9	the	the	DET
gujaf-367	124	10	fmols	fmol	NOUN
gujaf-367	124	11	model	model	NOUN
gujaf-367	124	12	(	(	PUNCT
gujaf-367	124	13	2.640	2.640	NUM
gujaf-367	124	14	)	)	PUNCT
gujaf-367	124	15	,	,	PUNCT
gujaf-367	124	16	suggesting	suggest	VERB
gujaf-367	124	17	that	that	SCONJ
gujaf-367	124	18	the	the	DET
gujaf-367	124	19	interaction	interaction	NOUN
gujaf-367	124	20	between	between	ADP
gujaf-367	124	21	external	external	ADJ
gujaf-367	124	22	debt	debt	NOUN
gujaf-367	124	23	and	and	CCONJ
gujaf-367	124	24	debt	debt	NOUN
gujaf-367	124	25	service	service	NOUN
gujaf-367	124	26	has	have	VERB
gujaf-367	124	27	a	a	DET
gujaf-367	124	28	positive	positive	ADJ
gujaf-367	124	29	impact	impact	NOUN
gujaf-367	124	30	on	on	ADP
gujaf-367	124	31	gdp	gdp	NOUN
gujaf-367	124	32	growth	growth	NOUN
gujaf-367	124	33	in	in	ADP
gujaf-367	124	34	the	the	DET
gujaf-367	124	35	long	long	ADJ
gujaf-367	124	36	run	run	NOUN
gujaf-367	124	37	.	.	PUNCT
gujaf-367	125	1	the	the	DET
gujaf-367	125	2	variable	variable	ADJ
gujaf-367	125	3	empl	empl	PROPN
gujaf-367	125	4	(	(	PUNCT
gujaf-367	125	5	employment	employment	NOUN
gujaf-367	125	6	)	)	PUNCT
gujaf-367	125	7	is	be	AUX
gujaf-367	125	8	positively	positively	ADV
gujaf-367	125	9	associated	associate	VERB
gujaf-367	125	10	with	with	ADP
gujaf-367	125	11	gdp	gdp	NOUN
gujaf-367	125	12	growth	growth	NOUN
gujaf-367	125	13	in	in	ADP
gujaf-367	125	14	both	both	DET
gujaf-367	125	15	models	model	NOUN
gujaf-367	125	16	,	,	PUNCT
gujaf-367	125	17	with	with	ADP
gujaf-367	125	18	the	the	DET
gujaf-367	125	19	re	re	PROPN
gujaf-367	125	20	model	model	PROPN
gujaf-367	125	21	estimating	estimate	VERB
gujaf-367	125	22	a	a	DET
gujaf-367	125	23	coefficient	coefficient	NOUN
gujaf-367	125	24	of	of	ADP
gujaf-367	125	25	10.557	10.557	NUM
gujaf-367	125	26	and	and	CCONJ
gujaf-367	125	27	the	the	DET
gujaf-367	125	28	fmols	fmol	NOUN
gujaf-367	125	29	model	model	NOUN
gujaf-367	125	30	showing	show	VERB
gujaf-367	125	31	a	a	DET
gujaf-367	125	32	higher	high	ADJ
gujaf-367	125	33	coefficient	coefficient	NOUN
gujaf-367	125	34	of	of	ADP
gujaf-367	125	35	13.759	13.759	NUM
gujaf-367	125	36	,	,	PUNCT
gujaf-367	125	37	implying	imply	VERB
gujaf-367	125	38	that	that	SCONJ
gujaf-367	125	39	higher	high	ADJ
gujaf-367	125	40	employment	employment	NOUN
gujaf-367	125	41	levels	level	NOUN
gujaf-367	125	42	contribute	contribute	VERB
gujaf-367	125	43	significantly	significantly	ADV
gujaf-367	125	44	to	to	ADP
gujaf-367	125	45	economic	economic	ADJ
gujaf-367	125	46	growth	growth	NOUN
gujaf-367	125	47	.	.	PUNCT
gujaf-367	126	1	similarly	similarly	ADV
gujaf-367	126	2	,	,	PUNCT
gujaf-367	126	3	gfcg	gfcg	PROPN
gujaf-367	126	4	(	(	PUNCT
gujaf-367	126	5	gross	gross	ADJ
gujaf-367	126	6	fixed	fix	VERB
gujaf-367	126	7	capital	capital	NOUN
gujaf-367	126	8	formation	formation	NOUN
gujaf-367	126	9	)	)	PUNCT
gujaf-367	126	10	and	and	CCONJ
gujaf-367	126	11	fdi	fdi	PROPN
gujaf-367	126	12	/	/	SYM
gujaf-367	126	13	gdp	gdp	NOUN
gujaf-367	126	14	(	(	PUNCT
gujaf-367	126	15	foreign	foreign	ADJ
gujaf-367	126	16	direct	direct	ADJ
gujaf-367	126	17	investment	investment	NOUN
gujaf-367	126	18	as	as	ADP
gujaf-367	126	19	a	a	DET
gujaf-367	126	20	percentage	percentage	NOUN
gujaf-367	126	21	of	of	ADP
gujaf-367	126	22	gdp	gdp	NOUN
gujaf-367	126	23	)	)	PUNCT
gujaf-367	126	24	also	also	ADV
gujaf-367	126	25	show	show	VERB
gujaf-367	126	26	positive	positive	ADJ
gujaf-367	126	27	coefficients	coefficient	NOUN
gujaf-367	126	28	,	,	PUNCT
gujaf-367	126	29	with	with	ADP
gujaf-367	126	30	fdi	fdi	PROPN
gujaf-367	126	31	/	/	SYM
gujaf-367	126	32	gdp	gdp	NOUN
gujaf-367	126	33	being	be	AUX
gujaf-367	126	34	particularly	particularly	ADV
gujaf-367	126	35	significant	significant	ADJ
gujaf-367	126	36	across	across	ADP
gujaf-367	126	37	all	all	DET
gujaf-367	126	38	models	model	NOUN
gujaf-367	126	39	.	.	PUNCT
gujaf-367	127	1	the	the	DET
gujaf-367	127	2	r	r	NOUN
gujaf-367	127	3	-	-	PUNCT
gujaf-367	127	4	squared	square	VERB
gujaf-367	127	5	values	value	NOUN
gujaf-367	127	6	for	for	ADP
gujaf-367	127	7	the	the	DET
gujaf-367	127	8	models	model	NOUN
gujaf-367	127	9	suggest	suggest	VERB
gujaf-367	127	10	that	that	SCONJ
gujaf-367	127	11	the	the	DET
gujaf-367	127	12	independent	independent	ADJ
gujaf-367	127	13	variables	variable	NOUN
gujaf-367	127	14	explain	explain	VERB
gujaf-367	127	15	a	a	DET
gujaf-367	127	16	substantial	substantial	ADJ
gujaf-367	127	17	proportion	proportion	NOUN
gujaf-367	127	18	of	of	ADP
gujaf-367	127	19	the	the	DET
gujaf-367	127	20	variation	variation	NOUN
gujaf-367	127	21	in	in	ADP
gujaf-367	127	22	gdp	gdp	NOUN
gujaf-367	127	23	growth	growth	NOUN
gujaf-367	127	24	,	,	PUNCT
gujaf-367	127	25	with	with	ADP
gujaf-367	127	26	the	the	DET
gujaf-367	127	27	re	re	PROPN
gujaf-367	127	28	model	model	NOUN
gujaf-367	127	29	performing	perform	VERB
gujaf-367	127	30	gusau	gusau	ADJ
gujaf-367	127	31	journal	journal	NOUN
gujaf-367	127	32	of	of	ADP
gujaf-367	127	33	accounting	accounting	NOUN
gujaf-367	127	34	and	and	CCONJ
gujaf-367	127	35	finance	finance	NOUN
gujaf-367	127	36	,	,	PUNCT
gujaf-367	127	37	vol.6	vol.6	PROPN
gujaf-367	127	38	,	,	PUNCT
gujaf-367	127	39	issue	issue	NOUN
gujaf-367	127	40	1	1	NUM
gujaf-367	127	41	,	,	PUNCT
gujaf-367	127	42	april	april	PROPN
gujaf-367	127	43	,	,	PUNCT
gujaf-367	127	44	2025	2025	NUM
gujaf-367	127	45	57	57	NUM
gujaf-367	127	46	better	well	ADV
gujaf-367	127	47	in	in	ADP
gujaf-367	127	48	terms	term	NOUN
gujaf-367	127	49	of	of	ADP
gujaf-367	127	50	fit	fit	ADJ
gujaf-367	127	51	(	(	PUNCT
gujaf-367	127	52	r	r	NOUN
gujaf-367	127	53	-	-	PUNCT
gujaf-367	127	54	squared	square	VERB
gujaf-367	127	55	=	=	NOUN
gujaf-367	127	56	0.810	0.810	NUM
gujaf-367	127	57	)	)	PUNCT
gujaf-367	127	58	.	.	PUNCT
gujaf-367	128	1	the	the	DET
gujaf-367	128	2	hausman	hausman	PROPN
gujaf-367	128	3	test	test	NOUN
gujaf-367	128	4	indicates	indicate	VERB
gujaf-367	128	5	that	that	SCONJ
gujaf-367	128	6	the	the	DET
gujaf-367	128	7	re	re	PROPN
gujaf-367	128	8	model	model	NOUN
gujaf-367	128	9	is	be	AUX
gujaf-367	128	10	appropriate	appropriate	ADJ
gujaf-367	128	11	for	for	ADP
gujaf-367	128	12	this	this	DET
gujaf-367	128	13	dataset	dataset	NOUN
gujaf-367	128	14	,	,	PUNCT
gujaf-367	128	15	further	far	ADV
gujaf-367	128	16	supporting	support	VERB
gujaf-367	128	17	the	the	DET
gujaf-367	128	18	robustness	robustness	NOUN
gujaf-367	128	19	of	of	ADP
gujaf-367	128	20	the	the	DET
gujaf-367	128	21	results	result	NOUN
gujaf-367	128	22	.	.	PUNCT
gujaf-367	129	1	table	table	NOUN
gujaf-367	129	2	5	5	NUM
gujaf-367	129	3	:	:	PUNCT
gujaf-367	129	4	main	main	ADJ
gujaf-367	129	5	estimation	estimation	NOUN
gujaf-367	129	6	results	result	VERB
gujaf-367	129	7	panel	panel	NOUN
gujaf-367	129	8	a	a	DET
gujaf-367	129	9	:	:	PUNCT
gujaf-367	129	10	estimation	estimation	NOUN
gujaf-367	129	11	variable	variable	ADJ
gujaf-367	129	12	random	random	ADJ
gujaf-367	129	13	effects	effect	NOUN
gujaf-367	129	14	interaction	interaction	NOUN
gujaf-367	129	15	(	(	PUNCT
gujaf-367	129	16	re	re	NOUN
gujaf-367	129	17	)	)	PUNCT
gujaf-367	129	18	fmols	fmol	VERB
gujaf-367	129	19	interaction	interaction	NOUN
gujaf-367	129	20	(	(	PUNCT
gujaf-367	129	21	fmols	fmol	NOUN
gujaf-367	129	22	)	)	PUNCT
gujaf-367	129	23	dgdpg(-1	dgdpg(-1	PROPN
gujaf-367	129	24	)	)	PUNCT
gujaf-367	129	25	-0.045	-0.045	PUNCT
gujaf-367	129	26	(	(	PUNCT
gujaf-367	129	27	0.010	0.010	NUM
gujaf-367	129	28	)	)	PUNCT
gujaf-367	129	29	-0.057	-0.057	PUNCT
gujaf-367	129	30	(	(	PUNCT
gujaf-367	129	31	0.029	0.029	NUM
gujaf-367	129	32	)	)	PUNCT
gujaf-367	129	33	-0.037	-0.037	PUNCT
gujaf-367	129	34	(	(	PUNCT
gujaf-367	129	35	0.003	0.003	NUM
gujaf-367	129	36	)	)	PUNCT
gujaf-367	129	37	-0.046	-0.046	NUM
gujaf-367	129	38	(	(	PUNCT
gujaf-367	129	39	0.007	0.007	NUM
gujaf-367	129	40	)	)	PUNCT
gujaf-367	130	1	dexdb	dexdb	ADJ
gujaf-367	130	2	-3.090	-3.090	NOUN
gujaf-367	130	3	(	(	PUNCT
gujaf-367	130	4	0.000	0.000	NUM
gujaf-367	130	5	)	)	PUNCT
gujaf-367	130	6	-2.530	-2.530	NOUN
gujaf-367	130	7	(	(	PUNCT
gujaf-367	130	8	0.000	0.000	NUM
gujaf-367	130	9	)	)	PUNCT
gujaf-367	130	10	dexds	dexds	NOUN
gujaf-367	130	11	4.040	4.040	NUM
gujaf-367	130	12	(	(	PUNCT
gujaf-367	130	13	0.000	0.000	NUM
gujaf-367	130	14	)	)	PUNCT
gujaf-367	130	15	3.760	3.760	NUM
gujaf-367	130	16	(	(	PUNCT
gujaf-367	130	17	0.000	0.000	X
gujaf-367	130	18	)	)	PUNCT
gujaf-367	130	19	exdb×exds	exdb×exds	NOUN
gujaf-367	130	20	1.640	1.640	NUM
gujaf-367	130	21	(	(	PUNCT
gujaf-367	130	22	0.070	0.070	NUM
gujaf-367	130	23	)	)	PUNCT
gujaf-367	130	24	2.640	2.640	NUM
gujaf-367	130	25	(	(	PUNCT
gujaf-367	130	26	0.000	0.000	NUM
gujaf-367	130	27	)	)	PUNCT
gujaf-367	130	28	empl	empl	NOUN
gujaf-367	130	29	10.557	10.557	NUM
gujaf-367	130	30	(	(	PUNCT
gujaf-367	130	31	0.000	0.000	NUM
gujaf-367	130	32	)	)	PUNCT
gujaf-367	130	33	12.635	12.635	NUM
gujaf-367	130	34	(	(	PUNCT
gujaf-367	130	35	0.004	0.004	NUM
gujaf-367	130	36	)	)	PUNCT
gujaf-367	130	37	13.759	13.759	NUM
gujaf-367	130	38	(	(	PUNCT
gujaf-367	130	39	0.000	0.000	NUM
gujaf-367	130	40	)	)	PUNCT
gujaf-367	130	41	16.904	16.904	NUM
gujaf-367	130	42	(	(	PUNCT
gujaf-367	130	43	0.000	0.000	NUM
gujaf-367	130	44	)	)	PUNCT
gujaf-367	130	45	gfcg	gfcg	NOUN
gujaf-367	130	46	0.242	0.242	NUM
gujaf-367	130	47	(	(	PUNCT
gujaf-367	130	48	0.000	0.000	NUM
gujaf-367	130	49	)	)	PUNCT
gujaf-367	130	50	-0.030	-0.030	PUNCT
gujaf-367	130	51	(	(	PUNCT
gujaf-367	130	52	0.497	0.497	NUM
gujaf-367	130	53	)	)	PUNCT
gujaf-367	130	54	1.012	1.012	NUM
gujaf-367	130	55	(	(	PUNCT
gujaf-367	130	56	0.000	0.000	NUM
gujaf-367	130	57	)	)	PUNCT
gujaf-367	130	58	0.021	0.021	NUM
gujaf-367	130	59	(	(	PUNCT
gujaf-367	130	60	0.444	0.444	NUM
gujaf-367	130	61	)	)	PUNCT
gujaf-367	130	62	fdi	fdi	PROPN
gujaf-367	130	63	/	/	SYM
gujaf-367	130	64	gdp	gdp	NOUN
gujaf-367	130	65	1.041	1.041	NUM
gujaf-367	130	66	(	(	PUNCT
gujaf-367	130	67	0.000	0.000	NUM
gujaf-367	130	68	)	)	PUNCT
gujaf-367	130	69	1.217	1.217	NUM
gujaf-367	130	70	(	(	PUNCT
gujaf-367	130	71	0.000	0.000	NUM
gujaf-367	130	72	)	)	PUNCT
gujaf-367	130	73	0.261	0.261	NUM
gujaf-367	130	74	(	(	PUNCT
gujaf-367	130	75	0.000	0.000	NUM
gujaf-367	130	76	)	)	PUNCT
gujaf-367	130	77	1.165	1.165	NUM
gujaf-367	130	78	(	(	PUNCT
gujaf-367	130	79	0.000	0.000	NUM
gujaf-367	130	80	)	)	PUNCT
gujaf-367	130	81	panel	panel	NOUN
gujaf-367	130	82	b	b	NOUN
gujaf-367	130	83	:	:	PUNCT
gujaf-367	130	84	model	model	NOUN
gujaf-367	130	85	diagnostics	diagnostic	NOUN
gujaf-367	130	86	metric	metric	ADJ
gujaf-367	130	87	re	re	NOUN
gujaf-367	130	88	model	model	NOUN
gujaf-367	130	89	re	re	ADP
gujaf-367	130	90	+	+	NOUN
gujaf-367	130	91	interaction	interaction	NOUN
gujaf-367	130	92	fmols	fmol	NOUN
gujaf-367	130	93	fmols	fmol	VERB
gujaf-367	130	94	+	+	CCONJ
gujaf-367	130	95	interaction	interaction	NOUN
gujaf-367	130	96	r	r	NOUN
gujaf-367	130	97	-	-	PUNCT
gujaf-367	130	98	squared	square	VERB
gujaf-367	130	99	0.810	0.810	NUM
gujaf-367	130	100	0.579	0.579	NUM
gujaf-367	130	101	0.792	0.792	NUM
gujaf-367	130	102	0.694	0.694	NUM
gujaf-367	130	103	adj	adj	NOUN
gujaf-367	130	104	.	.	PUNCT
gujaf-367	131	1	r	r	X
gujaf-367	131	2	-	-	PUNCT
gujaf-367	131	3	squared	square	VERB
gujaf-367	131	4	0.804	0.804	NUM
gujaf-367	131	5	0.567	0.567	NUM
gujaf-367	131	6	0.766	0.766	NUM
gujaf-367	131	7	0.658	0.658	NUM
gujaf-367	131	8	f	f	X
gujaf-367	131	9	-	-	PUNCT
gujaf-367	131	10	statistic	statistic	ADJ
gujaf-367	131	11	133.888	133.888	NUM
gujaf-367	131	12	51.906	51.906	NUM
gujaf-367	131	13	prob	prob	NOUN
gujaf-367	131	14	(	(	PUNCT
gujaf-367	131	15	f	f	NOUN
gujaf-367	131	16	-	-	PUNCT
gujaf-367	131	17	statistic	statistic	NOUN
gujaf-367	131	18	)	)	PUNCT
gujaf-367	131	19	0.000	0.000	NUM
gujaf-367	131	20	0.000	0.000	NUM
gujaf-367	131	21	durbin	durbin	ADJ
gujaf-367	131	22	-	-	PUNCT
gujaf-367	131	23	watson	watson	NOUN
gujaf-367	131	24	stat	stat	PROPN
gujaf-367	131	25	2.151	2.151	NUM
gujaf-367	131	26	2.278	2.278	NUM
gujaf-367	131	27	hausman	hausman	ADJ
gujaf-367	131	28	test	test	NOUN
gujaf-367	131	29	(	(	PUNCT
gujaf-367	131	30	p	p	NOUN
gujaf-367	131	31	)	)	PUNCT
gujaf-367	131	32	0.000	0.000	NUM
gujaf-367	131	33	0.000	0.000	NUM
gujaf-367	131	34	source	source	NOUN
gujaf-367	131	35	:	:	PUNCT
gujaf-367	131	36	author	author	NOUN
gujaf-367	131	37	(	(	PUNCT
gujaf-367	131	38	2025	2025	NUM
gujaf-367	131	39	)	)	PUNCT
gujaf-367	131	40	the	the	DET
gujaf-367	131	41	negative	negative	ADJ
gujaf-367	131	42	relationship	relationship	NOUN
gujaf-367	131	43	between	between	ADP
gujaf-367	131	44	external	external	ADJ
gujaf-367	131	45	debt	debt	NOUN
gujaf-367	131	46	(	(	PUNCT
gujaf-367	131	47	exdb	exdb	VERB
gujaf-367	131	48	)	)	PUNCT
gujaf-367	131	49	and	and	CCONJ
gujaf-367	131	50	gdp	gdp	NOUN
gujaf-367	131	51	growth	growth	NOUN
gujaf-367	131	52	(	(	PUNCT
gujaf-367	131	53	gdpg	gdpg	PROPN
gujaf-367	131	54	)	)	PUNCT
gujaf-367	131	55	observed	observe	VERB
gujaf-367	131	56	in	in	ADP
gujaf-367	131	57	the	the	DET
gujaf-367	131	58	study	study	NOUN
gujaf-367	131	59	suggests	suggest	VERB
gujaf-367	131	60	that	that	SCONJ
gujaf-367	131	61	rising	rise	VERB
gujaf-367	131	62	external	external	ADJ
gujaf-367	131	63	debt	debt	NOUN
gujaf-367	131	64	could	could	AUX
gujaf-367	131	65	hinder	hinder	VERB
gujaf-367	131	66	economic	economic	ADJ
gujaf-367	131	67	growth	growth	NOUN
gujaf-367	131	68	in	in	ADP
gujaf-367	131	69	the	the	DET
gujaf-367	131	70	ecowas	ecowas	PROPN
gujaf-367	131	71	region	region	NOUN
gujaf-367	131	72	.	.	PUNCT
gujaf-367	132	1	policymakers	policymaker	NOUN
gujaf-367	132	2	in	in	ADP
gujaf-367	132	3	these	these	DET
gujaf-367	132	4	countries	country	NOUN
gujaf-367	132	5	should	should	AUX
gujaf-367	132	6	prioritize	prioritize	VERB
gujaf-367	132	7	managing	manage	VERB
gujaf-367	132	8	external	external	ADJ
gujaf-367	132	9	debt	debt	NOUN
gujaf-367	132	10	levels	level	NOUN
gujaf-367	132	11	to	to	PART
gujaf-367	132	12	avoid	avoid	VERB
gujaf-367	132	13	detrimental	detrimental	ADJ
gujaf-367	132	14	effects	effect	NOUN
gujaf-367	132	15	on	on	ADP
gujaf-367	132	16	long	long	ADJ
gujaf-367	132	17	-	-	PUNCT
gujaf-367	132	18	term	term	NOUN
gujaf-367	132	19	economic	economic	ADJ
gujaf-367	132	20	stability	stability	NOUN
gujaf-367	132	21	.	.	PUNCT
gujaf-367	133	1	specifically	specifically	ADV
gujaf-367	133	2	,	,	PUNCT
gujaf-367	133	3	governments	government	NOUN
gujaf-367	133	4	should	should	AUX
gujaf-367	133	5	adopt	adopt	VERB
gujaf-367	133	6	prudent	prudent	ADJ
gujaf-367	133	7	debt	debt	NOUN
gujaf-367	133	8	management	management	NOUN
gujaf-367	133	9	strategies	strategy	NOUN
gujaf-367	133	10	,	,	PUNCT
gujaf-367	133	11	ensuring	ensure	VERB
gujaf-367	133	12	that	that	SCONJ
gujaf-367	133	13	borrowing	borrowing	NOUN
gujaf-367	133	14	is	be	AUX
gujaf-367	133	15	used	use	VERB
gujaf-367	133	16	efficiently	efficiently	ADV
gujaf-367	133	17	for	for	ADP
gujaf-367	133	18	investment	investment	NOUN
gujaf-367	133	19	in	in	ADP
gujaf-367	133	20	productive	productive	ADJ
gujaf-367	133	21	sectors	sector	NOUN
gujaf-367	133	22	,	,	PUNCT
gujaf-367	133	23	such	such	ADJ
gujaf-367	133	24	as	as	ADP
gujaf-367	133	25	infrastructure	infrastructure	NOUN
gujaf-367	133	26	,	,	PUNCT
gujaf-367	133	27	education	education	NOUN
gujaf-367	133	28	,	,	PUNCT
gujaf-367	133	29	and	and	CCONJ
gujaf-367	133	30	healthcare	healthcare	PROPN
gujaf-367	133	31	,	,	PUNCT
gujaf-367	133	32	which	which	PRON
gujaf-367	133	33	can	can	AUX
gujaf-367	133	34	generate	generate	VERB
gujaf-367	133	35	future	future	ADJ
gujaf-367	133	36	returns	return	NOUN
gujaf-367	133	37	.	.	PUNCT
gujaf-367	134	1	efforts	effort	NOUN
gujaf-367	134	2	to	to	PART
gujaf-367	134	3	diversify	diversify	VERB
gujaf-367	134	4	sources	source	NOUN
gujaf-367	134	5	of	of	ADP
gujaf-367	134	6	financing	financing	NOUN
gujaf-367	134	7	,	,	PUNCT
gujaf-367	134	8	such	such	ADJ
gujaf-367	134	9	as	as	ADP
gujaf-367	134	10	increasing	increase	VERB
gujaf-367	134	11	domestic	domestic	ADJ
gujaf-367	134	12	revenue	revenue	NOUN
gujaf-367	134	13	mobilization	mobilization	NOUN
gujaf-367	134	14	,	,	PUNCT
gujaf-367	134	15	could	could	AUX
gujaf-367	134	16	reduce	reduce	VERB
gujaf-367	134	17	reliance	reliance	NOUN
gujaf-367	134	18	on	on	ADP
gujaf-367	134	19	external	external	ADJ
gujaf-367	134	20	debt	debt	NOUN
gujaf-367	134	21	and	and	CCONJ
gujaf-367	134	22	mitigate	mitigate	VERB
gujaf-367	134	23	its	its	PRON
gujaf-367	134	24	negative	negative	ADJ
gujaf-367	134	25	impact	impact	NOUN
gujaf-367	134	26	on	on	ADP
gujaf-367	134	27	economic	economic	ADJ
gujaf-367	134	28	growth	growth	NOUN
gujaf-367	134	29	.	.	PUNCT
gujaf-367	135	1	furthermore	furthermore	ADV
gujaf-367	135	2	,	,	PUNCT
gujaf-367	135	3	efforts	effort	NOUN
gujaf-367	135	4	to	to	PART
gujaf-367	135	5	negotiate	negotiate	VERB
gujaf-367	135	6	favorable	favorable	ADJ
gujaf-367	135	7	debt	debt	NOUN
gujaf-367	135	8	terms	term	NOUN
gujaf-367	135	9	,	,	PUNCT
gujaf-367	135	10	including	include	VERB
gujaf-367	135	11	lower	low	ADJ
gujaf-367	135	12	interest	interest	NOUN
gujaf-367	135	13	rates	rate	NOUN
gujaf-367	135	14	and	and	CCONJ
gujaf-367	135	15	extended	extended	ADJ
gujaf-367	135	16	repayment	repayment	NOUN
gujaf-367	135	17	periods	period	NOUN
gujaf-367	135	18	,	,	PUNCT
gujaf-367	135	19	should	should	AUX
gujaf-367	135	20	be	be	AUX
gujaf-367	135	21	a	a	DET
gujaf-367	135	22	key	key	ADJ
gujaf-367	135	23	component	component	NOUN
gujaf-367	135	24	of	of	ADP
gujaf-367	135	25	debt	debt	NOUN
gujaf-367	135	26	management	management	NOUN
gujaf-367	135	27	strategies	strategy	NOUN
gujaf-367	135	28	.	.	PUNCT
gujaf-367	136	1	the	the	DET
gujaf-367	136	2	study	study	NOUN
gujaf-367	136	3	’s	’s	PART
gujaf-367	136	4	finding	find	VERB
gujaf-367	136	5	that	that	SCONJ
gujaf-367	136	6	external	external	ADJ
gujaf-367	136	7	debt	debt	NOUN
gujaf-367	136	8	service	service	NOUN
gujaf-367	136	9	(	(	PUNCT
gujaf-367	136	10	exds	exds	NOUN
gujaf-367	136	11	)	)	PUNCT
gujaf-367	136	12	positively	positively	ADV
gujaf-367	136	13	interacts	interact	VERB
gujaf-367	136	14	with	with	ADP
gujaf-367	136	15	external	external	ADJ
gujaf-367	136	16	debt	debt	NOUN
gujaf-367	136	17	(	(	PUNCT
gujaf-367	136	18	exdb	exdb	VERB
gujaf-367	136	19	)	)	PUNCT
gujaf-367	136	20	in	in	ADP
gujaf-367	136	21	the	the	DET
gujaf-367	136	22	long	long	ADJ
gujaf-367	136	23	run	run	NOUN
gujaf-367	136	24	underlines	underline	VERB
gujaf-367	136	25	the	the	DET
gujaf-367	136	26	importance	importance	NOUN
gujaf-367	136	27	of	of	ADP
gujaf-367	136	28	managing	manage	VERB
gujaf-367	136	29	both	both	DET
gujaf-367	136	30	variables	variable	NOUN
gujaf-367	136	31	together	together	ADV
gujaf-367	136	32	.	.	PUNCT
gujaf-367	137	1	while	while	SCONJ
gujaf-367	137	2	external	external	ADJ
gujaf-367	137	3	debt	debt	NOUN
gujaf-367	137	4	can	can	AUX
gujaf-367	137	5	provide	provide	VERB
gujaf-367	137	6	short	short	ADJ
gujaf-367	137	7	-	-	PUNCT
gujaf-367	137	8	term	term	NOUN
gujaf-367	137	9	financial	financial	ADJ
gujaf-367	137	10	relief	relief	NOUN
gujaf-367	137	11	,	,	PUNCT
gujaf-367	137	12	the	the	DET
gujaf-367	137	13	servicing	servicing	NOUN
gujaf-367	137	14	of	of	ADP
gujaf-367	137	15	this	this	DET
gujaf-367	137	16	debt	debt	NOUN
gujaf-367	137	17	can	can	AUX
gujaf-367	137	18	drain	drain	VERB
gujaf-367	137	19	public	public	ADJ
gujaf-367	137	20	resources	resource	NOUN
gujaf-367	137	21	and	and	CCONJ
gujaf-367	137	22	limit	limit	VERB
gujaf-367	137	23	the	the	DET
gujaf-367	137	24	government	government	NOUN
gujaf-367	137	25	's	's	PART
gujaf-367	137	26	capacity	capacity	NOUN
gujaf-367	137	27	to	to	PART
gujaf-367	137	28	invest	invest	VERB
gujaf-367	137	29	in	in	ADP
gujaf-367	137	30	development	development	NOUN
gujaf-367	137	31	projects	project	NOUN
gujaf-367	137	32	.	.	PUNCT
gujaf-367	138	1	policymakers	policymaker	NOUN
gujaf-367	138	2	must	must	AUX
gujaf-367	138	3	seek	seek	VERB
gujaf-367	138	4	to	to	PART
gujaf-367	138	5	balance	balance	VERB
gujaf-367	138	6	external	external	ADJ
gujaf-367	138	7	debt	debt	NOUN
gujaf-367	138	8	accumulation	accumulation	NOUN
gujaf-367	138	9	with	with	ADP
gujaf-367	138	10	the	the	DET
gujaf-367	138	11	ability	ability	NOUN
gujaf-367	138	12	to	to	PART
gujaf-367	138	13	service	service	VERB
gujaf-367	138	14	it	it	PRON
gujaf-367	138	15	without	without	ADP
gujaf-367	138	16	sacrificing	sacrifice	VERB
gujaf-367	138	17	critical	critical	ADJ
gujaf-367	138	18	public	public	ADJ
gujaf-367	138	19	spending	spending	NOUN
gujaf-367	138	20	.	.	PUNCT
gujaf-367	139	1	this	this	PRON
gujaf-367	139	2	could	could	AUX
gujaf-367	139	3	involve	involve	VERB
gujaf-367	139	4	renegotiating	renegotiate	VERB
gujaf-367	139	5	terms	term	NOUN
gujaf-367	139	6	with	with	ADP
gujaf-367	139	7	creditors	creditor	NOUN
gujaf-367	139	8	to	to	PART
gujaf-367	139	9	achieve	achieve	VERB
gujaf-367	139	10	more	more	ADV
gujaf-367	139	11	sustainable	sustainable	ADJ
gujaf-367	139	12	debt	debt	NOUN
gujaf-367	139	13	service	service	NOUN
gujaf-367	139	14	ratios	ratio	NOUN
gujaf-367	139	15	and	and	CCONJ
gujaf-367	139	16	exploring	explore	VERB
gujaf-367	139	17	debt	debt	NOUN
gujaf-367	139	18	forgiveness	forgiveness	NOUN
gujaf-367	139	19	or	or	CCONJ
gujaf-367	139	20	restructuring	restructuring	NOUN
gujaf-367	139	21	options	option	NOUN
gujaf-367	139	22	when	when	SCONJ
gujaf-367	139	23	necessary	necessary	ADJ
gujaf-367	139	24	.	.	PUNCT
gujaf-367	140	1	additionally	additionally	ADV
gujaf-367	140	2	,	,	PUNCT
gujaf-367	140	3	fostering	foster	VERB
gujaf-367	140	4	economic	economic	ADJ
gujaf-367	140	5	diversification	diversification	NOUN
gujaf-367	140	6	could	could	AUX
gujaf-367	140	7	provide	provide	VERB
gujaf-367	140	8	the	the	DET
gujaf-367	140	9	government	government	NOUN
gujaf-367	140	10	with	with	ADP
gujaf-367	140	11	more	more	ADV
gujaf-367	140	12	robust	robust	ADJ
gujaf-367	140	13	and	and	CCONJ
gujaf-367	140	14	stable	stable	ADJ
gujaf-367	140	15	revenue	revenue	NOUN
gujaf-367	140	16	streams	stream	NOUN
gujaf-367	140	17	,	,	PUNCT
gujaf-367	140	18	which	which	PRON
gujaf-367	140	19	can	can	AUX
gujaf-367	140	20	alleviate	alleviate	VERB
gujaf-367	140	21	the	the	DET
gujaf-367	140	22	burden	burden	NOUN
gujaf-367	140	23	of	of	ADP
gujaf-367	140	24	external	external	ADJ
gujaf-367	140	25	debt	debt	NOUN
gujaf-367	140	26	service	service	NOUN
gujaf-367	140	27	.	.	PUNCT
gujaf-367	141	1	the	the	DET
gujaf-367	141	2	positive	positive	ADJ
gujaf-367	141	3	association	association	NOUN
gujaf-367	141	4	between	between	ADP
gujaf-367	141	5	employment	employment	NOUN
gujaf-367	141	6	(	(	PUNCT
gujaf-367	141	7	empl	empl	PROPN
gujaf-367	141	8	)	)	PUNCT
gujaf-367	141	9	and	and	CCONJ
gujaf-367	141	10	gdp	gdp	NOUN
gujaf-367	141	11	growth	growth	NOUN
gujaf-367	141	12	in	in	ADP
gujaf-367	141	13	the	the	DET
gujaf-367	141	14	study	study	NOUN
gujaf-367	141	15	highlights	highlight	VERB
gujaf-367	141	16	the	the	DET
gujaf-367	141	17	importance	importance	NOUN
gujaf-367	141	18	of	of	ADP
gujaf-367	141	19	employment	employment	NOUN
gujaf-367	141	20	generation	generation	NOUN
gujaf-367	141	21	as	as	ADP
gujaf-367	141	22	a	a	DET
gujaf-367	141	23	key	key	ADJ
gujaf-367	141	24	driver	driver	NOUN
gujaf-367	141	25	of	of	ADP
gujaf-367	141	26	economic	economic	ADJ
gujaf-367	141	27	growth	growth	NOUN
gujaf-367	141	28	.	.	PUNCT
gujaf-367	142	1	governments	government	NOUN
gujaf-367	142	2	should	should	AUX
gujaf-367	142	3	therefore	therefore	ADV
gujaf-367	142	4	focus	focus	VERB
gujaf-367	142	5	on	on	ADP
gujaf-367	142	6	policies	policy	NOUN
gujaf-367	142	7	that	that	PRON
gujaf-367	142	8	promote	promote	VERB
gujaf-367	142	9	job	job	NOUN
gujaf-367	142	10	creation	creation	NOUN
gujaf-367	142	11	,	,	PUNCT
gujaf-367	142	12	particularly	particularly	ADV
gujaf-367	142	13	in	in	ADP
gujaf-367	142	14	sectors	sector	NOUN
gujaf-367	142	15	with	with	ADP
gujaf-367	142	16	high	high	ADJ
gujaf-367	142	17	growth	growth	NOUN
gujaf-367	142	18	potential	potential	NOUN
gujaf-367	142	19	,	,	PUNCT
gujaf-367	142	20	such	such	ADJ
gujaf-367	142	21	as	as	ADP
gujaf-367	142	22	agriculture	agriculture	NOUN
gujaf-367	142	23	,	,	PUNCT
gujaf-367	142	24	manufacturing	manufacturing	NOUN
gujaf-367	142	25	,	,	PUNCT
gujaf-367	142	26	and	and	CCONJ
gujaf-367	142	27	services	service	NOUN
gujaf-367	142	28	.	.	PUNCT
gujaf-367	143	1	investment	investment	NOUN
gujaf-367	143	2	in	in	ADP
gujaf-367	143	3	skills	skill	NOUN
gujaf-367	143	4	gusau	gusau	ADJ
gujaf-367	143	5	journal	journal	NOUN
gujaf-367	143	6	of	of	ADP
gujaf-367	143	7	accounting	accounting	NOUN
gujaf-367	143	8	and	and	CCONJ
gujaf-367	143	9	finance	finance	NOUN
gujaf-367	143	10	,	,	PUNCT
gujaf-367	143	11	vol.6	vol.6	PROPN
gujaf-367	143	12	,	,	PUNCT
gujaf-367	143	13	issue	issue	NOUN
gujaf-367	143	14	1	1	NUM
gujaf-367	143	15	,	,	PUNCT
gujaf-367	143	16	april	april	PROPN
gujaf-367	143	17	,	,	PUNCT
gujaf-367	143	18	2025	2025	NUM
gujaf-367	143	19	58	58	NUM
gujaf-367	143	20	development	development	NOUN
gujaf-367	143	21	and	and	CCONJ
gujaf-367	143	22	vocational	vocational	ADJ
gujaf-367	143	23	training	training	NOUN
gujaf-367	143	24	is	be	AUX
gujaf-367	143	25	crucial	crucial	ADJ
gujaf-367	143	26	for	for	ADP
gujaf-367	143	27	equipping	equip	VERB
gujaf-367	143	28	the	the	DET
gujaf-367	143	29	workforce	workforce	NOUN
gujaf-367	143	30	with	with	ADP
gujaf-367	143	31	the	the	DET
gujaf-367	143	32	necessary	necessary	ADJ
gujaf-367	143	33	skills	skill	NOUN
gujaf-367	143	34	to	to	PART
gujaf-367	143	35	thrive	thrive	VERB
gujaf-367	143	36	in	in	ADP
gujaf-367	143	37	emerging	emerge	VERB
gujaf-367	143	38	industries	industry	NOUN
gujaf-367	143	39	.	.	PUNCT
gujaf-367	144	1	moreover	moreover	ADV
gujaf-367	144	2	,	,	PUNCT
gujaf-367	144	3	promoting	promote	VERB
gujaf-367	144	4	labor	labor	NOUN
gujaf-367	144	5	market	market	NOUN
gujaf-367	144	6	flexibility	flexibility	NOUN
gujaf-367	144	7	and	and	CCONJ
gujaf-367	144	8	improving	improve	VERB
gujaf-367	144	9	the	the	DET
gujaf-367	144	10	ease	ease	NOUN
gujaf-367	144	11	of	of	ADP
gujaf-367	144	12	doing	do	VERB
gujaf-367	144	13	business	business	NOUN
gujaf-367	144	14	could	could	AUX
gujaf-367	144	15	attract	attract	VERB
gujaf-367	144	16	both	both	CCONJ
gujaf-367	144	17	domestic	domestic	ADJ
gujaf-367	144	18	and	and	CCONJ
gujaf-367	144	19	foreign	foreign	ADJ
gujaf-367	144	20	investment	investment	NOUN
gujaf-367	144	21	,	,	PUNCT
gujaf-367	144	22	further	far	ADV
gujaf-367	144	23	boosting	boost	VERB
gujaf-367	144	24	employment	employment	NOUN
gujaf-367	144	25	opportunities	opportunity	NOUN
gujaf-367	144	26	.	.	PUNCT
gujaf-367	145	1	policymakers	policymaker	NOUN
gujaf-367	145	2	should	should	AUX
gujaf-367	145	3	aim	aim	VERB
gujaf-367	145	4	for	for	ADP
gujaf-367	145	5	inclusive	inclusive	ADJ
gujaf-367	145	6	growth	growth	NOUN
gujaf-367	145	7	by	by	ADP
gujaf-367	145	8	ensuring	ensure	VERB
gujaf-367	145	9	that	that	SCONJ
gujaf-367	145	10	employment	employment	NOUN
gujaf-367	145	11	opportunities	opportunity	NOUN
gujaf-367	145	12	are	be	AUX
gujaf-367	145	13	accessible	accessible	ADJ
gujaf-367	145	14	to	to	ADP
gujaf-367	145	15	all	all	DET
gujaf-367	145	16	segments	segment	NOUN
gujaf-367	145	17	of	of	ADP
gujaf-367	145	18	the	the	DET
gujaf-367	145	19	population	population	NOUN
gujaf-367	145	20	,	,	PUNCT
gujaf-367	145	21	including	include	VERB
gujaf-367	145	22	vulnerable	vulnerable	ADJ
gujaf-367	145	23	groups	group	NOUN
gujaf-367	145	24	such	such	ADJ
gujaf-367	145	25	as	as	ADP
gujaf-367	145	26	women	woman	NOUN
gujaf-367	145	27	and	and	CCONJ
gujaf-367	145	28	youth	youth	NOUN
gujaf-367	145	29	.	.	PUNCT
gujaf-367	146	1	the	the	DET
gujaf-367	146	2	positive	positive	ADJ
gujaf-367	146	3	relationship	relationship	NOUN
gujaf-367	146	4	between	between	ADP
gujaf-367	146	5	gross	gross	ADJ
gujaf-367	146	6	fixed	fix	VERB
gujaf-367	146	7	capital	capital	NOUN
gujaf-367	146	8	formation	formation	NOUN
gujaf-367	146	9	(	(	PUNCT
gujaf-367	146	10	gfcg	gfcg	NOUN
gujaf-367	146	11	)	)	PUNCT
gujaf-367	146	12	and	and	CCONJ
gujaf-367	146	13	gdp	gdp	NOUN
gujaf-367	146	14	growth	growth	NOUN
gujaf-367	146	15	in	in	ADP
gujaf-367	146	16	the	the	DET
gujaf-367	146	17	study	study	NOUN
gujaf-367	146	18	suggests	suggest	VERB
gujaf-367	146	19	that	that	SCONJ
gujaf-367	146	20	investment	investment	NOUN
gujaf-367	146	21	in	in	ADP
gujaf-367	146	22	physical	physical	ADJ
gujaf-367	146	23	capital	capital	NOUN
gujaf-367	146	24	is	be	AUX
gujaf-367	146	25	a	a	DET
gujaf-367	146	26	key	key	ADJ
gujaf-367	146	27	factor	factor	NOUN
gujaf-367	146	28	for	for	ADP
gujaf-367	146	29	fostering	foster	VERB
gujaf-367	146	30	economic	economic	ADJ
gujaf-367	146	31	growth	growth	NOUN
gujaf-367	146	32	.	.	PUNCT
gujaf-367	147	1	policymakers	policymaker	NOUN
gujaf-367	147	2	should	should	AUX
gujaf-367	147	3	implement	implement	VERB
gujaf-367	147	4	policies	policy	NOUN
gujaf-367	147	5	that	that	PRON
gujaf-367	147	6	incentivize	incentivize	VERB
gujaf-367	147	7	both	both	CCONJ
gujaf-367	147	8	domestic	domestic	ADJ
gujaf-367	147	9	and	and	CCONJ
gujaf-367	147	10	foreign	foreign	ADJ
gujaf-367	147	11	investment	investment	NOUN
gujaf-367	147	12	in	in	ADP
gujaf-367	147	13	infrastructure	infrastructure	NOUN
gujaf-367	147	14	and	and	CCONJ
gujaf-367	147	15	productive	productive	ADJ
gujaf-367	147	16	assets	asset	NOUN
gujaf-367	147	17	.	.	PUNCT
gujaf-367	148	1	this	this	PRON
gujaf-367	148	2	can	can	AUX
gujaf-367	148	3	include	include	VERB
gujaf-367	148	4	offering	offer	VERB
gujaf-367	148	5	tax	tax	NOUN
gujaf-367	148	6	breaks	break	NOUN
gujaf-367	148	7	or	or	CCONJ
gujaf-367	148	8	subsidies	subsidy	NOUN
gujaf-367	148	9	for	for	ADP
gujaf-367	148	10	capital	capital	NOUN
gujaf-367	148	11	investments	investment	NOUN
gujaf-367	148	12	in	in	ADP
gujaf-367	148	13	strategic	strategic	ADJ
gujaf-367	148	14	sectors	sector	NOUN
gujaf-367	148	15	,	,	PUNCT
gujaf-367	148	16	such	such	ADJ
gujaf-367	148	17	as	as	ADP
gujaf-367	148	18	renewable	renewable	ADJ
gujaf-367	148	19	energy	energy	NOUN
gujaf-367	148	20	,	,	PUNCT
gujaf-367	148	21	transportation	transportation	NOUN
gujaf-367	148	22	,	,	PUNCT
gujaf-367	148	23	and	and	CCONJ
gujaf-367	148	24	technology	technology	NOUN
gujaf-367	148	25	.	.	PUNCT
gujaf-367	149	1	additionally	additionally	ADV
gujaf-367	149	2	,	,	PUNCT
gujaf-367	149	3	the	the	DET
gujaf-367	149	4	study	study	NOUN
gujaf-367	149	5	indicates	indicate	VERB
gujaf-367	149	6	that	that	SCONJ
gujaf-367	149	7	foreign	foreign	ADJ
gujaf-367	149	8	direct	direct	ADJ
gujaf-367	149	9	investment	investment	NOUN
gujaf-367	149	10	(	(	PUNCT
gujaf-367	149	11	fdi	fdi	PROPN
gujaf-367	149	12	/	/	SYM
gujaf-367	149	13	gdp	gdp	NOUN
gujaf-367	149	14	)	)	PUNCT
gujaf-367	149	15	plays	play	VERB
gujaf-367	149	16	a	a	DET
gujaf-367	149	17	significant	significant	ADJ
gujaf-367	149	18	role	role	NOUN
gujaf-367	149	19	in	in	ADP
gujaf-367	149	20	driving	drive	VERB
gujaf-367	149	21	economic	economic	ADJ
gujaf-367	149	22	growth	growth	NOUN
gujaf-367	149	23	,	,	PUNCT
gujaf-367	149	24	which	which	PRON
gujaf-367	149	25	underscores	underscore	VERB
gujaf-367	149	26	the	the	DET
gujaf-367	149	27	importance	importance	NOUN
gujaf-367	149	28	of	of	ADP
gujaf-367	149	29	creating	create	VERB
gujaf-367	149	30	an	an	DET
gujaf-367	149	31	attractive	attractive	ADJ
gujaf-367	149	32	investment	investment	NOUN
gujaf-367	149	33	climate	climate	NOUN
gujaf-367	149	34	.	.	PUNCT
gujaf-367	150	1	to	to	PART
gujaf-367	150	2	attract	attract	VERB
gujaf-367	150	3	more	more	ADJ
gujaf-367	150	4	fdi	fdi	NOUN
gujaf-367	150	5	,	,	PUNCT
gujaf-367	150	6	governments	government	NOUN
gujaf-367	150	7	should	should	AUX
gujaf-367	150	8	focus	focus	VERB
gujaf-367	150	9	on	on	ADP
gujaf-367	150	10	improving	improve	VERB
gujaf-367	150	11	governance	governance	NOUN
gujaf-367	150	12	,	,	PUNCT
gujaf-367	150	13	ensuring	ensure	VERB
gujaf-367	150	14	political	political	ADJ
gujaf-367	150	15	stability	stability	NOUN
gujaf-367	150	16	,	,	PUNCT
gujaf-367	150	17	reducing	reduce	VERB
gujaf-367	150	18	corruption	corruption	NOUN
gujaf-367	150	19	,	,	PUNCT
gujaf-367	150	20	and	and	CCONJ
gujaf-367	150	21	creating	create	VERB
gujaf-367	150	22	a	a	DET
gujaf-367	150	23	favorable	favorable	ADJ
gujaf-367	150	24	regulatory	regulatory	ADJ
gujaf-367	150	25	environment	environment	NOUN
gujaf-367	150	26	.	.	PUNCT
gujaf-367	151	1	public	public	ADJ
gujaf-367	151	2	-	-	PUNCT
gujaf-367	151	3	private	private	ADJ
gujaf-367	151	4	partnerships	partnership	NOUN
gujaf-367	151	5	can	can	AUX
gujaf-367	151	6	also	also	ADV
gujaf-367	151	7	play	play	VERB
gujaf-367	151	8	a	a	DET
gujaf-367	151	9	critical	critical	ADJ
gujaf-367	151	10	role	role	NOUN
gujaf-367	151	11	in	in	ADP
gujaf-367	151	12	channeling	channel	VERB
gujaf-367	151	13	fdi	fdi	NOUN
gujaf-367	151	14	into	into	ADP
gujaf-367	151	15	vital	vital	ADJ
gujaf-367	151	16	sectors	sector	NOUN
gujaf-367	151	17	that	that	PRON
gujaf-367	151	18	will	will	AUX
gujaf-367	151	19	drive	drive	VERB
gujaf-367	151	20	long	long	ADJ
gujaf-367	151	21	-	-	PUNCT
gujaf-367	151	22	term	term	NOUN
gujaf-367	151	23	economic	economic	ADJ
gujaf-367	151	24	development	development	NOUN
gujaf-367	151	25	.	.	PUNCT
gujaf-367	152	1	finally	finally	ADV
gujaf-367	152	2	,	,	PUNCT
gujaf-367	152	3	the	the	DET
gujaf-367	152	4	findings	finding	NOUN
gujaf-367	152	5	from	from	ADP
gujaf-367	152	6	this	this	DET
gujaf-367	152	7	study	study	NOUN
gujaf-367	152	8	point	point	NOUN
gujaf-367	152	9	to	to	ADP
gujaf-367	152	10	the	the	DET
gujaf-367	152	11	need	need	NOUN
gujaf-367	152	12	for	for	ADP
gujaf-367	152	13	a	a	DET
gujaf-367	152	14	coordinated	coordinated	ADJ
gujaf-367	152	15	approach	approach	NOUN
gujaf-367	152	16	to	to	ADP
gujaf-367	152	17	managing	manage	VERB
gujaf-367	152	18	external	external	ADJ
gujaf-367	152	19	debt	debt	NOUN
gujaf-367	152	20	,	,	PUNCT
gujaf-367	152	21	debt	debt	NOUN
gujaf-367	152	22	service	service	NOUN
gujaf-367	152	23	,	,	PUNCT
gujaf-367	152	24	employment	employment	NOUN
gujaf-367	152	25	,	,	PUNCT
gujaf-367	152	26	and	and	CCONJ
gujaf-367	152	27	investment	investment	NOUN
gujaf-367	152	28	.	.	PUNCT
gujaf-367	153	1	a	a	DET
gujaf-367	153	2	long	long	ADJ
gujaf-367	153	3	-	-	PUNCT
gujaf-367	153	4	term	term	NOUN
gujaf-367	153	5	policy	policy	NOUN
gujaf-367	153	6	framework	framework	NOUN
gujaf-367	153	7	that	that	PRON
gujaf-367	153	8	integrates	integrate	VERB
gujaf-367	153	9	these	these	DET
gujaf-367	153	10	variables	variable	NOUN
gujaf-367	153	11	is	be	AUX
gujaf-367	153	12	essential	essential	ADJ
gujaf-367	153	13	for	for	ADP
gujaf-367	153	14	sustainable	sustainable	ADJ
gujaf-367	153	15	development	development	NOUN
gujaf-367	153	16	in	in	ADP
gujaf-367	153	17	the	the	DET
gujaf-367	153	18	ecowas	ecowas	PROPN
gujaf-367	153	19	region	region	NOUN
gujaf-367	153	20	.	.	PUNCT
gujaf-367	154	1	governments	government	NOUN
gujaf-367	154	2	should	should	AUX
gujaf-367	154	3	work	work	VERB
gujaf-367	154	4	closely	closely	ADV
gujaf-367	154	5	with	with	ADP
gujaf-367	154	6	international	international	ADJ
gujaf-367	154	7	financial	financial	ADJ
gujaf-367	154	8	institutions	institution	NOUN
gujaf-367	154	9	to	to	PART
gujaf-367	154	10	design	design	VERB
gujaf-367	154	11	comprehensive	comprehensive	ADJ
gujaf-367	154	12	economic	economic	ADJ
gujaf-367	154	13	policies	policy	NOUN
gujaf-367	154	14	that	that	PRON
gujaf-367	154	15	promote	promote	VERB
gujaf-367	154	16	macroeconomic	macroeconomic	ADJ
gujaf-367	154	17	stability	stability	NOUN
gujaf-367	154	18	,	,	PUNCT
gujaf-367	154	19	investment	investment	NOUN
gujaf-367	154	20	,	,	PUNCT
gujaf-367	154	21	and	and	CCONJ
gujaf-367	154	22	job	job	NOUN
gujaf-367	154	23	creation	creation	NOUN
gujaf-367	154	24	while	while	SCONJ
gujaf-367	154	25	ensuring	ensure	VERB
gujaf-367	154	26	that	that	SCONJ
gujaf-367	154	27	debt	debt	NOUN
gujaf-367	154	28	levels	level	NOUN
gujaf-367	154	29	remain	remain	VERB
gujaf-367	154	30	manageable	manageable	ADJ
gujaf-367	154	31	.	.	PUNCT
gujaf-367	155	1	additionally	additionally	ADV
gujaf-367	155	2	,	,	PUNCT
gujaf-367	155	3	regional	regional	ADJ
gujaf-367	155	4	cooperation	cooperation	NOUN
gujaf-367	155	5	among	among	ADP
gujaf-367	155	6	ecowas	ecowas	PROPN
gujaf-367	155	7	member	member	NOUN
gujaf-367	155	8	states	state	NOUN
gujaf-367	155	9	could	could	AUX
gujaf-367	155	10	enhance	enhance	VERB
gujaf-367	155	11	the	the	DET
gujaf-367	155	12	effectiveness	effectiveness	NOUN
gujaf-367	155	13	of	of	ADP
gujaf-367	155	14	debt	debt	NOUN
gujaf-367	155	15	management	management	NOUN
gujaf-367	155	16	strategies	strategy	NOUN
gujaf-367	155	17	,	,	PUNCT
gujaf-367	155	18	facilitate	facilitate	VERB
gujaf-367	155	19	cross	cross	ADJ
gujaf-367	155	20	-	-	ADJ
gujaf-367	155	21	border	border	ADJ
gujaf-367	155	22	investments	investment	NOUN
gujaf-367	155	23	,	,	PUNCT
gujaf-367	155	24	and	and	CCONJ
gujaf-367	155	25	foster	foster	ADJ
gujaf-367	155	26	economic	economic	ADJ
gujaf-367	155	27	integration	integration	NOUN
gujaf-367	155	28	,	,	PUNCT
gujaf-367	155	29	which	which	PRON
gujaf-367	155	30	would	would	AUX
gujaf-367	155	31	ultimately	ultimately	ADV
gujaf-367	155	32	contribute	contribute	VERB
gujaf-367	155	33	to	to	ADP
gujaf-367	155	34	the	the	DET
gujaf-367	155	35	region	region	NOUN
gujaf-367	155	36	's	's	PART
gujaf-367	155	37	growth	growth	NOUN
gujaf-367	155	38	and	and	CCONJ
gujaf-367	155	39	development	development	NOUN
gujaf-367	155	40	.	.	PUNCT
gujaf-367	156	1	5.0	5.0	NUM
gujaf-367	156	2	conclusion	conclusion	NOUN
gujaf-367	156	3	and	and	CCONJ
gujaf-367	156	4	recommendation	recommendation	NOUN
gujaf-367	156	5	this	this	DET
gujaf-367	156	6	study	study	NOUN
gujaf-367	156	7	provides	provide	VERB
gujaf-367	156	8	an	an	DET
gujaf-367	156	9	in	in	ADP
gujaf-367	156	10	-	-	PUNCT
gujaf-367	156	11	depth	depth	NOUN
gujaf-367	156	12	analysis	analysis	NOUN
gujaf-367	156	13	of	of	ADP
gujaf-367	156	14	the	the	DET
gujaf-367	156	15	relationship	relationship	NOUN
gujaf-367	156	16	between	between	ADP
gujaf-367	156	17	external	external	ADJ
gujaf-367	156	18	debt	debt	NOUN
gujaf-367	156	19	,	,	PUNCT
gujaf-367	156	20	external	external	ADJ
gujaf-367	156	21	debt	debt	NOUN
gujaf-367	156	22	servicing	servicing	NOUN
gujaf-367	156	23	,	,	PUNCT
gujaf-367	156	24	employment	employment	NOUN
gujaf-367	156	25	,	,	PUNCT
gujaf-367	156	26	and	and	CCONJ
gujaf-367	156	27	economic	economic	ADJ
gujaf-367	156	28	growth	growth	NOUN
gujaf-367	156	29	in	in	ADP
gujaf-367	156	30	the	the	DET
gujaf-367	156	31	ecowas	ecowas	PROPN
gujaf-367	156	32	region	region	NOUN
gujaf-367	156	33	,	,	PUNCT
gujaf-367	156	34	revealing	reveal	VERB
gujaf-367	156	35	several	several	ADJ
gujaf-367	156	36	critical	critical	ADJ
gujaf-367	156	37	insights	insight	NOUN
gujaf-367	156	38	for	for	ADP
gujaf-367	156	39	policymakers	policymaker	NOUN
gujaf-367	156	40	.	.	PUNCT
gujaf-367	157	1	the	the	DET
gujaf-367	157	2	results	result	NOUN
gujaf-367	157	3	show	show	VERB
gujaf-367	157	4	that	that	SCONJ
gujaf-367	157	5	external	external	ADJ
gujaf-367	157	6	debt	debt	NOUN
gujaf-367	157	7	has	have	VERB
gujaf-367	157	8	a	a	DET
gujaf-367	157	9	negative	negative	ADJ
gujaf-367	157	10	impact	impact	NOUN
gujaf-367	157	11	on	on	ADP
gujaf-367	157	12	gdp	gdp	NOUN
gujaf-367	157	13	growth	growth	NOUN
gujaf-367	157	14	,	,	PUNCT
gujaf-367	157	15	indicating	indicate	VERB
gujaf-367	157	16	that	that	SCONJ
gujaf-367	157	17	excessive	excessive	ADJ
gujaf-367	157	18	reliance	reliance	NOUN
gujaf-367	157	19	on	on	ADP
gujaf-367	157	20	external	external	ADJ
gujaf-367	157	21	borrowing	borrowing	NOUN
gujaf-367	157	22	may	may	AUX
gujaf-367	157	23	undermine	undermine	VERB
gujaf-367	157	24	long	long	ADJ
gujaf-367	157	25	-	-	PUNCT
gujaf-367	157	26	term	term	NOUN
gujaf-367	157	27	economic	economic	ADJ
gujaf-367	157	28	sustainability	sustainability	NOUN
gujaf-367	157	29	(	(	PUNCT
gujaf-367	157	30	kouadio	kouadio	NOUN
gujaf-367	157	31	&	&	CCONJ
gujaf-367	157	32	akinmoladun	akinmoladun	PROPN
gujaf-367	157	33	,	,	PUNCT
gujaf-367	157	34	2023	2023	NUM
gujaf-367	157	35	)	)	PUNCT
gujaf-367	157	36	.	.	PUNCT
gujaf-367	158	1	furthermore	furthermore	ADV
gujaf-367	158	2	,	,	PUNCT
gujaf-367	158	3	the	the	DET
gujaf-367	158	4	interaction	interaction	NOUN
gujaf-367	158	5	between	between	ADP
gujaf-367	158	6	external	external	ADJ
gujaf-367	158	7	debt	debt	NOUN
gujaf-367	158	8	and	and	CCONJ
gujaf-367	158	9	debt	debt	NOUN
gujaf-367	158	10	servicing	servicing	NOUN
gujaf-367	158	11	is	be	AUX
gujaf-367	158	12	significant	significant	ADJ
gujaf-367	158	13	,	,	PUNCT
gujaf-367	158	14	highlighting	highlight	VERB
gujaf-367	158	15	the	the	DET
gujaf-367	158	16	importance	importance	NOUN
gujaf-367	158	17	of	of	ADP
gujaf-367	158	18	managing	manage	VERB
gujaf-367	158	19	both	both	DET
gujaf-367	158	20	variables	variable	NOUN
gujaf-367	158	21	carefully	carefully	ADV
gujaf-367	158	22	to	to	PART
gujaf-367	158	23	avoid	avoid	VERB
gujaf-367	158	24	negative	negative	ADJ
gujaf-367	158	25	consequences	consequence	NOUN
gujaf-367	158	26	for	for	ADP
gujaf-367	158	27	growth	growth	NOUN
gujaf-367	158	28	(	(	PUNCT
gujaf-367	158	29	ibrahim	ibrahim	NOUN
gujaf-367	158	30	et	et	PROPN
gujaf-367	158	31	al	al	PROPN
gujaf-367	158	32	.	.	PROPN
gujaf-367	158	33	,	,	PUNCT
gujaf-367	158	34	2021	2021	NUM
gujaf-367	158	35	)	)	PUNCT
gujaf-367	158	36	.	.	PUNCT
gujaf-367	159	1	additionally	additionally	ADV
gujaf-367	159	2	,	,	PUNCT
gujaf-367	159	3	the	the	DET
gujaf-367	159	4	positive	positive	ADJ
gujaf-367	159	5	relationship	relationship	NOUN
gujaf-367	159	6	between	between	ADP
gujaf-367	159	7	employment	employment	NOUN
gujaf-367	159	8	and	and	CCONJ
gujaf-367	159	9	gdp	gdp	NOUN
gujaf-367	159	10	growth	growth	NOUN
gujaf-367	159	11	underscores	underscore	VERB
gujaf-367	159	12	the	the	DET
gujaf-367	159	13	importance	importance	NOUN
gujaf-367	159	14	of	of	ADP
gujaf-367	159	15	creating	create	VERB
gujaf-367	159	16	jobs	job	NOUN
gujaf-367	159	17	to	to	PART
gujaf-367	159	18	stimulate	stimulate	VERB
gujaf-367	159	19	economic	economic	ADJ
gujaf-367	159	20	activity	activity	NOUN
gujaf-367	159	21	and	and	CCONJ
gujaf-367	159	22	improve	improve	VERB
gujaf-367	159	23	living	living	NOUN
gujaf-367	159	24	standards	standard	NOUN
gujaf-367	159	25	(	(	PUNCT
gujaf-367	159	26	ogunjimi	ogunjimi	PROPN
gujaf-367	159	27	&	&	CCONJ
gujaf-367	159	28	adefolalu	adefolalu	PROPN
gujaf-367	159	29	,	,	PUNCT
gujaf-367	159	30	2022	2022	NUM
gujaf-367	159	31	)	)	PUNCT
gujaf-367	159	32	.	.	PUNCT
gujaf-367	160	1	investment	investment	NOUN
gujaf-367	160	2	in	in	ADP
gujaf-367	160	3	both	both	PRON
gujaf-367	160	4	physical	physical	ADJ
gujaf-367	160	5	capital	capital	NOUN
gujaf-367	160	6	and	and	CCONJ
gujaf-367	160	7	human	human	ADJ
gujaf-367	160	8	capital	capital	NOUN
gujaf-367	160	9	is	be	AUX
gujaf-367	160	10	crucial	crucial	ADJ
gujaf-367	160	11	for	for	ADP
gujaf-367	160	12	fostering	foster	VERB
gujaf-367	160	13	productivity	productivity	NOUN
gujaf-367	160	14	and	and	CCONJ
gujaf-367	160	15	economic	economic	ADJ
gujaf-367	160	16	resilience	resilience	NOUN
gujaf-367	160	17	(	(	PUNCT
gujaf-367	160	18	adebayo	adebayo	PROPN
gujaf-367	160	19	&	&	CCONJ
gujaf-367	160	20	bakare	bakare	PROPN
gujaf-367	160	21	,	,	PUNCT
gujaf-367	160	22	2020	2020	NUM
gujaf-367	160	23	)	)	PUNCT
gujaf-367	160	24	.	.	PUNCT
gujaf-367	161	1	the	the	DET
gujaf-367	161	2	study	study	NOUN
gujaf-367	161	3	also	also	ADV
gujaf-367	161	4	finds	find	VERB
gujaf-367	161	5	that	that	SCONJ
gujaf-367	161	6	foreign	foreign	ADJ
gujaf-367	161	7	direct	direct	ADJ
gujaf-367	161	8	investment	investment	NOUN
gujaf-367	161	9	(	(	PUNCT
gujaf-367	161	10	fdi	fdi	NOUN
gujaf-367	161	11	)	)	PUNCT
gujaf-367	161	12	plays	play	VERB
gujaf-367	161	13	an	an	DET
gujaf-367	161	14	essential	essential	ADJ
gujaf-367	161	15	role	role	NOUN
gujaf-367	161	16	in	in	ADP
gujaf-367	161	17	driving	drive	VERB
gujaf-367	161	18	growth	growth	NOUN
gujaf-367	161	19	,	,	PUNCT
gujaf-367	161	20	supporting	support	VERB
gujaf-367	161	21	previous	previous	ADJ
gujaf-367	161	22	literature	literature	NOUN
gujaf-367	161	23	on	on	ADP
gujaf-367	161	24	the	the	DET
gujaf-367	161	25	importance	importance	NOUN
gujaf-367	161	26	of	of	ADP
gujaf-367	161	27	fdi	fdi	NOUN
gujaf-367	161	28	in	in	ADP
gujaf-367	161	29	developing	develop	VERB
gujaf-367	161	30	economies	economy	NOUN
gujaf-367	161	31	(	(	PUNCT
gujaf-367	161	32	olayemi	olayemi	NOUN
gujaf-367	161	33	&	&	CCONJ
gujaf-367	161	34	adebiyi	adebiyi	NOUN
gujaf-367	161	35	,	,	PUNCT
gujaf-367	161	36	2024	2024	NUM
gujaf-367	161	37	)	)	PUNCT
gujaf-367	161	38	.	.	PUNCT
gujaf-367	162	1	gusau	gusau	PROPN
gujaf-367	162	2	journal	journal	PROPN
gujaf-367	162	3	of	of	ADP
gujaf-367	162	4	accounting	accounting	NOUN
gujaf-367	162	5	and	and	CCONJ
gujaf-367	162	6	finance	finance	NOUN
gujaf-367	162	7	,	,	PUNCT
gujaf-367	162	8	vol.6	vol.6	PROPN
gujaf-367	162	9	,	,	PUNCT
gujaf-367	162	10	issue	issue	NOUN
gujaf-367	162	11	1	1	NUM
gujaf-367	162	12	,	,	PUNCT
gujaf-367	162	13	april	april	PROPN
gujaf-367	162	14	,	,	PUNCT
gujaf-367	162	15	2025	2025	NUM
gujaf-367	162	16	59	59	NUM
gujaf-367	162	17	in	in	ADP
gujaf-367	162	18	conclusion	conclusion	NOUN
gujaf-367	162	19	,	,	PUNCT
gujaf-367	162	20	the	the	DET
gujaf-367	162	21	findings	finding	NOUN
gujaf-367	162	22	of	of	ADP
gujaf-367	162	23	this	this	DET
gujaf-367	162	24	study	study	NOUN
gujaf-367	162	25	suggest	suggest	VERB
gujaf-367	162	26	that	that	SCONJ
gujaf-367	162	27	ecowas	ecowas	PROPN
gujaf-367	162	28	countries	country	NOUN
gujaf-367	162	29	must	must	AUX
gujaf-367	162	30	prioritize	prioritize	VERB
gujaf-367	162	31	sound	sound	ADJ
gujaf-367	162	32	debt	debt	NOUN
gujaf-367	162	33	management	management	NOUN
gujaf-367	162	34	,	,	PUNCT
gujaf-367	162	35	foster	foster	ADJ
gujaf-367	162	36	job	job	NOUN
gujaf-367	162	37	creation	creation	NOUN
gujaf-367	162	38	,	,	PUNCT
gujaf-367	162	39	and	and	CCONJ
gujaf-367	162	40	encourage	encourage	VERB
gujaf-367	162	41	both	both	DET
gujaf-367	162	42	domestic	domestic	ADJ
gujaf-367	162	43	and	and	CCONJ
gujaf-367	162	44	foreign	foreign	ADJ
gujaf-367	162	45	investments	investment	NOUN
gujaf-367	162	46	to	to	PART
gujaf-367	162	47	sustain	sustain	VERB
gujaf-367	162	48	long	long	ADJ
gujaf-367	162	49	-	-	PUNCT
gujaf-367	162	50	term	term	NOUN
gujaf-367	162	51	growth	growth	NOUN
gujaf-367	162	52	.	.	PUNCT
gujaf-367	163	1	by	by	ADP
gujaf-367	163	2	integrating	integrate	VERB
gujaf-367	163	3	these	these	DET
gujaf-367	163	4	elements	element	NOUN
gujaf-367	163	5	into	into	ADP
gujaf-367	163	6	their	their	PRON
gujaf-367	163	7	policy	policy	NOUN
gujaf-367	163	8	frameworks	framework	NOUN
gujaf-367	163	9	,	,	PUNCT
gujaf-367	163	10	ecowas	ecowas	PROPN
gujaf-367	163	11	nations	nation	NOUN
gujaf-367	163	12	can	can	AUX
gujaf-367	163	13	better	well	ADV
gujaf-367	163	14	navigate	navigate	VERB
gujaf-367	163	15	the	the	DET
gujaf-367	163	16	challenges	challenge	NOUN
gujaf-367	163	17	posed	pose	VERB
gujaf-367	163	18	by	by	ADP
gujaf-367	163	19	external	external	ADJ
gujaf-367	163	20	debt	debt	NOUN
gujaf-367	163	21	and	and	CCONJ
gujaf-367	163	22	ensure	ensure	VERB
gujaf-367	163	23	more	more	ADV
gujaf-367	163	24	stable	stable	ADJ
gujaf-367	163	25	and	and	CCONJ
gujaf-367	163	26	inclusive	inclusive	ADJ
gujaf-367	163	27	economic	economic	ADJ
gujaf-367	163	28	development	development	NOUN
gujaf-367	163	29	moving	move	VERB
gujaf-367	163	30	forward	forward	ADV
gujaf-367	163	31	.	.	PUNCT
gujaf-367	164	1	these	these	DET
gujaf-367	164	2	results	result	NOUN
gujaf-367	164	3	contribute	contribute	VERB
gujaf-367	164	4	to	to	ADP
gujaf-367	164	5	the	the	DET
gujaf-367	164	6	growing	grow	VERB
gujaf-367	164	7	body	body	NOUN
gujaf-367	164	8	of	of	ADP
gujaf-367	164	9	literature	literature	NOUN
gujaf-367	164	10	on	on	ADP
gujaf-367	164	11	debt	debt	NOUN
gujaf-367	164	12	management	management	NOUN
gujaf-367	164	13	and	and	CCONJ
gujaf-367	164	14	economic	economic	ADJ
gujaf-367	164	15	growth	growth	NOUN
gujaf-367	164	16	in	in	ADP
gujaf-367	164	17	sub	sub	ADJ
gujaf-367	164	18	-	-	ADJ
gujaf-367	164	19	saharan	saharan	ADJ
gujaf-367	164	20	africa	africa	PROPN
gujaf-367	164	21	,	,	PUNCT
gujaf-367	164	22	offering	offer	VERB
gujaf-367	164	23	valuable	valuable	ADJ
gujaf-367	164	24	policy	policy	NOUN
gujaf-367	164	25	implications	implication	NOUN
gujaf-367	164	26	for	for	ADP
gujaf-367	164	27	the	the	DET
gujaf-367	164	28	region	region	NOUN
gujaf-367	164	29	's	's	PART
gujaf-367	164	30	future	future	ADJ
gujaf-367	164	31	development	development	NOUN
gujaf-367	164	32	(	(	PUNCT
gujaf-367	164	33	oluwaseun	oluwaseun	PROPN
gujaf-367	164	34	&	&	CCONJ
gujaf-367	164	35	oyebanji	oyebanji	PROPN
gujaf-367	164	36	,	,	PUNCT
gujaf-367	164	37	2023	2023	NUM
gujaf-367	164	38	)	)	PUNCT
gujaf-367	164	39	.	.	PUNCT
gujaf-367	165	1	references	reference	NOUN
gujaf-367	165	2	addison	addison	PROPN
gujaf-367	165	3	,	,	PUNCT
gujaf-367	165	4	t.	t.	PROPN
gujaf-367	165	5	,	,	PUNCT
gujaf-367	165	6	&	&	CCONJ
gujaf-367	165	7	miers	miers	PROPN
gujaf-367	165	8	,	,	PUNCT
gujaf-367	165	9	m.	m.	NOUN
gujaf-367	165	10	(	(	PUNCT
gujaf-367	165	11	2022	2022	NUM
gujaf-367	165	12	)	)	PUNCT
gujaf-367	165	13	.	.	PUNCT
gujaf-367	166	1	debt	debt	NOUN
gujaf-367	166	2	,	,	PUNCT
gujaf-367	166	3	development	development	NOUN
gujaf-367	166	4	,	,	PUNCT
gujaf-367	166	5	and	and	CCONJ
gujaf-367	166	6	sustainability	sustainability	NOUN
gujaf-367	166	7	in	in	ADP
gujaf-367	166	8	sub	sub	ADJ
gujaf-367	166	9	-	-	ADJ
gujaf-367	166	10	saharan	saharan	ADJ
gujaf-367	166	11	africa	africa	PROPN
gujaf-367	166	12	:	:	PUNCT
gujaf-367	166	13	the	the	DET
gujaf-367	166	14	role	role	NOUN
gujaf-367	166	15	of	of	ADP
gujaf-367	166	16	external	external	ADJ
gujaf-367	166	17	debt	debt	NOUN
gujaf-367	166	18	in	in	ADP
gujaf-367	166	19	economic	economic	ADJ
gujaf-367	166	20	growth	growth	NOUN
gujaf-367	166	21	.	.	PUNCT
gujaf-367	167	1	african	african	ADJ
gujaf-367	167	2	development	development	PROPN
gujaf-367	167	3	review	review	PROPN
gujaf-367	167	4	,	,	PUNCT
gujaf-367	167	5	34(2	34(2	NUM
gujaf-367	167	6	)	)	PUNCT
gujaf-367	167	7	,	,	PUNCT
gujaf-367	167	8	179192	179192	NUM
gujaf-367	167	9	.	.	PUNCT
gujaf-367	168	1	adebayo	adebayo	PROPN
gujaf-367	168	2	,	,	PUNCT
gujaf-367	168	3	a.	a.	PROPN
gujaf-367	168	4	,	,	PUNCT
gujaf-367	168	5	&	&	CCONJ
gujaf-367	168	6	olayinka	olayinka	PROPN
gujaf-367	168	7	,	,	PUNCT
gujaf-367	168	8	m.	m.	NOUN
gujaf-367	168	9	(	(	PUNCT
gujaf-367	168	10	2022	2022	NUM
gujaf-367	168	11	)	)	PUNCT
gujaf-367	168	12	.	.	PUNCT
gujaf-367	169	1	the	the	DET
gujaf-367	169	2	impact	impact	NOUN
gujaf-367	169	3	of	of	ADP
gujaf-367	169	4	external	external	ADJ
gujaf-367	169	5	debt	debt	NOUN
gujaf-367	169	6	on	on	ADP
gujaf-367	169	7	economic	economic	ADJ
gujaf-367	169	8	growth	growth	NOUN
gujaf-367	169	9	:	:	PUNCT
gujaf-367	169	10	evidence	evidence	NOUN
gujaf-367	169	11	from	from	ADP
gujaf-367	169	12	ecowas	ecowas	PROPN
gujaf-367	169	13	.	.	PUNCT
gujaf-367	170	1	african	african	ADJ
gujaf-367	170	2	journal	journal	PROPN
gujaf-367	170	3	of	of	ADP
gujaf-367	170	4	economic	economic	ADJ
gujaf-367	170	5	studies	study	NOUN
gujaf-367	170	6	,	,	PUNCT
gujaf-367	170	7	34(2	34(2	NUM
gujaf-367	170	8	)	)	PUNCT
gujaf-367	170	9	,	,	PUNCT
gujaf-367	170	10	103	103	NUM
gujaf-367	170	11	-	-	SYM
gujaf-367	170	12	120	120	NUM
gujaf-367	170	13	afolabi	afolabi	NOUN
gujaf-367	170	14	,	,	PUNCT
gujaf-367	170	15	o.	o.	NOUN
gujaf-367	170	16	,	,	PUNCT
gujaf-367	170	17	&	&	CCONJ
gujaf-367	170	18	oladipo	oladipo	PROPN
gujaf-367	170	19	,	,	PUNCT
gujaf-367	170	20	d.	d.	PROPN
gujaf-367	170	21	(	(	PUNCT
gujaf-367	170	22	2023	2023	NUM
gujaf-367	170	23	)	)	PUNCT
gujaf-367	170	24	.	.	PUNCT
gujaf-367	171	1	external	external	ADJ
gujaf-367	171	2	debt	debt	NOUN
gujaf-367	171	3	and	and	CCONJ
gujaf-367	171	4	economic	economic	ADJ
gujaf-367	171	5	growth	growth	NOUN
gujaf-367	171	6	in	in	ADP
gujaf-367	171	7	west	west	PROPN
gujaf-367	171	8	africa	africa	PROPN
gujaf-367	171	9	:	:	PUNCT
gujaf-367	171	10	an	an	DET
gujaf-367	171	11	empirical	empirical	ADJ
gujaf-367	171	12	analysis	analysis	NOUN
gujaf-367	171	13	.	.	PUNCT
gujaf-367	172	1	african	african	ADJ
gujaf-367	172	2	economic	economic	ADJ
gujaf-367	172	3	policy	policy	NOUN
gujaf-367	172	4	review	review	NOUN
gujaf-367	172	5	,	,	PUNCT
gujaf-367	172	6	31(1	31(1	NUM
gujaf-367	172	7	)	)	PUNCT
gujaf-367	172	8	,	,	PUNCT
gujaf-367	172	9	45	45	NUM
gujaf-367	172	10	-	-	SYM
gujaf-367	172	11	62	62	NUM
gujaf-367	172	12	.	.	PUNCT
gujaf-367	173	1	afolabi	afolabi	NOUN
gujaf-367	173	2	,	,	PUNCT
gujaf-367	173	3	t.	t.	PROPN
gujaf-367	173	4	,	,	PUNCT
gujaf-367	173	5	&	&	CCONJ
gujaf-367	173	6	okwu	okwu	PROPN
gujaf-367	173	7	,	,	PUNCT
gujaf-367	173	8	a.	a.	NOUN
gujaf-367	173	9	(	(	PUNCT
gujaf-367	173	10	2023	2023	NUM
gujaf-367	173	11	)	)	PUNCT
gujaf-367	173	12	.	.	PUNCT
gujaf-367	174	1	debt	debt	NOUN
gujaf-367	174	2	,	,	PUNCT
gujaf-367	174	3	growth	growth	NOUN
gujaf-367	174	4	,	,	PUNCT
gujaf-367	174	5	and	and	CCONJ
gujaf-367	174	6	investment	investment	NOUN
gujaf-367	174	7	in	in	ADP
gujaf-367	174	8	sub	sub	ADJ
gujaf-367	174	9	-	-	ADJ
gujaf-367	174	10	saharan	saharan	ADJ
gujaf-367	174	11	africa	africa	PROPN
gujaf-367	174	12	:	:	PUNCT
gujaf-367	174	13	the	the	DET
gujaf-367	174	14	ecowas	ecowas	PROPN
gujaf-367	174	15	experience	experience	NOUN
gujaf-367	174	16	.	.	PUNCT
gujaf-367	175	1	international	international	ADJ
gujaf-367	175	2	review	review	NOUN
gujaf-367	175	3	of	of	ADP
gujaf-367	175	4	financial	financial	ADJ
gujaf-367	175	5	economics	economic	NOUN
gujaf-367	175	6	,	,	PUNCT
gujaf-367	175	7	45	45	NUM
gujaf-367	175	8	,	,	PUNCT
gujaf-367	175	9	55	55	NUM
gujaf-367	175	10	-	-	SYM
gujaf-367	175	11	71	71	NUM
gujaf-367	175	12	.	.	PUNCT
gujaf-367	176	1	akinmoladun	akinmoladun	PROPN
gujaf-367	176	2	,	,	PUNCT
gujaf-367	176	3	f.	f.	PROPN
gujaf-367	176	4	,	,	PUNCT
gujaf-367	176	5	adeniran	adeniran	VERB
gujaf-367	176	6	,	,	PUNCT
gujaf-367	176	7	o.	o.	PROPN
gujaf-367	176	8	,	,	PUNCT
gujaf-367	176	9	&	&	CCONJ
gujaf-367	176	10	adeyemi	adeyemi	ADV
gujaf-367	176	11	,	,	PUNCT
gujaf-367	176	12	o.	o.	PROPN
gujaf-367	176	13	(	(	PUNCT
gujaf-367	176	14	2022	2022	NUM
gujaf-367	176	15	)	)	PUNCT
gujaf-367	176	16	.	.	PUNCT
gujaf-367	177	1	debt	debt	NOUN
gujaf-367	177	2	servicing	servicing	NOUN
gujaf-367	177	3	,	,	PUNCT
gujaf-367	177	4	governance	governance	NOUN
gujaf-367	177	5	,	,	PUNCT
gujaf-367	177	6	and	and	CCONJ
gujaf-367	177	7	growth	growth	NOUN
gujaf-367	177	8	in	in	ADP
gujaf-367	177	9	sub	sub	ADJ
gujaf-367	177	10	-	-	ADJ
gujaf-367	177	11	saharan	saharan	ADJ
gujaf-367	177	12	africa	africa	PROPN
gujaf-367	177	13	:	:	PUNCT
gujaf-367	177	14	a	a	DET
gujaf-367	177	15	dynamic	dynamic	ADJ
gujaf-367	177	16	panel	panel	NOUN
gujaf-367	177	17	approach	approach	NOUN
gujaf-367	177	18	.	.	PUNCT
gujaf-367	178	1	journal	journal	NOUN
gujaf-367	178	2	of	of	ADP
gujaf-367	178	3	economic	economic	ADJ
gujaf-367	178	4	development	development	NOUN
gujaf-367	178	5	,	,	PUNCT
gujaf-367	178	6	29(4	29(4	NOUN
gujaf-367	178	7	)	)	PUNCT
gujaf-367	178	8	,	,	PUNCT
gujaf-367	178	9	551	551	NUM
gujaf-367	178	10	-	-	SYM
gujaf-367	178	11	569	569	NUM
gujaf-367	178	12	.	.	PUNCT
gujaf-367	178	13	ali	ali	PROPN
gujaf-367	178	14	,	,	PUNCT
gujaf-367	178	15	j.	j.	PROPN
gujaf-367	178	16	,	,	PUNCT
gujaf-367	178	17	farooq	farooq	PROPN
gujaf-367	178	18	,	,	PUNCT
gujaf-367	178	19	m.	m.	NOUN
gujaf-367	178	20	,	,	PUNCT
gujaf-367	178	21	&	&	CCONJ
gujaf-367	178	22	hussain	hussain	PROPN
gujaf-367	178	23	,	,	PUNCT
gujaf-367	178	24	r.	r.	PROPN
gujaf-367	178	25	(	(	PUNCT
gujaf-367	178	26	2023	2023	NUM
gujaf-367	178	27	)	)	PUNCT
gujaf-367	178	28	.	.	PUNCT
gujaf-367	179	1	the	the	DET
gujaf-367	179	2	effect	effect	NOUN
gujaf-367	179	3	of	of	ADP
gujaf-367	179	4	external	external	ADJ
gujaf-367	179	5	debt	debt	NOUN
gujaf-367	179	6	on	on	ADP
gujaf-367	179	7	economic	economic	ADJ
gujaf-367	179	8	growth	growth	NOUN
gujaf-367	179	9	in	in	ADP
gujaf-367	179	10	developing	develop	VERB
gujaf-367	179	11	countries	country	NOUN
gujaf-367	179	12	:	:	PUNCT
gujaf-367	179	13	a	a	DET
gujaf-367	179	14	panel	panel	NOUN
gujaf-367	179	15	data	data	VERB
gujaf-367	179	16	analysis	analysis	NOUN
gujaf-367	179	17	.	.	PUNCT
gujaf-367	180	1	journal	journal	PROPN
gujaf-367	180	2	of	of	ADP
gujaf-367	180	3	development	development	NOUN
gujaf-367	180	4	economics	economic	NOUN
gujaf-367	180	5	,	,	PUNCT
gujaf-367	180	6	72(1	72(1	NOUN
gujaf-367	180	7	)	)	PUNCT
gujaf-367	180	8	,	,	PUNCT
gujaf-367	180	9	56	56	NUM
gujaf-367	180	10	-	-	SYM
gujaf-367	180	11	72	72	NUM
gujaf-367	180	12	.	.	PUNCT
gujaf-367	181	1	ali	ali	PROPN
gujaf-367	181	2	,	,	PUNCT
gujaf-367	181	3	r.	r.	PROPN
gujaf-367	181	4	&	&	CCONJ
gujaf-367	181	5	mustapha	mustapha	PROPN
gujaf-367	181	6	,	,	PUNCT
gujaf-367	181	7	u.	u.	PROPN
gujaf-367	181	8	(	(	PUNCT
gujaf-367	181	9	2012	2012	NUM
gujaf-367	181	10	)	)	PUNCT
gujaf-367	181	11	.	.	PUNCT
gujaf-367	182	1	external	external	ADJ
gujaf-367	182	2	debt	debt	NOUN
gujaf-367	182	3	accumulation	accumulation	NOUN
gujaf-367	182	4	and	and	CCONJ
gujaf-367	182	5	its	its	PRON
gujaf-367	182	6	impact	impact	NOUN
gujaf-367	182	7	on	on	ADP
gujaf-367	182	8	growth	growth	NOUN
gujaf-367	182	9	in	in	ADP
gujaf-367	182	10	pakistan	pakistan	PROPN
gujaf-367	182	11	.	.	PUNCT
gujaf-367	183	1	pakistan	pakistan	PROPN
gujaf-367	183	2	development	development	PROPN
gujaf-367	183	3	review	review	PROPN
gujaf-367	183	4	,	,	PUNCT
gujaf-367	183	5	79	79	NUM
gujaf-367	183	6	-	-	SYM
gujaf-367	183	7	96	96	NUM
gujaf-367	183	8	.	.	PUNCT
gujaf-367	184	1	anifowose	anifowose	PROPN
gujaf-367	184	2	,	,	PUNCT
gujaf-367	184	3	o.l	o.l	PROPN
gujaf-367	184	4	.	.	PROPN
gujaf-367	184	5	(	(	PUNCT
gujaf-367	184	6	2016	2016	NUM
gujaf-367	184	7	)	)	PUNCT
gujaf-367	184	8	.	.	PUNCT
gujaf-367	185	1	impact	impact	NOUN
gujaf-367	185	2	of	of	ADP
gujaf-367	185	3	external	external	ADJ
gujaf-367	185	4	debt	debt	NOUN
gujaf-367	185	5	and	and	CCONJ
gujaf-367	185	6	debt	debt	NOUN
gujaf-367	185	7	servicing	servicing	NOUN
gujaf-367	185	8	on	on	ADP
gujaf-367	185	9	some	some	DET
gujaf-367	185	10	ecowas	ecowas	PROPN
gujaf-367	185	11	countries	country	NOUN
gujaf-367	185	12	economic	economic	ADJ
gujaf-367	185	13	growth	growth	NOUN
gujaf-367	185	14	.	.	PUNCT
gujaf-367	186	1	elixir	elixir	NOUN
gujaf-367	186	2	financial	financial	ADJ
gujaf-367	186	3	management	management	NOUN
gujaf-367	186	4	,	,	PUNCT
gujaf-367	186	5	91	91	NUM
gujaf-367	186	6	,	,	PUNCT
gujaf-367	186	7	38247	38247	NUM
gujaf-367	186	8	-	-	SYM
gujaf-367	186	9	38251	38251	NUM
gujaf-367	186	10	.	.	PUNCT
gujaf-367	187	1	arezki	arezki	PROPN
gujaf-367	187	2	,	,	PUNCT
gujaf-367	187	3	r.	r.	PROPN
gujaf-367	187	4	,	,	PUNCT
gujaf-367	187	5	goyette	goyette	NOUN
gujaf-367	187	6	,	,	PUNCT
gujaf-367	187	7	l.	l.	PROPN
gujaf-367	187	8	,	,	PUNCT
gujaf-367	187	9	&	&	CCONJ
gujaf-367	187	10	nguyen	nguyen	PROPN
gujaf-367	187	11	,	,	PUNCT
gujaf-367	187	12	h.	h.	PROPN
gujaf-367	187	13	(	(	PUNCT
gujaf-367	187	14	2021	2021	NUM
gujaf-367	187	15	)	)	PUNCT
gujaf-367	187	16	.	.	PUNCT
gujaf-367	188	1	debt	debt	NOUN
gujaf-367	188	2	and	and	CCONJ
gujaf-367	188	3	economic	economic	ADJ
gujaf-367	188	4	growth	growth	NOUN
gujaf-367	188	5	:	:	PUNCT
gujaf-367	188	6	the	the	DET
gujaf-367	188	7	role	role	NOUN
gujaf-367	188	8	of	of	ADP
gujaf-367	188	9	institutions	institution	NOUN
gujaf-367	188	10	and	and	CCONJ
gujaf-367	188	11	debt	debt	NOUN
gujaf-367	188	12	composition	composition	NOUN
gujaf-367	188	13	.	.	PUNCT
gujaf-367	189	1	world	world	NOUN
gujaf-367	189	2	development	development	PROPN
gujaf-367	189	3	,	,	PUNCT
gujaf-367	189	4	134	134	NUM
gujaf-367	189	5	,	,	PUNCT
gujaf-367	189	6	105	105	NUM
gujaf-367	189	7	-	-	SYM
gujaf-367	189	8	121	121	NUM
gujaf-367	189	9	.	.	PUNCT
gujaf-367	190	1	babatunde	babatunde	NOUN
gujaf-367	190	2	,	,	PUNCT
gujaf-367	190	3	m.	m.	NOUN
gujaf-367	190	4	,	,	PUNCT
gujaf-367	190	5	&	&	CCONJ
gujaf-367	190	6	akintoye	akintoye	PROPN
gujaf-367	190	7	,	,	PUNCT
gujaf-367	190	8	i.	i.	PROPN
gujaf-367	190	9	(	(	PUNCT
gujaf-367	190	10	2023	2023	NUM
gujaf-367	190	11	)	)	PUNCT
gujaf-367	190	12	.	.	PUNCT
gujaf-367	191	1	debt	debt	NOUN
gujaf-367	191	2	sustainability	sustainability	NOUN
gujaf-367	191	3	and	and	CCONJ
gujaf-367	191	4	economic	economic	ADJ
gujaf-367	191	5	performance	performance	NOUN
gujaf-367	191	6	:	:	PUNCT
gujaf-367	191	7	evidence	evidence	NOUN
gujaf-367	191	8	from	from	ADP
gujaf-367	191	9	africa	africa	PROPN
gujaf-367	191	10	’s	’s	PART
gujaf-367	191	11	economic	economic	ADJ
gujaf-367	191	12	communities	community	NOUN
gujaf-367	191	13	.	.	PUNCT
gujaf-367	192	1	journal	journal	PROPN
gujaf-367	192	2	of	of	ADP
gujaf-367	192	3	international	international	ADJ
gujaf-367	192	4	economics	economic	NOUN
gujaf-367	192	5	,	,	PUNCT
gujaf-367	192	6	98(2	98(2	NOUN
gujaf-367	192	7	)	)	PUNCT
gujaf-367	192	8	,	,	PUNCT
gujaf-367	192	9	225239	225239	NUM
gujaf-367	192	10	.	.	PUNCT
gujaf-367	193	1	bakare	bakare	PROPN
gujaf-367	193	2	,	,	PUNCT
gujaf-367	193	3	r.	r.	PROPN
gujaf-367	193	4	,	,	PUNCT
gujaf-367	193	5	ogunleye	ogunleye	PROPN
gujaf-367	193	6	,	,	PUNCT
gujaf-367	193	7	b.	b.	PROPN
gujaf-367	193	8	,	,	PUNCT
gujaf-367	193	9	&	&	CCONJ
gujaf-367	193	10	ilori	ilori	PROPN
gujaf-367	193	11	,	,	PUNCT
gujaf-367	193	12	s.	s.	PROPN
gujaf-367	193	13	(	(	PUNCT
gujaf-367	193	14	2023	2023	NUM
gujaf-367	193	15	)	)	PUNCT
gujaf-367	193	16	.	.	PUNCT
gujaf-367	194	1	debt	debt	NOUN
gujaf-367	194	2	overhang	overhang	NOUN
gujaf-367	194	3	and	and	CCONJ
gujaf-367	194	4	economic	economic	ADJ
gujaf-367	194	5	growth	growth	NOUN
gujaf-367	194	6	in	in	ADP
gujaf-367	194	7	sub	sub	ADJ
gujaf-367	194	8	-	-	ADJ
gujaf-367	194	9	saharan	saharan	ADJ
gujaf-367	194	10	africa	africa	PROPN
gujaf-367	194	11	:	:	PUNCT
gujaf-367	194	12	a	a	DET
gujaf-367	194	13	systematic	systematic	ADJ
gujaf-367	194	14	review	review	NOUN
gujaf-367	194	15	of	of	ADP
gujaf-367	194	16	empirical	empirical	ADJ
gujaf-367	194	17	studies	study	NOUN
gujaf-367	194	18	.	.	PUNCT
gujaf-367	195	1	review	review	NOUN
gujaf-367	195	2	of	of	ADP
gujaf-367	195	3	african	african	ADJ
gujaf-367	195	4	political	political	ADJ
gujaf-367	195	5	economy	economy	NOUN
gujaf-367	195	6	,	,	PUNCT
gujaf-367	195	7	50(177	50(177	PROPN
gujaf-367	195	8	)	)	PUNCT
gujaf-367	195	9	,	,	PUNCT
gujaf-367	195	10	42	42	NUM
gujaf-367	195	11	-	-	SYM
gujaf-367	195	12	63	63	NUM
gujaf-367	195	13	.	.	PUNCT
gujaf-367	196	1	claessens	claessen	NOUN
gujaf-367	196	2	,	,	PUNCT
gujaf-367	196	3	s.	s.	PROPN
gujaf-367	196	4	,	,	PUNCT
gujaf-367	196	5	detragiache	detragiache	PROPN
gujaf-367	196	6	e.	e.	PROPN
gujaf-367	196	7	,	,	PUNCT
gujaf-367	196	8	kanbur	kanbur	PROPN
gujaf-367	196	9	,	,	PUNCT
gujaf-367	196	10	r.	r.	PROPN
gujaf-367	196	11	&	&	CCONJ
gujaf-367	196	12	wickham	wickham	PROPN
gujaf-367	196	13	,	,	PUNCT
gujaf-367	196	14	p.	p.	NOUN
gujaf-367	196	15	(	(	PUNCT
gujaf-367	196	16	1996	1996	NUM
gujaf-367	196	17	)	)	PUNCT
gujaf-367	196	18	.	.	PUNCT
gujaf-367	197	1	analytical	analytical	ADJ
gujaf-367	197	2	aspects	aspect	NOUN
gujaf-367	197	3	of	of	ADP
gujaf-367	197	4	the	the	DET
gujaf-367	197	5	debt	debt	NOUN
gujaf-367	197	6	problems	problem	NOUN
gujaf-367	197	7	of	of	ADP
gujaf-367	197	8	heavily	heavily	ADV
gujaf-367	197	9	indebted	indebted	ADJ
gujaf-367	197	10	poor	poor	ADJ
gujaf-367	197	11	countries	country	NOUN
gujaf-367	197	12	.	.	PUNCT
gujaf-367	198	1	policy	policy	NOUN
gujaf-367	198	2	research	research	NOUN
gujaf-367	198	3	working	working	NOUN
gujaf-367	198	4	paper	paper	NOUN
gujaf-367	198	5	,	,	PUNCT
gujaf-367	198	6	1618	1618	NUM
gujaf-367	198	7	,	,	PUNCT
gujaf-367	198	8	world	world	PROPN
gujaf-367	198	9	bank	bank	PROPN
gujaf-367	198	10	,	,	PUNCT
gujaf-367	198	11	washington	washington	PROPN
gujaf-367	198	12	d.c	d.c	PROPN
gujaf-367	198	13	.	.	PUNCT
gujaf-367	199	1	gusau	gusau	PROPN
gujaf-367	199	2	journal	journal	PROPN
gujaf-367	199	3	of	of	ADP
gujaf-367	199	4	accounting	accounting	NOUN
gujaf-367	199	5	and	and	CCONJ
gujaf-367	199	6	finance	finance	NOUN
gujaf-367	199	7	,	,	PUNCT
gujaf-367	199	8	vol.6	vol.6	PROPN
gujaf-367	199	9	,	,	PUNCT
gujaf-367	199	10	issue	issue	NOUN
gujaf-367	199	11	1	1	NUM
gujaf-367	199	12	,	,	PUNCT
gujaf-367	199	13	april	april	PROPN
gujaf-367	199	14	,	,	PUNCT
gujaf-367	199	15	2025	2025	NUM
gujaf-367	199	16	60	60	NUM
gujaf-367	199	17	cohen	cohen	PROPN
gujaf-367	199	18	,	,	PUNCT
gujaf-367	199	19	d.	d.	PROPN
gujaf-367	199	20	(	(	PUNCT
gujaf-367	199	21	2021	2021	NUM
gujaf-367	199	22	)	)	PUNCT
gujaf-367	199	23	.	.	PUNCT
gujaf-367	200	1	the	the	DET
gujaf-367	200	2	role	role	NOUN
gujaf-367	200	3	of	of	ADP
gujaf-367	200	4	external	external	ADJ
gujaf-367	200	5	debt	debt	NOUN
gujaf-367	200	6	in	in	ADP
gujaf-367	200	7	african	african	ADJ
gujaf-367	200	8	economic	economic	ADJ
gujaf-367	200	9	development	development	NOUN
gujaf-367	200	10	:	:	PUNCT
gujaf-367	200	11	a	a	DET
gujaf-367	200	12	comparative	comparative	ADJ
gujaf-367	200	13	analysis	analysis	NOUN
gujaf-367	200	14	.	.	PUNCT
gujaf-367	201	1	african	african	ADJ
gujaf-367	201	2	economic	economic	PROPN
gujaf-367	201	3	review	review	PROPN
gujaf-367	201	4	,	,	PUNCT
gujaf-367	201	5	13(3	13(3	NUM
gujaf-367	201	6	)	)	PUNCT
gujaf-367	201	7	,	,	PUNCT
gujaf-367	201	8	100	100	NUM
gujaf-367	201	9	-	-	SYM
gujaf-367	201	10	120	120	NUM
gujaf-367	201	11	.	.	PUNCT
gujaf-367	202	1	dike	dike	PROPN
gujaf-367	202	2	,	,	PUNCT
gujaf-367	202	3	i.	i.	PROPN
gujaf-367	202	4	,	,	PUNCT
gujaf-367	202	5	&	&	CCONJ
gujaf-367	202	6	ogbonna	ogbonna	PROPN
gujaf-367	202	7	,	,	PUNCT
gujaf-367	202	8	b.	b.	PROPN
gujaf-367	202	9	(	(	PUNCT
gujaf-367	202	10	2022	2022	NUM
gujaf-367	202	11	)	)	PUNCT
gujaf-367	202	12	.	.	PUNCT
gujaf-367	203	1	employment	employment	NOUN
gujaf-367	203	2	and	and	CCONJ
gujaf-367	203	3	economic	economic	ADJ
gujaf-367	203	4	growth	growth	NOUN
gujaf-367	203	5	in	in	ADP
gujaf-367	203	6	african	african	ADJ
gujaf-367	203	7	economies	economy	NOUN
gujaf-367	203	8	:	:	PUNCT
gujaf-367	203	9	a	a	DET
gujaf-367	203	10	study	study	NOUN
gujaf-367	203	11	of	of	ADP
gujaf-367	203	12	west	west	PROPN
gujaf-367	203	13	africa	africa	PROPN
gujaf-367	203	14	.	.	PUNCT
gujaf-367	204	1	african	african	ADJ
gujaf-367	204	2	economic	economic	PROPN
gujaf-367	204	3	review	review	PROPN
gujaf-367	204	4	,	,	PUNCT
gujaf-367	204	5	51(3	51(3	NUM
gujaf-367	204	6	)	)	PUNCT
gujaf-367	204	7	,	,	PUNCT
gujaf-367	204	8	243	243	NUM
gujaf-367	204	9	-	-	SYM
gujaf-367	204	10	259	259	NUM
gujaf-367	204	11	.	.	PUNCT
gujaf-367	205	1	emerenini	emerenini	PROPN
gujaf-367	205	2	,	,	PUNCT
gujaf-367	205	3	f.	f.	PROPN
gujaf-367	205	4	m.	m.	PROPN
gujaf-367	205	5	&	&	CCONJ
gujaf-367	205	6	nnanna	nnanna	PROPN
gujaf-367	205	7	,	,	PUNCT
gujaf-367	205	8	a.	a.	NOUN
gujaf-367	205	9	u.	u.	PROPN
gujaf-367	205	10	(	(	PUNCT
gujaf-367	205	11	2015	2015	NUM
gujaf-367	205	12	)	)	PUNCT
gujaf-367	205	13	.	.	PUNCT
gujaf-367	206	1	debt	debt	NOUN
gujaf-367	206	2	management	management	NOUN
gujaf-367	206	3	and	and	CCONJ
gujaf-367	206	4	economic	economic	ADJ
gujaf-367	206	5	growth	growth	NOUN
gujaf-367	206	6	empirical	empirical	ADJ
gujaf-367	206	7	evidence	evidence	NOUN
gujaf-367	206	8	from	from	ADP
gujaf-367	206	9	nigeria	nigeria	PROPN
gujaf-367	206	10	.	.	PUNCT
gujaf-367	207	1	international	international	ADJ
gujaf-367	207	2	journal	journal	PROPN
gujaf-367	207	3	of	of	ADP
gujaf-367	207	4	innovative	innovative	ADJ
gujaf-367	207	5	research	research	NOUN
gujaf-367	207	6	&	&	CCONJ
gujaf-367	207	7	development	development	NOUN
gujaf-367	207	8	,	,	PUNCT
gujaf-367	207	9	4(1	4(1	NOUN
gujaf-367	207	10	)	)	PUNCT
gujaf-367	207	11	,	,	PUNCT
gujaf-367	207	12	243	243	NUM
gujaf-367	207	13	-	-	SYM
gujaf-367	207	14	258	258	NUM
gujaf-367	207	15	.	.	PUNCT
gujaf-367	208	1	fosu	fosu	PROPN
gujaf-367	208	2	,	,	PUNCT
gujaf-367	208	3	a.	a.	NOUN
gujaf-367	208	4	(	(	PUNCT
gujaf-367	208	5	2022	2022	NUM
gujaf-367	208	6	)	)	PUNCT
gujaf-367	208	7	.	.	PUNCT
gujaf-367	209	1	external	external	ADJ
gujaf-367	209	2	debt	debt	NOUN
gujaf-367	209	3	and	and	CCONJ
gujaf-367	209	4	growth	growth	NOUN
gujaf-367	209	5	in	in	ADP
gujaf-367	209	6	sub	sub	ADJ
gujaf-367	209	7	-	-	ADJ
gujaf-367	209	8	saharan	saharan	ADJ
gujaf-367	209	9	africa	africa	PROPN
gujaf-367	209	10	:	:	PUNCT
gujaf-367	209	11	the	the	DET
gujaf-367	209	12	impact	impact	NOUN
gujaf-367	209	13	of	of	ADP
gujaf-367	209	14	debt	debt	NOUN
gujaf-367	209	15	overhang	overhang	NOUN
gujaf-367	209	16	.	.	PUNCT
gujaf-367	210	1	economic	economic	ADJ
gujaf-367	210	2	modelling	modelling	NOUN
gujaf-367	210	3	,	,	PUNCT
gujaf-367	210	4	102	102	NUM
gujaf-367	210	5	,	,	PUNCT
gujaf-367	210	6	170	170	NUM
gujaf-367	210	7	-	-	SYM
gujaf-367	210	8	185	185	NUM
gujaf-367	210	9	.	.	PUNCT
gujaf-367	211	1	iyoha	iyoha	PROPN
gujaf-367	211	2	,	,	PUNCT
gujaf-367	211	3	m.	m.	NOUN
gujaf-367	211	4	a.	a.	PROPN
gujaf-367	211	5	&	&	CCONJ
gujaf-367	211	6	okim	okim	PROPN
gujaf-367	211	7	,	,	PUNCT
gujaf-367	211	8	a.	a.	NOUN
gujaf-367	211	9	(	(	PUNCT
gujaf-367	211	10	2017	2017	NUM
gujaf-367	211	11	)	)	PUNCT
gujaf-367	211	12	.	.	PUNCT
gujaf-367	212	1	the	the	DET
gujaf-367	212	2	impact	impact	NOUN
gujaf-367	212	3	of	of	ADP
gujaf-367	212	4	trade	trade	NOUN
gujaf-367	212	5	on	on	ADP
gujaf-367	212	6	economic	economic	ADJ
gujaf-367	212	7	growth	growth	NOUN
gujaf-367	212	8	in	in	ADP
gujaf-367	212	9	ecowas	ecowas	PROPN
gujaf-367	212	10	countries	country	NOUN
gujaf-367	212	11	:	:	PUNCT
gujaf-367	212	12	evidence	evidence	NOUN
gujaf-367	212	13	from	from	ADP
gujaf-367	212	14	panel	panel	NOUN
gujaf-367	212	15	data	datum	NOUN
gujaf-367	212	16	.	.	PUNCT
gujaf-367	213	1	cbn	cbn	PROPN
gujaf-367	213	2	journal	journal	PROPN
gujaf-367	213	3	of	of	ADP
gujaf-367	213	4	applied	apply	VERB
gujaf-367	213	5	statistics	statistic	NOUN
gujaf-367	213	6	,	,	PUNCT
gujaf-367	213	7	8(1	8(1	NOUN
gujaf-367	213	8	)	)	PUNCT
gujaf-367	213	9	,	,	PUNCT
gujaf-367	213	10	23	23	NUM
gujaf-367	213	11	-	-	SYM
gujaf-367	213	12	49	49	NUM
gujaf-367	213	13	.	.	PUNCT
gujaf-367	214	1	iyoha	iyoha	PROPN
gujaf-367	214	2	,	,	PUNCT
gujaf-367	214	3	m.a	m.a	PROPN
gujaf-367	214	4	.	.	PROPN
gujaf-367	214	5	(	(	PUNCT
gujaf-367	214	6	1999	1999	NUM
gujaf-367	214	7	)	)	PUNCT
gujaf-367	214	8	.	.	PUNCT
gujaf-367	215	1	external	external	ADJ
gujaf-367	215	2	debt	debt	NOUN
gujaf-367	215	3	and	and	CCONJ
gujaf-367	215	4	economic	economic	ADJ
gujaf-367	215	5	growth	growth	NOUN
gujaf-367	215	6	in	in	ADP
gujaf-367	215	7	sub	sub	ADJ
gujaf-367	215	8	-	-	ADJ
gujaf-367	215	9	saharan	saharan	ADJ
gujaf-367	215	10	african	african	ADJ
gujaf-367	215	11	countries	country	NOUN
gujaf-367	215	12	:	:	PUNCT
gujaf-367	215	13	an	an	DET
gujaf-367	215	14	econometric	econometric	ADJ
gujaf-367	215	15	study	study	NOUN
gujaf-367	215	16	.	.	PUNCT
gujaf-367	216	1	african	african	ADJ
gujaf-367	216	2	economic	economic	ADJ
gujaf-367	216	3	research	research	NOUN
gujaf-367	216	4	paper	paper	NOUN
gujaf-367	216	5	no	no	NOUN
gujaf-367	216	6	.	.	NOUN
gujaf-367	217	1	90	90	NUM
gujaf-367	217	2	african	african	ADJ
gujaf-367	217	3	economic	economic	ADJ
gujaf-367	217	4	research	research	NOUN
gujaf-367	217	5	consortium	consortium	PROPN
gujaf-367	217	6	,	,	PUNCT
gujaf-367	217	7	nairobi	nairobi	PROPN
gujaf-367	217	8	,	,	PUNCT
gujaf-367	217	9	march	march	NOUN
gujaf-367	217	10	jarju	jarju	NOUN
gujaf-367	217	11	,	,	PUNCT
gujaf-367	217	12	i.	i.	NOUN
gujaf-367	217	13	,	,	PUNCT
gujaf-367	217	14	nyarko	nyarko	PROPN
gujaf-367	217	15	,	,	PUNCT
gujaf-367	217	16	e.	e.	PROPN
gujaf-367	217	17	,	,	PUNCT
gujaf-367	217	18	adams	adams	PROPN
gujaf-367	217	19	,	,	PUNCT
gujaf-367	217	20	k.	k.	PROPN
gujaf-367	217	21	,	,	PUNCT
gujaf-367	217	22	&	&	CCONJ
gujaf-367	217	23	odeniran	odeniran	NOUN
gujaf-367	217	24	,	,	PUNCT
gujaf-367	217	25	o.	o.	PROPN
gujaf-367	217	26	s.	s.	PROPN
gujaf-367	217	27	(	(	PUNCT
gujaf-367	217	28	2016	2016	NUM
gujaf-367	217	29	)	)	PUNCT
gujaf-367	217	30	.	.	PUNCT
gujaf-367	218	1	the	the	DET
gujaf-367	218	2	relationship	relationship	NOUN
gujaf-367	218	3	between	between	ADP
gujaf-367	218	4	external	external	ADJ
gujaf-367	218	5	debt	debt	NOUN
gujaf-367	218	6	and	and	CCONJ
gujaf-367	218	7	economic	economic	ADJ
gujaf-367	218	8	growth	growth	NOUN
gujaf-367	218	9	in	in	ADP
gujaf-367	218	10	the	the	DET
gujaf-367	218	11	west	west	ADJ
gujaf-367	218	12	african	african	ADJ
gujaf-367	218	13	monetary	monetary	ADJ
gujaf-367	218	14	zone	zone	NOUN
gujaf-367	218	15	:	:	PUNCT
gujaf-367	218	16	a	a	DET
gujaf-367	218	17	panel	panel	NOUN
gujaf-367	218	18	data	data	VERB
gujaf-367	218	19	analysis	analysis	NOUN
gujaf-367	218	20	.	.	PUNCT
gujaf-367	219	1	west	west	PROPN
gujaf-367	219	2	african	african	PROPN
gujaf-367	219	3	monetary	monetary	PROPN
gujaf-367	219	4	institute	institute	PROPN
gujaf-367	219	5	(	(	PUNCT
gujaf-367	219	6	wami	wami	NOUN
gujaf-367	219	7	)	)	PUNCT
gujaf-367	219	8	occasional	occasional	ADJ
gujaf-367	219	9	paper	paper	NOUN
gujaf-367	219	10	series	series	PROPN
gujaf-367	219	11	no	no	PROPN
gujaf-367	219	12	.	.	PROPN
gujaf-367	220	1	12	12	NUM
gujaf-367	220	2	karikari	karikari	NOUN
gujaf-367	220	3	,	,	PUNCT
gujaf-367	220	4	a.	a.	PROPN
gujaf-367	220	5	,	,	PUNCT
gujaf-367	220	6	&	&	CCONJ
gujaf-367	220	7	agyemang	agyemang	PROPN
gujaf-367	220	8	,	,	PUNCT
gujaf-367	220	9	d.	d.	PROPN
gujaf-367	220	10	(	(	PUNCT
gujaf-367	220	11	2024	2024	NUM
gujaf-367	220	12	)	)	PUNCT
gujaf-367	220	13	.	.	PUNCT
gujaf-367	221	1	external	external	ADJ
gujaf-367	221	2	debt	debt	NOUN
gujaf-367	221	3	and	and	CCONJ
gujaf-367	221	4	economic	economic	ADJ
gujaf-367	221	5	growth	growth	NOUN
gujaf-367	221	6	in	in	ADP
gujaf-367	221	7	west	west	PROPN
gujaf-367	221	8	africa	africa	PROPN
gujaf-367	221	9	:	:	PUNCT
gujaf-367	221	10	evidence	evidence	NOUN
gujaf-367	221	11	from	from	ADP
gujaf-367	221	12	panel	panel	NOUN
gujaf-367	221	13	data	datum	NOUN
gujaf-367	221	14	.	.	PUNCT
gujaf-367	222	1	journal	journal	PROPN
gujaf-367	222	2	of	of	ADP
gujaf-367	222	3	african	african	ADJ
gujaf-367	222	4	economics	economic	NOUN
gujaf-367	222	5	,	,	PUNCT
gujaf-367	222	6	29(4	29(4	NOUN
gujaf-367	222	7	)	)	PUNCT
gujaf-367	222	8	,	,	PUNCT
gujaf-367	222	9	89	89	NUM
gujaf-367	222	10	-	-	SYM
gujaf-367	222	11	112	112	NUM
gujaf-367	222	12	.	.	PUNCT
gujaf-367	223	1	kasidi1	kasidi1	PROPN
gujaf-367	223	2	,	,	PUNCT
gujaf-367	223	3	f.	f.	PROPN
gujaf-367	223	4	&	&	CCONJ
gujaf-367	223	5	said	say	VERB
gujaf-367	223	6	,	,	PUNCT
gujaf-367	223	7	a.	a.	NOUN
gujaf-367	223	8	m.	m.	NOUN
gujaf-367	223	9	(	(	PUNCT
gujaf-367	223	10	2013	2013	NUM
gujaf-367	223	11	)	)	PUNCT
gujaf-367	223	12	.	.	PUNCT
gujaf-367	224	1	impact	impact	NOUN
gujaf-367	224	2	of	of	ADP
gujaf-367	224	3	external	external	ADJ
gujaf-367	224	4	debt	debt	NOUN
gujaf-367	224	5	on	on	ADP
gujaf-367	224	6	economic	economic	ADJ
gujaf-367	224	7	growth	growth	NOUN
gujaf-367	224	8	:	:	PUNCT
gujaf-367	224	9	a	a	DET
gujaf-367	224	10	case	case	NOUN
gujaf-367	224	11	study	study	NOUN
gujaf-367	224	12	of	of	ADP
gujaf-367	224	13	tanzania	tanzania	PROPN
gujaf-367	224	14	.	.	PUNCT
gujaf-367	225	1	advances	advance	NOUN
gujaf-367	225	2	in	in	ADP
gujaf-367	225	3	management	management	NOUN
gujaf-367	225	4	&	&	CCONJ
gujaf-367	225	5	applied	apply	VERB
gujaf-367	225	6	economics	economic	NOUN
gujaf-367	225	7	,	,	PUNCT
gujaf-367	225	8	3(4	3(4	NUM
gujaf-367	225	9	)	)	PUNCT
gujaf-367	225	10	,	,	PUNCT
gujaf-367	225	11	59	59	NUM
gujaf-367	225	12	-	-	SYM
gujaf-367	225	13	82	82	NUM
gujaf-367	225	14	khan	khan	PROPN
gujaf-367	225	15	,	,	PUNCT
gujaf-367	225	16	m.	m.	NOUN
gujaf-367	225	17	,	,	PUNCT
gujaf-367	225	18	&	&	CCONJ
gujaf-367	225	19	aman	aman	PROPN
gujaf-367	225	20	,	,	PUNCT
gujaf-367	225	21	s.	s.	PROPN
gujaf-367	225	22	(	(	PUNCT
gujaf-367	225	23	2020	2020	NUM
gujaf-367	225	24	)	)	PUNCT
gujaf-367	225	25	.	.	PUNCT
gujaf-367	226	1	debt	debt	NOUN
gujaf-367	226	2	servicing	servicing	NOUN
gujaf-367	226	3	and	and	CCONJ
gujaf-367	226	4	its	its	PRON
gujaf-367	226	5	impact	impact	NOUN
gujaf-367	226	6	on	on	ADP
gujaf-367	226	7	economic	economic	ADJ
gujaf-367	226	8	growth	growth	NOUN
gujaf-367	226	9	in	in	ADP
gujaf-367	226	10	low	low	ADJ
gujaf-367	226	11	-	-	PUNCT
gujaf-367	226	12	income	income	NOUN
gujaf-367	226	13	countries	country	NOUN
gujaf-367	226	14	.	.	PUNCT
gujaf-367	227	1	world	world	PROPN
gujaf-367	227	2	development	development	PROPN
gujaf-367	227	3	journal	journal	PROPN
gujaf-367	227	4	,	,	PUNCT
gujaf-367	227	5	48	48	NUM
gujaf-367	227	6	,	,	PUNCT
gujaf-367	227	7	140	140	NUM
gujaf-367	227	8	-	-	SYM
gujaf-367	227	9	156	156	NUM
gujaf-367	227	10	.	.	PUNCT
gujaf-367	228	1	khan	khan	PROPN
gujaf-367	228	2	,	,	PUNCT
gujaf-367	228	3	m.	m.	NOUN
gujaf-367	228	4	,	,	PUNCT
gujaf-367	228	5	&	&	CCONJ
gujaf-367	228	6	qayyum	qayyum	PROPN
gujaf-367	228	7	,	,	PUNCT
gujaf-367	228	8	a.	a.	NOUN
gujaf-367	228	9	(	(	PUNCT
gujaf-367	228	10	2021	2021	NUM
gujaf-367	228	11	)	)	PUNCT
gujaf-367	228	12	.	.	PUNCT
gujaf-367	229	1	the	the	DET
gujaf-367	229	2	positive	positive	ADJ
gujaf-367	229	3	impact	impact	NOUN
gujaf-367	229	4	of	of	ADP
gujaf-367	229	5	external	external	ADJ
gujaf-367	229	6	debt	debt	NOUN
gujaf-367	229	7	on	on	ADP
gujaf-367	229	8	economic	economic	ADJ
gujaf-367	229	9	growth	growth	NOUN
gujaf-367	229	10	in	in	ADP
gujaf-367	229	11	low	low	ADJ
gujaf-367	229	12	-	-	PUNCT
gujaf-367	229	13	income	income	NOUN
gujaf-367	229	14	countries	country	NOUN
gujaf-367	229	15	:	:	PUNCT
gujaf-367	229	16	a	a	DET
gujaf-367	229	17	panel	panel	NOUN
gujaf-367	229	18	data	data	VERB
gujaf-367	229	19	analysis	analysis	NOUN
gujaf-367	229	20	.	.	PUNCT
gujaf-367	230	1	journal	journal	PROPN
gujaf-367	230	2	of	of	ADP
gujaf-367	230	3	international	international	ADJ
gujaf-367	230	4	trade	trade	NOUN
gujaf-367	230	5	and	and	CCONJ
gujaf-367	230	6	economic	economic	ADJ
gujaf-367	230	7	development	development	NOUN
gujaf-367	230	8	,	,	PUNCT
gujaf-367	230	9	30(6	30(6	NUM
gujaf-367	230	10	)	)	PUNCT
gujaf-367	230	11	,	,	PUNCT
gujaf-367	230	12	655	655	NUM
gujaf-367	230	13	-	-	SYM
gujaf-367	230	14	673	673	NUM
gujaf-367	230	15	.	.	PUNCT
gujaf-367	231	1	khariru	khariru	PROPN
gujaf-367	231	2	,	,	PUNCT
gujaf-367	231	3	a.s	a.s	PROPN
gujaf-367	231	4	.	.	PROPN
gujaf-367	231	5	&	&	CCONJ
gujaf-367	231	6	mbah	mbah	PROPN
gujaf-367	231	7	,	,	PUNCT
gujaf-367	231	8	s.	s.	PROPN
gujaf-367	231	9	a.	a.	PROPN
gujaf-367	231	10	(	(	PUNCT
gujaf-367	231	11	2018	2018	NUM
gujaf-367	231	12	)	)	PUNCT
gujaf-367	231	13	.	.	PUNCT
gujaf-367	232	1	external	external	ADJ
gujaf-367	232	2	debt	debt	NOUN
gujaf-367	232	3	and	and	CCONJ
gujaf-367	232	4	economic	economic	ADJ
gujaf-367	232	5	growth	growth	NOUN
gujaf-367	232	6	:	:	PUNCT
gujaf-367	232	7	the	the	DET
gujaf-367	232	8	case	case	NOUN
gujaf-367	232	9	of	of	ADP
gujaf-367	232	10	emerging	emerge	VERB
gujaf-367	232	11	economy	economy	NOUN
gujaf-367	232	12	.	.	PUNCT
gujaf-367	233	1	journal	journal	NOUN
gujaf-367	233	2	of	of	ADP
gujaf-367	233	3	economic	economic	ADJ
gujaf-367	233	4	integration	integration	NOUN
gujaf-367	233	5	,	,	PUNCT
gujaf-367	233	6	33(1	33(1	NUM
gujaf-367	233	7	)	)	PUNCT
gujaf-367	233	8	,	,	PUNCT
gujaf-367	233	9	1142	1142	NUM
gujaf-367	233	10	-	-	SYM
gujaf-367	233	11	1157	1157	NUM
gujaf-367	233	12	.	.	PUNCT
gujaf-367	234	1	krugman	krugman	PROPN
gujaf-367	234	2	,	,	PUNCT
gujaf-367	234	3	p.	p.	PROPN
gujaf-367	234	4	r.	r.	PROPN
gujaf-367	234	5	(	(	PUNCT
gujaf-367	234	6	1988	1988	NUM
gujaf-367	234	7	)	)	PUNCT
gujaf-367	234	8	.	.	PUNCT
gujaf-367	235	1	financing	financing	NOUN
gujaf-367	235	2	versus	versus	ADP
gujaf-367	235	3	forgiving	forgive	VERB
gujaf-367	235	4	a	a	DET
gujaf-367	235	5	debt	debt	NOUN
gujaf-367	235	6	overhang	overhang	NOUN
gujaf-367	235	7	.	.	PUNCT
gujaf-367	236	1	journal	journal	PROPN
gujaf-367	236	2	of	of	ADP
gujaf-367	236	3	development	development	NOUN
gujaf-367	236	4	economics	economic	NOUN
gujaf-367	236	5	,	,	PUNCT
gujaf-367	236	6	29	29	NUM
gujaf-367	236	7	,	,	PUNCT
gujaf-367	236	8	253	253	NUM
gujaf-367	236	9	-	-	SYM
gujaf-367	236	10	268	268	NUM
gujaf-367	236	11	.	.	PUNCT
gujaf-367	237	1	lawanson	lawanson	PROPN
gujaf-367	237	2	,	,	PUNCT
gujaf-367	237	3	a.o	a.o	PROPN
gujaf-367	237	4	.	.	PROPN
gujaf-367	237	5	(	(	PUNCT
gujaf-367	237	6	2014	2014	NUM
gujaf-367	237	7	)	)	PUNCT
gujaf-367	237	8	.	.	PUNCT
gujaf-367	238	1	impact	impact	NOUN
gujaf-367	238	2	of	of	ADP
gujaf-367	238	3	external	external	ADJ
gujaf-367	238	4	debt	debt	NOUN
gujaf-367	238	5	accumulation	accumulation	NOUN
gujaf-367	238	6	and	and	CCONJ
gujaf-367	238	7	capital	capital	NOUN
gujaf-367	238	8	flight	flight	NOUN
gujaf-367	238	9	on	on	ADP
gujaf-367	238	10	economic	economic	ADJ
gujaf-367	238	11	growth	growth	NOUN
gujaf-367	238	12	of	of	ADP
gujaf-367	238	13	west	west	ADJ
gujaf-367	238	14	african	african	ADJ
gujaf-367	238	15	countries	country	NOUN
gujaf-367	238	16	.	.	PUNCT
gujaf-367	239	1	aerc	aerc	PROPN
gujaf-367	239	2	research	research	NOUN
gujaf-367	239	3	paper	paper	NOUN
gujaf-367	239	4	,	,	PUNCT
gujaf-367	239	5	279	279	NUM
gujaf-367	239	6	,	,	PUNCT
gujaf-367	239	7	1	1	NUM
gujaf-367	239	8	-	-	SYM
gujaf-367	239	9	40	40	NUM
gujaf-367	239	10	.	.	PUNCT
gujaf-367	240	1	momodu	momodu	ADV
gujaf-367	240	2	,	,	PUNCT
gujaf-367	240	3	a.	a.	NOUN
gujaf-367	240	4	a.	a.	NOUN
gujaf-367	240	5	(	(	PUNCT
gujaf-367	240	6	2012	2012	NUM
gujaf-367	240	7	)	)	PUNCT
gujaf-367	240	8	.	.	PUNCT
gujaf-367	241	1	effects	effect	NOUN
gujaf-367	241	2	of	of	ADP
gujaf-367	241	3	debt	debt	NOUN
gujaf-367	241	4	servicing	servicing	NOUN
gujaf-367	241	5	on	on	ADP
gujaf-367	241	6	economic	economic	ADJ
gujaf-367	241	7	growth	growth	NOUN
gujaf-367	241	8	of	of	ADP
gujaf-367	241	9	nigeria	nigeria	PROPN
gujaf-367	241	10	.	.	PUNCT
gujaf-367	242	1	reiko	reiko	PROPN
gujaf-367	242	2	nternational	nternational	ADJ
gujaf-367	242	3	journal	journal	NOUN
gujaf-367	242	4	of	of	ADP
gujaf-367	242	5	business	business	NOUN
gujaf-367	242	6	and	and	CCONJ
gujaf-367	242	7	finance	finance	NOUN
gujaf-367	242	8	,	,	PUNCT
gujaf-367	242	9	4(3	4(3	NUM
gujaf-367	242	10	)	)	PUNCT
gujaf-367	242	11	.	.	PUNCT
gujaf-367	243	1	moyo	moyo	PROPN
gujaf-367	243	2	,	,	PUNCT
gujaf-367	243	3	d.	d.	PROPN
gujaf-367	243	4	(	(	PUNCT
gujaf-367	243	5	2021	2021	NUM
gujaf-367	243	6	)	)	PUNCT
gujaf-367	243	7	.	.	PUNCT
gujaf-367	244	1	the	the	DET
gujaf-367	244	2	debt	debt	NOUN
gujaf-367	244	3	trap	trap	NOUN
gujaf-367	244	4	:	:	PUNCT
gujaf-367	244	5	external	external	ADJ
gujaf-367	244	6	debt	debt	NOUN
gujaf-367	244	7	,	,	PUNCT
gujaf-367	244	8	servicing	servicing	NOUN
gujaf-367	244	9	,	,	PUNCT
gujaf-367	244	10	and	and	CCONJ
gujaf-367	244	11	economic	economic	ADJ
gujaf-367	244	12	growth	growth	NOUN
gujaf-367	244	13	in	in	ADP
gujaf-367	244	14	african	african	ADJ
gujaf-367	244	15	economies	economy	NOUN
gujaf-367	244	16	.	.	PUNCT
gujaf-367	245	1	african	african	ADJ
gujaf-367	245	2	development	development	PROPN
gujaf-367	245	3	review	review	PROPN
gujaf-367	245	4	,	,	PUNCT
gujaf-367	245	5	33(1	33(1	NUM
gujaf-367	245	6	)	)	PUNCT
gujaf-367	245	7	,	,	PUNCT
gujaf-367	245	8	97	97	NUM
gujaf-367	245	9	-	-	SYM
gujaf-367	245	10	110	110	NUM
gujaf-367	245	11	.	.	PUNCT
gujaf-367	246	1	muna	muna	PROPN
gujaf-367	246	2	,	,	PUNCT
gujaf-367	246	3	d.	d.	PROPN
gujaf-367	246	4	,	,	PUNCT
gujaf-367	246	5	&	&	CCONJ
gujaf-367	246	6	chijioke	chijioke	PROPN
gujaf-367	246	7	,	,	PUNCT
gujaf-367	246	8	f.	f.	PROPN
gujaf-367	246	9	(	(	PUNCT
gujaf-367	246	10	2023	2023	NUM
gujaf-367	246	11	)	)	PUNCT
gujaf-367	246	12	.	.	PUNCT
gujaf-367	247	1	governance	governance	NOUN
gujaf-367	247	2	and	and	CCONJ
gujaf-367	247	3	debt	debt	NOUN
gujaf-367	247	4	sustainability	sustainability	NOUN
gujaf-367	247	5	:	:	PUNCT
gujaf-367	247	6	the	the	DET
gujaf-367	247	7	role	role	NOUN
gujaf-367	247	8	of	of	ADP
gujaf-367	247	9	institutions	institution	NOUN
gujaf-367	247	10	in	in	ADP
gujaf-367	247	11	mitigating	mitigate	VERB
gujaf-367	247	12	debt	debt	NOUN
gujaf-367	247	13	overhang	overhang	NOUN
gujaf-367	247	14	in	in	ADP
gujaf-367	247	15	west	west	PROPN
gujaf-367	247	16	africa	africa	PROPN
gujaf-367	247	17	.	.	PUNCT
gujaf-367	248	1	journal	journal	PROPN
gujaf-367	248	2	of	of	ADP
gujaf-367	248	3	african	african	ADJ
gujaf-367	248	4	economics	economic	NOUN
gujaf-367	248	5	,	,	PUNCT
gujaf-367	248	6	58(4	58(4	NUM
gujaf-367	248	7	)	)	PUNCT
gujaf-367	248	8	,	,	PUNCT
gujaf-367	248	9	389	389	NUM
gujaf-367	248	10	-	-	SYM
gujaf-367	248	11	406	406	NUM
gujaf-367	248	12	.	.	PUNCT
gujaf-367	249	1	gusau	gusau	ADJ
gujaf-367	249	2	journal	journal	PROPN
gujaf-367	249	3	of	of	ADP
gujaf-367	249	4	accounting	accounting	NOUN
gujaf-367	249	5	and	and	CCONJ
gujaf-367	249	6	finance	finance	NOUN
gujaf-367	249	7	,	,	PUNCT
gujaf-367	249	8	vol.6	vol.6	PROPN
gujaf-367	249	9	,	,	PUNCT
gujaf-367	249	10	issue	issue	NOUN
gujaf-367	249	11	1	1	NUM
gujaf-367	249	12	,	,	PUNCT
gujaf-367	249	13	april	april	PROPN
gujaf-367	249	14	,	,	PUNCT
gujaf-367	249	15	2025	2025	NUM
gujaf-367	249	16	61	61	NUM
gujaf-367	249	17	ndikumana	ndikumana	PROPN
gujaf-367	249	18	,	,	PUNCT
gujaf-367	249	19	l.	l.	PROPN
gujaf-367	249	20	,	,	PUNCT
gujaf-367	249	21	&	&	CCONJ
gujaf-367	249	22	boyce	boyce	PROPN
gujaf-367	249	23	,	,	PUNCT
gujaf-367	249	24	j.	j.	PROPN
gujaf-367	249	25	k.	k.	PROPN
gujaf-367	249	26	(	(	PUNCT
gujaf-367	249	27	2021	2021	NUM
gujaf-367	249	28	)	)	PUNCT
gujaf-367	249	29	.	.	PUNCT
gujaf-367	250	1	capital	capital	NOUN
gujaf-367	250	2	flight	flight	NOUN
gujaf-367	250	3	and	and	CCONJ
gujaf-367	250	4	external	external	ADJ
gujaf-367	250	5	debt	debt	NOUN
gujaf-367	250	6	in	in	ADP
gujaf-367	250	7	africa	africa	PROPN
gujaf-367	250	8	:	:	PUNCT
gujaf-367	250	9	the	the	DET
gujaf-367	250	10	challenge	challenge	NOUN
gujaf-367	250	11	of	of	ADP
gujaf-367	250	12	sustaining	sustain	VERB
gujaf-367	250	13	growth	growth	NOUN
gujaf-367	250	14	.	.	PUNCT
gujaf-367	251	1	development	development	NOUN
gujaf-367	251	2	studies	studies	PROPN
gujaf-367	251	3	review	review	VERB
gujaf-367	251	4	,	,	PUNCT
gujaf-367	251	5	43(3	43(3	NUM
gujaf-367	251	6	)	)	PUNCT
gujaf-367	251	7	,	,	PUNCT
gujaf-367	251	8	163	163	NUM
gujaf-367	251	9	-	-	SYM
gujaf-367	251	10	180	180	NUM
gujaf-367	251	11	.	.	PUNCT
gujaf-367	252	1	odejimi	odejimi	PROPN
gujaf-367	252	2	,	,	PUNCT
gujaf-367	252	3	d.	d.	PROPN
gujaf-367	252	4	o.	o.	PROPN
gujaf-367	252	5	and	and	CCONJ
gujaf-367	252	6	ozor	ozor	PROPN
gujaf-367	252	7	,	,	PUNCT
gujaf-367	252	8	p.	p.	NOUN
gujaf-367	252	9	l.	l.	PROPN
gujaf-367	252	10	(	(	PUNCT
gujaf-367	252	11	2018	2018	NUM
gujaf-367	252	12	)	)	PUNCT
gujaf-367	252	13	.	.	PUNCT
gujaf-367	253	1	the	the	DET
gujaf-367	253	2	effects	effect	NOUN
gujaf-367	253	3	of	of	ADP
gujaf-367	253	4	debts	debt	NOUN
gujaf-367	253	5	on	on	ADP
gujaf-367	253	6	economic	economic	ADJ
gujaf-367	253	7	growth	growth	NOUN
gujaf-367	253	8	in	in	ADP
gujaf-367	253	9	west	west	PROPN
gujaf-367	253	10	africa	africa	PROPN
gujaf-367	253	11	.	.	PUNCT
gujaf-367	254	1	international	international	ADJ
gujaf-367	254	2	journal	journal	PROPN
gujaf-367	254	3	of	of	ADP
gujaf-367	254	4	economics	economic	NOUN
gujaf-367	254	5	,	,	PUNCT
gujaf-367	254	6	commerce	commerce	NOUN
gujaf-367	254	7	and	and	CCONJ
gujaf-367	254	8	management	management	NOUN
gujaf-367	254	9	,	,	PUNCT
gujaf-367	254	10	united	united	ADJ
gujaf-367	254	11	kingdom	kingdom	PROPN
gujaf-367	254	12	,	,	PUNCT
gujaf-367	254	13	6(1	6(1	NUM
gujaf-367	254	14	)	)	PUNCT
gujaf-367	254	15	,	,	PUNCT
gujaf-367	254	16	224	224	NUM
gujaf-367	254	17	-	-	SYM
gujaf-367	254	18	244	244	NUM
gujaf-367	254	19	ojo	ojo	NOUN
gujaf-367	254	20	,	,	PUNCT
gujaf-367	254	21	a.	a.	NOUN
gujaf-367	254	22	(	(	PUNCT
gujaf-367	254	23	2021	2021	NUM
gujaf-367	254	24	)	)	PUNCT
gujaf-367	254	25	.	.	PUNCT
gujaf-367	255	1	the	the	DET
gujaf-367	255	2	long	long	ADV
gujaf-367	255	3	-	-	PUNCT
gujaf-367	255	4	run	run	NOUN
gujaf-367	255	5	effects	effect	NOUN
gujaf-367	255	6	of	of	ADP
gujaf-367	255	7	external	external	ADJ
gujaf-367	255	8	debt	debt	NOUN
gujaf-367	255	9	on	on	ADP
gujaf-367	255	10	economic	economic	ADJ
gujaf-367	255	11	growth	growth	NOUN
gujaf-367	255	12	in	in	ADP
gujaf-367	255	13	ecowas	ecowas	PROPN
gujaf-367	255	14	countries	country	NOUN
gujaf-367	255	15	.	.	PUNCT
gujaf-367	256	1	international	international	ADJ
gujaf-367	256	2	journal	journal	PROPN
gujaf-367	256	3	of	of	ADP
gujaf-367	256	4	financial	financial	ADJ
gujaf-367	256	5	studies	study	NOUN
gujaf-367	256	6	,	,	PUNCT
gujaf-367	256	7	9(1	9(1	NUM
gujaf-367	256	8	)	)	PUNCT
gujaf-367	256	9	,	,	PUNCT
gujaf-367	256	10	85	85	NUM
gujaf-367	256	11	-	-	SYM
gujaf-367	256	12	102	102	NUM
gujaf-367	256	13	.	.	PUNCT
gujaf-367	257	1	okin	okin	PROPN
gujaf-367	257	2	,	,	PUNCT
gujaf-367	257	3	i.	i.	PROPN
gujaf-367	257	4	,	,	PUNCT
gujaf-367	257	5	&	&	CCONJ
gujaf-367	257	6	ganiyu	ganiyu	PROPN
gujaf-367	257	7	,	,	PUNCT
gujaf-367	257	8	a.	a.	NOUN
gujaf-367	257	9	(	(	PUNCT
gujaf-367	257	10	2021	2021	NUM
gujaf-367	257	11	)	)	PUNCT
gujaf-367	257	12	.	.	PUNCT
gujaf-367	258	1	external	external	ADJ
gujaf-367	258	2	debt	debt	NOUN
gujaf-367	258	3	and	and	CCONJ
gujaf-367	258	4	economic	economic	ADJ
gujaf-367	258	5	growth	growth	NOUN
gujaf-367	258	6	in	in	ADP
gujaf-367	258	7	west	west	PROPN
gujaf-367	258	8	africa	africa	PROPN
gujaf-367	258	9	:	:	PUNCT
gujaf-367	258	10	a	a	DET
gujaf-367	258	11	comprehensive	comprehensive	ADJ
gujaf-367	258	12	analysis	analysis	NOUN
gujaf-367	258	13	.	.	PUNCT
gujaf-367	259	1	african	african	ADJ
gujaf-367	259	2	journal	journal	PROPN
gujaf-367	259	3	of	of	ADP
gujaf-367	259	4	economic	economic	ADJ
gujaf-367	259	5	and	and	CCONJ
gujaf-367	259	6	management	management	NOUN
gujaf-367	259	7	studies	study	NOUN
gujaf-367	259	8	,	,	PUNCT
gujaf-367	259	9	12(5	12(5	NUM
gujaf-367	259	10	)	)	PUNCT
gujaf-367	259	11	,	,	PUNCT
gujaf-367	259	12	523	523	NUM
gujaf-367	259	13	-	-	SYM
gujaf-367	259	14	540	540	NUM
gujaf-367	259	15	.	.	PUNCT
gujaf-367	260	1	okoro	okoro	PROPN
gujaf-367	260	2	,	,	PUNCT
gujaf-367	260	3	j.	j.	PROPN
gujaf-367	260	4	(	(	PUNCT
gujaf-367	260	5	2024	2024	NUM
gujaf-367	260	6	)	)	PUNCT
gujaf-367	260	7	.	.	PUNCT
gujaf-367	261	1	exploring	explore	VERB
gujaf-367	261	2	the	the	DET
gujaf-367	261	3	debt	debt	NOUN
gujaf-367	261	4	-	-	PUNCT
gujaf-367	261	5	growth	growth	NOUN
gujaf-367	261	6	nexus	nexus	NOUN
gujaf-367	261	7	in	in	ADP
gujaf-367	261	8	africa	africa	PROPN
gujaf-367	261	9	:	:	PUNCT
gujaf-367	261	10	evidence	evidence	NOUN
gujaf-367	261	11	from	from	ADP
gujaf-367	261	12	nigeria	nigeria	PROPN
gujaf-367	261	13	and	and	CCONJ
gujaf-367	261	14	ecowas	ecowas	PROPN
gujaf-367	261	15	.	.	PUNCT
gujaf-367	262	1	journal	journal	PROPN
gujaf-367	262	2	of	of	ADP
gujaf-367	262	3	african	african	ADJ
gujaf-367	262	4	finance	finance	NOUN
gujaf-367	262	5	,	,	PUNCT
gujaf-367	262	6	8(2	8(2	NUM
gujaf-367	262	7	)	)	PUNCT
gujaf-367	262	8	,	,	PUNCT
gujaf-367	262	9	123	123	NUM
gujaf-367	262	10	-	-	SYM
gujaf-367	262	11	135	135	NUM
gujaf-367	262	12	.	.	PUNCT
gujaf-367	263	1	olofin	olofin	NOUN
gujaf-367	263	2	,	,	PUNCT
gujaf-367	263	3	a.	a.	NOUN
gujaf-367	263	4	,	,	PUNCT
gujaf-367	263	5	&	&	CCONJ
gujaf-367	263	6	ganiyu	ganiyu	PROPN
gujaf-367	263	7	,	,	PUNCT
gujaf-367	263	8	i.	i.	NOUN
gujaf-367	263	9	(	(	PUNCT
gujaf-367	263	10	2021	2021	NUM
gujaf-367	263	11	)	)	PUNCT
gujaf-367	263	12	.	.	PUNCT
gujaf-367	264	1	debt	debt	NOUN
gujaf-367	264	2	servicing	servicing	NOUN
gujaf-367	264	3	and	and	CCONJ
gujaf-367	264	4	economic	economic	ADJ
gujaf-367	264	5	growth	growth	NOUN
gujaf-367	264	6	in	in	ADP
gujaf-367	264	7	ecowas	ecowas	PROPN
gujaf-367	264	8	countries	country	NOUN
gujaf-367	264	9	:	:	PUNCT
gujaf-367	264	10	empirical	empirical	ADJ
gujaf-367	264	11	evidence	evidence	NOUN
gujaf-367	264	12	from	from	ADP
gujaf-367	264	13	panel	panel	NOUN
gujaf-367	264	14	data	datum	NOUN
gujaf-367	264	15	analysis	analysis	NOUN
gujaf-367	264	16	.	.	PUNCT
gujaf-367	265	1	international	international	ADJ
gujaf-367	265	2	review	review	NOUN
gujaf-367	265	3	of	of	ADP
gujaf-367	265	4	applied	apply	VERB
gujaf-367	265	5	economics	economic	NOUN
gujaf-367	265	6	,	,	PUNCT
gujaf-367	265	7	35(1	35(1	NUM
gujaf-367	265	8	)	)	PUNCT
gujaf-367	265	9	,	,	PUNCT
gujaf-367	265	10	23	23	NUM
gujaf-367	265	11	-	-	SYM
gujaf-367	265	12	41	41	NUM
gujaf-367	265	13	.	.	PUNCT
gujaf-367	266	1	osei	osei	PROPN
gujaf-367	266	2	,	,	PUNCT
gujaf-367	266	3	a.	a.	NOUN
gujaf-367	266	4	(	(	PUNCT
gujaf-367	266	5	2020	2020	NUM
gujaf-367	266	6	)	)	PUNCT
gujaf-367	266	7	.	.	PUNCT
gujaf-367	267	1	debt	debt	NOUN
gujaf-367	267	2	accumulation	accumulation	NOUN
gujaf-367	267	3	and	and	CCONJ
gujaf-367	267	4	economic	economic	ADJ
gujaf-367	267	5	growth	growth	NOUN
gujaf-367	267	6	:	:	PUNCT
gujaf-367	267	7	empirical	empirical	ADJ
gujaf-367	267	8	evidence	evidence	NOUN
gujaf-367	267	9	from	from	ADP
gujaf-367	267	10	africa	africa	PROPN
gujaf-367	267	11	’s	’s	PART
gujaf-367	267	12	debt	debt	NOUN
gujaf-367	267	13	crisis	crisis	NOUN
gujaf-367	267	14	.	.	PUNCT
gujaf-367	268	1	global	global	ADJ
gujaf-367	268	2	economic	economic	PROPN
gujaf-367	268	3	review	review	PROPN
gujaf-367	268	4	,	,	PUNCT
gujaf-367	268	5	49(2	49(2	NUM
gujaf-367	268	6	)	)	PUNCT
gujaf-367	268	7	,	,	PUNCT
gujaf-367	268	8	178	178	NUM
gujaf-367	268	9	-	-	SYM
gujaf-367	268	10	195	195	NUM
gujaf-367	268	11	.	.	PUNCT
gujaf-367	269	1	pattillo	pattillo	PROPN
gujaf-367	269	2	,	,	PUNCT
gujaf-367	269	3	c.	c.	PROPN
gujaf-367	269	4	,	,	PUNCT
gujaf-367	269	5	h.	h.	PROPN
gujaf-367	269	6	poirson	poirson	PROPN
gujaf-367	269	7	&	&	CCONJ
gujaf-367	269	8	l.	l.	PROPN
gujaf-367	269	9	ricci	ricci	PROPN
gujaf-367	269	10	.	.	PUNCT
gujaf-367	270	1	2011	2011	NUM
gujaf-367	270	2	.	.	PUNCT
gujaf-367	271	1	external	external	ADJ
gujaf-367	271	2	debt	debt	NOUN
gujaf-367	271	3	and	and	CCONJ
gujaf-367	271	4	growth	growth	NOUN
gujaf-367	271	5	.	.	PUNCT
gujaf-367	272	1	review	review	NOUN
gujaf-367	272	2	of	of	ADP
gujaf-367	272	3	economics	economic	NOUN
gujaf-367	272	4	and	and	CCONJ
gujaf-367	272	5	institutions	institution	NOUN
gujaf-367	272	6	,	,	PUNCT
gujaf-367	272	7	2(3	2(3	NUM
gujaf-367	272	8	)	)	PUNCT
gujaf-367	272	9	,	,	PUNCT
gujaf-367	272	10	article	article	NOUN
gujaf-367	272	11	2	2	NUM
gujaf-367	272	12	.	.	PUNCT
gujaf-367	272	13	pattillo	pattillo	PROPN
gujaf-367	272	14	,	,	PUNCT
gujaf-367	272	15	c.	c.	PROPN
gujaf-367	272	16	,	,	PUNCT
gujaf-367	272	17	poirson	poirson	PROPN
gujaf-367	272	18	,	,	PUNCT
gujaf-367	272	19	h.	h.	PROPN
gujaf-367	272	20	,	,	PUNCT
gujaf-367	272	21	&	&	CCONJ
gujaf-367	272	22	ricci	ricci	PROPN
gujaf-367	272	23	,	,	PUNCT
gujaf-367	272	24	l.	l.	PROPN
gujaf-367	272	25	(	(	PUNCT
gujaf-367	272	26	2002	2002	NUM
gujaf-367	272	27	)	)	PUNCT
gujaf-367	272	28	.	.	PUNCT
gujaf-367	273	1	external	external	ADJ
gujaf-367	273	2	debt	debt	NOUN
gujaf-367	273	3	and	and	CCONJ
gujaf-367	273	4	growth	growth	NOUN
gujaf-367	273	5	.	.	PUNCT
gujaf-367	274	1	imf	imf	PROPN
gujaf-367	274	2	working	working	PROPN
gujaf-367	274	3	paper	paper	PROPN
gujaf-367	274	4	02/69	02/69	NOUN
gujaf-367	274	5	.	.	PUNCT
gujaf-367	275	1	international	international	ADJ
gujaf-367	275	2	monetary	monetary	ADJ
gujaf-367	275	3	fund	fund	NOUN
gujaf-367	275	4	.	.	PUNCT
gujaf-367	276	1	https://doi.org/10.5089/9781451851254.001	https://doi.org/10.5089/9781451851254.001	X
gujaf-367	276	2	paul	paul	PROPN
gujaf-367	276	3	,	,	PUNCT
gujaf-367	276	4	n.	n.	NOUN
gujaf-367	276	5	(	(	PUNCT
gujaf-367	276	6	2017	2017	NUM
gujaf-367	276	7	)	)	PUNCT
gujaf-367	276	8	.	.	PUNCT
gujaf-367	277	1	analysis	analysis	NOUN
gujaf-367	277	2	of	of	ADP
gujaf-367	277	3	the	the	DET
gujaf-367	277	4	impact	impact	NOUN
gujaf-367	277	5	of	of	ADP
gujaf-367	277	6	external	external	ADJ
gujaf-367	277	7	debt	debt	NOUN
gujaf-367	277	8	on	on	ADP
gujaf-367	277	9	economic	economic	ADJ
gujaf-367	277	10	rowth	rowth	NOUN
gujaf-367	277	11	in	in	ADP
gujaf-367	277	12	an	an	DET
gujaf-367	277	13	emerging	emerge	VERB
gujaf-367	277	14	economy	economy	NOUN
gujaf-367	277	15	:	:	PUNCT
gujaf-367	277	16	evidence	evidence	NOUN
gujaf-367	277	17	from	from	ADP
gujaf-367	277	18	nigeria	nigeria	PROPN
gujaf-367	277	19	.	.	PUNCT
gujaf-367	278	1	african	african	ADJ
gujaf-367	278	2	research	research	PROPN
gujaf-367	278	3	review	review	NOUN
gujaf-367	278	4	11	11	NUM
gujaf-367	278	5	(	(	PUNCT
gujaf-367	278	6	4	4	NUM
gujaf-367	278	7	)	)	PUNCT
gujaf-367	278	8	,	,	PUNCT
gujaf-367	278	9	256	256	NUM
gujaf-367	278	10	-	-	SYM
gujaf-367	278	11	173	173	NUM
gujaf-367	278	12	penn	penn	PROPN
gujaf-367	278	13	world	world	NOUN
gujaf-367	278	14	table	table	NOUN
gujaf-367	278	15	(	(	PUNCT
gujaf-367	278	16	pwt	pwt	PROPN
gujaf-367	278	17	9.1	9.1	NUM
gujaf-367	278	18	)	)	PUNCT
gujaf-367	278	19	(	(	PUNCT
gujaf-367	278	20	2019	2019	NUM
gujaf-367	278	21	)	)	PUNCT
gujaf-367	278	22	.	.	PUNCT
gujaf-367	279	1	university	university	NOUN
gujaf-367	279	2	of	of	ADP
gujaf-367	279	3	groningen	groningen	PROPN
gujaf-367	279	4	–	–	PUNCT
gujaf-367	279	5	rug	rug	NOUN
gujaf-367	279	6	.	.	PUNCT
gujaf-367	279	7	retrieved	retrieve	VERB
gujaf-367	279	8	from	from	ADP
gujaf-367	279	9	rug.nl/ggdc/productivity/pwt/	rug.nl/ggdc/productivity/pwt/	PROPN
gujaf-367	279	10	phillips	phillips	PROPN
gujaf-367	279	11	,	,	PUNCT
gujaf-367	279	12	p.	p.	PROPN
gujaf-367	279	13	c.	c.	PROPN
gujaf-367	279	14	b.	b.	PROPN
gujaf-367	279	15	&	&	CCONJ
gujaf-367	279	16	hansen	hansen	PROPN
gujaf-367	279	17	,	,	PUNCT
gujaf-367	279	18	b.	b.	PROPN
gujaf-367	279	19	(	(	PUNCT
gujaf-367	279	20	1990	1990	NUM
gujaf-367	279	21	)	)	PUNCT
gujaf-367	279	22	.	.	PUNCT
gujaf-367	280	1	statistical	statistical	ADJ
gujaf-367	280	2	inference	inference	NOUN
gujaf-367	280	3	in	in	ADP
gujaf-367	280	4	instrumental	instrumental	ADJ
gujaf-367	280	5	variables	variable	NOUN
gujaf-367	280	6	regression	regression	VERB
gujaf-367	280	7	with	with	ADP
gujaf-367	280	8	i(1	i(1	PROPN
gujaf-367	280	9	)	)	PUNCT
gujaf-367	280	10	processes	process	NOUN
gujaf-367	280	11	.	.	PUNCT
gujaf-367	281	1	the	the	DET
gujaf-367	281	2	review	review	NOUN
gujaf-367	281	3	of	of	ADP
gujaf-367	281	4	economics	economic	NOUN
gujaf-367	281	5	studies	study	NOUN
gujaf-367	281	6	,	,	PUNCT
gujaf-367	281	7	57(1	57(1	NUM
gujaf-367	281	8	)	)	PUNCT
gujaf-367	281	9	,	,	PUNCT
gujaf-367	281	10	99	99	NUM
gujaf-367	281	11	-	-	SYM
gujaf-367	281	12	125	125	NUM
gujaf-367	281	13	.	.	PUNCT
gujaf-367	282	1	phillips	phillip	NOUN
gujaf-367	282	2	,	,	PUNCT
gujaf-367	282	3	p.	p.	PROPN
gujaf-367	282	4	c.	c.	PROPN
gujaf-367	282	5	b.	b.	PROPN
gujaf-367	282	6	(	(	PUNCT
gujaf-367	282	7	1995	1995	NUM
gujaf-367	282	8	)	)	PUNCT
gujaf-367	282	9	.	.	PUNCT
gujaf-367	283	1	fully	fully	ADV
gujaf-367	283	2	modified	modified	ADJ
gujaf-367	283	3	least	least	ADJ
gujaf-367	283	4	squares	square	NOUN
gujaf-367	283	5	and	and	CCONJ
gujaf-367	283	6	vector	vector	NOUN
gujaf-367	283	7	autoregression	autoregression	NOUN
gujaf-367	283	8	,	,	PUNCT
gujaf-367	283	9	cowles	cowles	PROPN
gujaf-367	283	10	foundation	foundation	PROPN
gujaf-367	283	11	paper	paper	PROPN
gujaf-367	284	1	no	no	INTJ
gujaf-367	284	2	.	.	PUNCT
gujaf-367	285	1	905	905	NUM
gujaf-367	285	2	.	.	PUNCT
gujaf-367	286	1	cowles	cowles	PROPN
gujaf-367	286	2	foundation	foundation	PROPN
gujaf-367	286	3	for	for	ADP
gujaf-367	286	4	research	research	NOUN
gujaf-367	286	5	in	in	ADP
gujaf-367	286	6	economics	economic	NOUN
gujaf-367	286	7	,	,	PUNCT
gujaf-367	286	8	yale	yale	PROPN
gujaf-367	286	9	university	university	PROPN
gujaf-367	286	10	.	.	PUNCT
gujaf-367	287	1	rajan	rajan	PROPN
gujaf-367	287	2	,	,	PUNCT
gujaf-367	287	3	r.	r.	PROPN
gujaf-367	287	4	,	,	PUNCT
gujaf-367	287	5	&	&	CCONJ
gujaf-367	287	6	subramanian	subramanian	PROPN
gujaf-367	287	7	,	,	PUNCT
gujaf-367	287	8	a.	a.	NOUN
gujaf-367	287	9	(	(	PUNCT
gujaf-367	287	10	2023	2023	NUM
gujaf-367	287	11	)	)	PUNCT
gujaf-367	287	12	.	.	PUNCT
gujaf-367	288	1	the	the	DET
gujaf-367	288	2	impact	impact	NOUN
gujaf-367	288	3	of	of	ADP
gujaf-367	288	4	external	external	ADJ
gujaf-367	288	5	debt	debt	NOUN
gujaf-367	288	6	on	on	ADP
gujaf-367	288	7	economic	economic	ADJ
gujaf-367	288	8	growth	growth	NOUN
gujaf-367	288	9	in	in	ADP
gujaf-367	288	10	developing	develop	VERB
gujaf-367	288	11	countries	country	NOUN
gujaf-367	288	12	:	:	PUNCT
gujaf-367	288	13	a	a	DET
gujaf-367	288	14	critical	critical	ADJ
gujaf-367	288	15	review	review	NOUN
gujaf-367	288	16	.	.	PUNCT
gujaf-367	289	1	development	development	NOUN
gujaf-367	289	2	policy	policy	PROPN
gujaf-367	289	3	review	review	PROPN
gujaf-367	289	4	,	,	PUNCT
gujaf-367	289	5	41(2	41(2	NUM
gujaf-367	289	6	)	)	PUNCT
gujaf-367	289	7	,	,	PUNCT
gujaf-367	289	8	265	265	NUM
gujaf-367	289	9	-	-	SYM
gujaf-367	289	10	283	283	NUM
gujaf-367	289	11	.	.	PUNCT
gujaf-367	290	1	reinhart	reinhart	PROPN
gujaf-367	290	2	,	,	PUNCT
gujaf-367	290	3	c.	c.	PROPN
gujaf-367	290	4	m.	m.	PROPN
gujaf-367	290	5	,	,	PUNCT
gujaf-367	290	6	reinhart	reinhart	PROPN
gujaf-367	290	7	,	,	PUNCT
gujaf-367	290	8	v.	v.	PROPN
gujaf-367	290	9	r.	r.	PROPN
gujaf-367	290	10	,	,	PUNCT
gujaf-367	290	11	&	&	CCONJ
gujaf-367	290	12	rogoff	rogoff	PROPN
gujaf-367	290	13	,	,	PUNCT
gujaf-367	290	14	k.	k.	PROPN
gujaf-367	290	15	(	(	PUNCT
gujaf-367	290	16	2020	2020	NUM
gujaf-367	290	17	)	)	PUNCT
gujaf-367	290	18	.	.	PUNCT
gujaf-367	291	1	debt	debt	NOUN
gujaf-367	291	2	and	and	CCONJ
gujaf-367	291	3	growth	growth	NOUN
gujaf-367	291	4	:	:	PUNCT
gujaf-367	291	5	new	new	ADJ
gujaf-367	291	6	evidence	evidence	NOUN
gujaf-367	291	7	from	from	ADP
gujaf-367	291	8	low	low	ADJ
gujaf-367	291	9	-	-	PUNCT
gujaf-367	291	10	income	income	NOUN
gujaf-367	291	11	countries	country	NOUN
gujaf-367	291	12	.	.	PUNCT
gujaf-367	292	1	journal	journal	PROPN
gujaf-367	292	2	of	of	ADP
gujaf-367	292	3	international	international	ADJ
gujaf-367	292	4	money	money	NOUN
gujaf-367	292	5	and	and	CCONJ
gujaf-367	292	6	finance	finance	NOUN
gujaf-367	292	7	,	,	PUNCT
gujaf-367	292	8	100	100	NUM
gujaf-367	292	9	,	,	PUNCT
gujaf-367	292	10	84	84	NUM
gujaf-367	292	11	-	-	SYM
gujaf-367	292	12	108	108	NUM
gujaf-367	292	13	.	.	PUNCT
gujaf-367	293	1	sachs	sachs	PROPN
gujaf-367	293	2	,	,	PUNCT
gujaf-367	293	3	j.	j.	PROPN
gujaf-367	293	4	d.	d.	PROPN
gujaf-367	293	5	(	(	PUNCT
gujaf-367	293	6	1986	1986	NUM
gujaf-367	293	7	,	,	PUNCT
gujaf-367	293	8	1989	1989	NUM
gujaf-367	293	9	)	)	PUNCT
gujaf-367	293	10	.	.	PUNCT
gujaf-367	294	1	the	the	DET
gujaf-367	294	2	debt	debt	NOUN
gujaf-367	294	3	overhang	overhang	NOUN
gujaf-367	294	4	problem	problem	NOUN
gujaf-367	294	5	of	of	ADP
gujaf-367	294	6	developing	develop	VERB
gujaf-367	294	7	countries	country	NOUN
gujaf-367	294	8	.	.	PUNCT
gujaf-367	295	1	paper	paper	NOUN
gujaf-367	295	2	presented	present	VERB
gujaf-367	295	3	in	in	ADP
gujaf-367	295	4	memorial	memorial	NOUN
gujaf-367	295	5	to	to	ADP
gujaf-367	295	6	carlos	carlos	PROPN
gujaf-367	295	7	diaz	diaz	PROPN
gujaf-367	295	8	-	-	PUNCT
gujaf-367	295	9	alejandro	alejandro	PROPN
gujaf-367	295	10	,	,	PUNCT
gujaf-367	295	11	helsinki	helsinki	PROPN
gujaf-367	295	12	.	.	PUNCT
gujaf-367	296	1	sambo	sambo	PROPN
gujaf-367	296	2	,	,	PUNCT
gujaf-367	296	3	a.	a.	PROPN
gujaf-367	296	4	,	,	PUNCT
gujaf-367	296	5	&	&	CCONJ
gujaf-367	296	6	johnson	johnson	PROPN
gujaf-367	296	7	,	,	PUNCT
gujaf-367	296	8	r.	r.	PROPN
gujaf-367	296	9	(	(	PUNCT
gujaf-367	296	10	2023	2023	NUM
gujaf-367	296	11	)	)	PUNCT
gujaf-367	296	12	.	.	PUNCT
gujaf-367	297	1	debt	debt	NOUN
gujaf-367	297	2	servicing	servicing	NOUN
gujaf-367	297	3	,	,	PUNCT
gujaf-367	297	4	fiscal	fiscal	ADJ
gujaf-367	297	5	policy	policy	NOUN
gujaf-367	297	6	,	,	PUNCT
gujaf-367	297	7	and	and	CCONJ
gujaf-367	297	8	economic	economic	ADJ
gujaf-367	297	9	growth	growth	NOUN
gujaf-367	297	10	in	in	ADP
gujaf-367	297	11	african	african	ADJ
gujaf-367	297	12	economies	economy	NOUN
gujaf-367	297	13	:	:	PUNCT
gujaf-367	297	14	a	a	DET
gujaf-367	297	15	panel	panel	NOUN
gujaf-367	297	16	data	datum	NOUN
gujaf-367	297	17	approach	approach	NOUN
gujaf-367	297	18	.	.	PUNCT
gujaf-367	298	1	african	african	ADJ
gujaf-367	298	2	journal	journal	PROPN
gujaf-367	298	3	of	of	ADP
gujaf-367	298	4	economic	economic	ADJ
gujaf-367	298	5	policy	policy	NOUN
gujaf-367	298	6	,	,	PUNCT
gujaf-367	298	7	32(2	32(2	NUM
gujaf-367	298	8	)	)	PUNCT
gujaf-367	298	9	,	,	PUNCT
gujaf-367	298	10	135	135	NUM
gujaf-367	298	11	-	-	SYM
gujaf-367	298	12	150	150	NUM
gujaf-367	298	13	.	.	PUNCT
gujaf-367	299	1	gusau	gusau	PROPN
gujaf-367	299	2	journal	journal	PROPN
gujaf-367	299	3	of	of	ADP
gujaf-367	299	4	accounting	accounting	NOUN
gujaf-367	299	5	and	and	CCONJ
gujaf-367	299	6	finance	finance	NOUN
gujaf-367	299	7	,	,	PUNCT
gujaf-367	299	8	vol.6	vol.6	PROPN
gujaf-367	299	9	,	,	PUNCT
gujaf-367	299	10	issue	issue	NOUN
gujaf-367	299	11	1	1	NUM
gujaf-367	299	12	,	,	PUNCT
gujaf-367	299	13	april	april	PROPN
gujaf-367	299	14	,	,	PUNCT
gujaf-367	299	15	2025	2025	NUM
gujaf-367	299	16	62	62	NUM
gujaf-367	299	17	shabbir	shabbir	NOUN
gujaf-367	299	18	,	,	PUNCT
gujaf-367	299	19	s.	s.	PROPN
gujaf-367	299	20	(	(	PUNCT
gujaf-367	299	21	2009	2009	NUM
gujaf-367	299	22	)	)	PUNCT
gujaf-367	299	23	.	.	PUNCT
gujaf-367	300	1	does	do	AUX
gujaf-367	300	2	external	external	ADJ
gujaf-367	300	3	debt	debt	NOUN
gujaf-367	300	4	affect	affect	VERB
gujaf-367	300	5	economic	economic	ADJ
gujaf-367	300	6	growth	growth	NOUN
gujaf-367	300	7	:	:	PUNCT
gujaf-367	300	8	evidence	evidence	NOUN
gujaf-367	300	9	from	from	ADP
gujaf-367	300	10	developing	develop	VERB
gujaf-367	300	11	countries	country	NOUN
gujaf-367	300	12	.	.	PUNCT
gujaf-367	301	1	state	state	NOUN
gujaf-367	301	2	bank	bank	PROPN
gujaf-367	301	3	of	of	ADP
gujaf-367	301	4	pakistan	pakistan	PROPN
gujaf-367	301	5	research	research	PROPN
gujaf-367	301	6	department	department	PROPN
gujaf-367	301	7	working	working	PROPN
gujaf-367	301	8	paper	paper	PROPN
gujaf-367	301	9	series	series	NOUN
gujaf-367	301	10	63	63	NUM
gujaf-367	301	11	.	.	PUNCT
gujaf-367	302	1	shkolnyk	shkolnyk	PROPN
gujaf-367	302	2	.	.	PUNCT
gujaf-367	303	1	i	i	PRON
gujaf-367	303	2	&	&	CCONJ
gujaf-367	303	3	koilo	koilo	PROPN
gujaf-367	303	4	,	,	PUNCT
gujaf-367	303	5	v.	v.	PROPN
gujaf-367	303	6	(	(	PUNCT
gujaf-367	303	7	2018	2018	NUM
gujaf-367	303	8	)	)	PUNCT
gujaf-367	303	9	.	.	PUNCT
gujaf-367	304	1	the	the	DET
gujaf-367	304	2	relationship	relationship	NOUN
gujaf-367	304	3	between	between	ADP
gujaf-367	304	4	external	external	ADJ
gujaf-367	304	5	debt	debt	NOUN
gujaf-367	304	6	and	and	CCONJ
gujaf-367	304	7	economic	economic	ADJ
gujaf-367	304	8	growth	growth	NOUN
gujaf-367	304	9	:	:	PUNCT
gujaf-367	304	10	empirical	empirical	ADJ
gujaf-367	304	11	evidence	evidence	NOUN
gujaf-367	304	12	from	from	ADP
gujaf-367	304	13	ukraine	ukraine	NOUN
gujaf-367	304	14	and	and	CCONJ
gujaf-367	304	15	other	other	ADJ
gujaf-367	304	16	emerging	emerge	VERB
gujaf-367	304	17	economies	economy	NOUN
gujaf-367	304	18	.	.	PUNCT
gujaf-367	305	1	investment	investment	NOUN
gujaf-367	305	2	management	management	NOUN
gujaf-367	305	3	and	and	CCONJ
gujaf-367	305	4	financial	financial	ADJ
gujaf-367	305	5	innovations	innovation	NOUN
gujaf-367	305	6	,	,	PUNCT
gujaf-367	305	7	15(1	15(1	NUM
gujaf-367	305	8	)	)	PUNCT
gujaf-367	305	9	,	,	PUNCT
gujaf-367	305	10	387	387	NUM
gujaf-367	305	11	-	-	SYM
gujaf-367	305	12	400	400	NUM
gujaf-367	305	13	.	.	PUNCT
gujaf-367	306	1	siddique	siddique	NOUN
gujaf-367	306	2	,	,	PUNCT
gujaf-367	306	3	a.	a.	PROPN
gujaf-367	306	4	,	,	PUNCT
gujaf-367	306	5	selvanathan	selvanathan	PROPN
gujaf-367	306	6	,	,	PUNCT
gujaf-367	306	7	e.a	e.a	PROPN
gujaf-367	306	8	.	.	PROPN
gujaf-367	306	9	&	&	CCONJ
gujaf-367	306	10	selvanathan	selvanathan	PROPN
gujaf-367	306	11	,	,	PUNCT
gujaf-367	306	12	s.	s.	PROPN
gujaf-367	306	13	(	(	PUNCT
gujaf-367	306	14	2015	2015	NUM
gujaf-367	306	15	)	)	PUNCT
gujaf-367	306	16	.	.	PUNCT
gujaf-367	307	1	the	the	DET
gujaf-367	307	2	impact	impact	NOUN
gujaf-367	307	3	of	of	ADP
gujaf-367	307	4	external	external	ADJ
gujaf-367	307	5	debt	debt	NOUN
gujaf-367	307	6	on	on	ADP
gujaf-367	307	7	economic	economic	ADJ
gujaf-367	307	8	growth	growth	NOUN
gujaf-367	307	9	:	:	PUNCT
gujaf-367	307	10	empirical	empirical	ADJ
gujaf-367	307	11	evidence	evidence	NOUN
gujaf-367	307	12	from	from	ADP
gujaf-367	307	13	highly	highly	ADV
gujaf-367	307	14	indebted	indebted	ADJ
gujaf-367	307	15	poor	poor	ADJ
gujaf-367	307	16	countries	country	NOUN
gujaf-367	307	17	(	(	PUNCT
gujaf-367	307	18	discussion	discussion	NOUN
gujaf-367	307	19	paper	paper	NOUN
gujaf-367	307	20	)	)	PUNCT
gujaf-367	307	21	.	.	PUNCT
gujaf-367	308	1	university	university	NOUN
gujaf-367	308	2	of	of	ADP
gujaf-367	308	3	western	western	PROPN
gujaf-367	308	4	australia	australia	PROPN
gujaf-367	308	5	,	,	PUNCT
gujaf-367	308	6	busin	busin	PROPN
gujaf-367	308	7	.	.	PUNCT
gujaf-367	309	1	solow	solow	PROPN
gujaf-367	309	2	,	,	PUNCT
gujaf-367	309	3	r.	r.	PROPN
gujaf-367	309	4	m.	m.	PROPN
gujaf-367	309	5	(	(	PUNCT
gujaf-367	309	6	1955	1955	NUM
gujaf-367	309	7	-	-	SYM
gujaf-367	309	8	1956	1956	NUM
gujaf-367	309	9	)	)	PUNCT
gujaf-367	309	10	.	.	PUNCT
gujaf-367	310	1	the	the	DET
gujaf-367	310	2	production	production	NOUN
gujaf-367	310	3	function	function	NOUN
gujaf-367	310	4	and	and	CCONJ
gujaf-367	310	5	the	the	DET
gujaf-367	310	6	theory	theory	NOUN
gujaf-367	310	7	of	of	ADP
gujaf-367	310	8	capital	capital	NOUN
gujaf-367	310	9	.	.	PUNCT
gujaf-367	311	1	review	review	NOUN
gujaf-367	311	2	of	of	ADP
gujaf-367	311	3	economic	economic	ADJ
gujaf-367	311	4	studies	study	NOUN
gujaf-367	311	5	,	,	PUNCT
gujaf-367	311	6	23(2	23(2	NUM
gujaf-367	311	7	)	)	PUNCT
gujaf-367	311	8	,	,	PUNCT
gujaf-367	311	9	101	101	NUM
gujaf-367	311	10	-	-	SYM
gujaf-367	311	11	108	108	NUM
gujaf-367	311	12	the	the	DET
gujaf-367	311	13	world	world	PROPN
gujaf-367	311	14	bank	bank	PROPN
gujaf-367	311	15	(	(	PUNCT
gujaf-367	311	16	2019	2019	NUM
gujaf-367	311	17	)	)	PUNCT
gujaf-367	311	18	.	.	PUNCT
gujaf-367	312	1	world	world	NOUN
gujaf-367	312	2	development	development	NOUN
gujaf-367	312	3	indicators	indicator	NOUN
gujaf-367	312	4	(	(	PUNCT
gujaf-367	312	5	wdi	wdi	PROPN
gujaf-367	312	6	)	)	PUNCT
gujaf-367	312	7	.	.	PUNCT
gujaf-367	313	1	https://data.worldbank	https://data.worldbank	PROPN
gujaf-367	313	2	yekini	yekini	PROPN
gujaf-367	313	3	,	,	PUNCT
gujaf-367	313	4	s.	s.	PROPN
gujaf-367	313	5	,	,	PUNCT
gujaf-367	313	6	&	&	CCONJ
gujaf-367	313	7	tunde	tunde	PROPN
gujaf-367	313	8	,	,	PUNCT
gujaf-367	313	9	o.	o.	PROPN
gujaf-367	313	10	(	(	PUNCT
gujaf-367	313	11	2025	2025	NUM
gujaf-367	313	12	)	)	PUNCT
gujaf-367	313	13	.	.	PUNCT
gujaf-367	314	1	the	the	DET
gujaf-367	314	2	role	role	NOUN
gujaf-367	314	3	of	of	ADP
gujaf-367	314	4	debt	debt	NOUN
gujaf-367	314	5	servicing	servicing	NOUN
gujaf-367	314	6	in	in	ADP
gujaf-367	314	7	the	the	DET
gujaf-367	314	8	economic	economic	ADJ
gujaf-367	314	9	development	development	NOUN
gujaf-367	314	10	of	of	ADP
gujaf-367	314	11	west	west	PROPN
gujaf-367	314	12	africa	africa	PROPN
gujaf-367	314	13	:	:	PUNCT
gujaf-367	314	14	a	a	DET
gujaf-367	314	15	panel	panel	NOUN
gujaf-367	314	16	data	datum	NOUN
gujaf-367	314	17	approach	approach	NOUN
gujaf-367	314	18	.	.	PUNCT
gujaf-367	315	1	african	african	ADJ
gujaf-367	315	2	development	development	PROPN
gujaf-367	315	3	review	review	PROPN
gujaf-367	315	4	,	,	PUNCT
gujaf-367	315	5	37(1	37(1	NUM
gujaf-367	315	6	)	)	PUNCT
gujaf-367	315	7	,	,	PUNCT
gujaf-367	315	8	24	24	NUM
gujaf-367	315	9	-	-	SYM
gujaf-367	315	10	40	40	NUM
gujaf-367	315	11	.	.	PUNCT