“…In this regard, understanding the impact of external debt on growth is important. In addition, we 4 A growing number of studies show the novel coronavirus outbreak made markets very volatile and disrupted global economic activity in various ways (see, e.g., Devpura and Narayan, 2020;Fu and Shen, 2020;Haroon and Rizvi, 2020;Iyke, 2020a,b;Mishra et al, 2020;Narayan, 2020;Phan and Narayan, 2020;Salisu and Adediran, 2020;Salisu and and Akanni, 2020;Vidya and Prabheesh, 2020).…”