Corruption and Economic Growth in Nigeria (1980-2013)

Corruption and Economic Growth in Nigeria (1980-2013)

Gross domestic product

Government consumption

Inflation

Unemployment growth and corruption

Corruption is as aged as the existence of man and it exists in all sphere of human life. The  persistency  of  corruption  erodes  the  social  economic  value  of  a  nation. The study investigates the relationship between corruption and economic growth in Nigeria, in the period 1980-2013, using the VAR analysis. The study finds the existence of long-term relationship between corruption and unemployment growth on the economic growth of Nigeria. Also, the study found no short-term relationship in corruption and unemployment on economic growth. Hence, the result in the analysis shows that corruption positively has a strong influence on the output of Nigeria. So the rise in growth rate experienced in Nigeria is influenced by high corruption rate in the country, which is making the few rich to be richer, eradicating the middle class and making the poor to be poorer. Therefore, there is a need to develop political will to prosecute anyone found guilty of corruption irrespective of their position, tribe, religion or party affiliation. Such a punishment would also serve as a deterrent to others and help improve real economic growth and development.

W, Ibrahim

Sheu A, Okunade

Artha Journal of Social Sciences; Vol. 14 No. 4 (2015): Artha Journal of Social Sciences; 1-16

0000-0000

0975-329X

Centre for Publications, CHRIST (Deemed to be University), Bangalore

2015-10-01

Copyright (c) 2016 Artha - Journal of Social Sciences

http://creativecommons.org/licenses/by-nc/4.0

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eng

info:eu-repo/semantics/article

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Peer-reviewed Article

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