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ANALYSIS OF CORRUPTION AND ECONOMIC GROWTH IN NIGERIA

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ANALYSIS OF CORRUPTION AND ECONOMIC GROWTH IN NIGERIA

 

 

ABSTRACT

This paper studied corruption and the Nigerian economic growth. In doing this, the study looked at historical overview of corruption in Nigeria and conceptual issues were also discussed. It also reviewed the causes and effects of corruption, without leaving out the dynamics of corruption. Also, the study looked at the relationship between corruption and the Nigerian economic growth. However, the study introduces a new perspective on the role of corruption in economic growth and provides quantitative estimates of the impact of corruption on the economic growth in Nigeria as well as their causal relationship. This study used the ordinary least squares (OLS) to determine the relationship between corruption and economy growth. The study applied the granger causality method to measure the causal relationship that exists between corruption and the gross domestic product (GDP). The results revealed that corruption impairs and impacts economic growth. It is on this basis, we draw our conclusion and suggest that Private Anti-Corruption Initiatives, Public anti-corruption initiatives andPublic education campaign/programmes should be strengthened and motivated in to address the cause of corruption rather than its effects.

 

Key Words: Growth, Granger Causality, Corruption, Nigeria, Economic