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Kleptocracy, nepotism, kakistocracy: impact of corruption in Sub-Saharan African countries

Collins Okafor, L. Murphy Smith and Nacasius U. Ujah

International Journal of Economics and Accounting, 2014, vol. 5, issue 2, 97-115

Abstract: The adverse effect of corruption has been widely investigated in literature. Corruption is said to hamper both economic and human development. A foe of transparency and ethical business ambiance, corruption promotes a trans-lucid accounting milieu. In this paper we investigate the governmental accounting framework in a set of Sub-Saharan countries. This paper contributes to the research literature regarding corruption and government accountability, by developing a new index measure of accountability, which incorporates socio-economic indicators of government accountability. Using this index, results of analysis indicate that corruption has a significant negative relationship with the quality of the government accounting framework and with economic development in the Sub-Saharan countries included in the study.

Keywords: kleptocracy; nepotism; kakistocracy; economic development; government accounting framework; Sub-Saharan Africa; corruption; government accountability; socio-economic indicators. (search for similar items in EconPapers)
Date: 2014
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