CORRUPTION AND ECONOMIC GROWTH IN NIGERIA (1980-2013)

W. Ibrahim and Sheu A. Okunade

Journal of Academic Research in Economics, 2016, vol. 8, issue 1 (March), 86-100

Abstract: 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 period 1980-2013, using the VAR analysis. The study finds the existence of long-run relationship in corruption and unemployment growth on economic growth in Nigeria. Also, the study found no short-run relationship in corruption and unemployment on economic growth. Hence, the result in the analysis shows that corruption has a positive 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 average class and making the poor to be poorer. Therefore, there is need to develop political will to prosecute anyone irrespective of position, tribe, religion or party affiliation found guilty of corruption to serve as deterrent to others, in order to improve real economic growth and development.

Keywords: gross domestic product; government consumption; inflation; unemployment growth and corruption. (search for similar items in EconPapers)
JEL-codes: A11 (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:shc:jaresh:v:8:y:2016:i:1:p:86-100

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