The Effect of Corruption on Economic Growth in Nigeria

Yusuf Oke Lawal, Emmanuel Oladapo George, Isiaq Oseni and Babatunde Okuneye
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Yusuf Oke Lawal: Department of Economics, Olabisi Onabanjo University Ago Iwoye, Ogun State, Nigeria
Emmanuel Oladapo George: Department of Economics, Olabisi Onabanjo University Ago Iwoye, Ogun State, Nigeria
Babatunde Okuneye: Department of Economics, Olabisi Onabanjo University Ago Iwoye, Ogun State, Nigeria

Business & Management Compass, 2020, issue 1, 65-78

Abstract: Previous empirical studies have appraised efforts of the government in fighting corruption in Nigeria. In spite of this, corruption has been identified as one of the hindering factors for attaining the desirable economic growth. This study therefore examines the effect of corrup-tion on economic growth in Nigeria between 1987 and 2017 using secondary time series data sourced from the Transparency Interna-tional, Central Bank of Nigeria (CBN) Statistical Bulletin and World Development Indicators (WDI). Data were analysed using Ordinary Least Squares (OLS) techniques and Barro model. The result shows a negative significant relationship between corruption and economic growth and recommends that the government should strengthen the anti-corruption agencies in order to comprehensively fight corruption in Nigeria.

Keywords: Corruption; economic growth; corruption pyra-mid; transparency inter-national and ordinary least square (search for similar items in EconPapers)
JEL-codes: C30 D72 D73 F42 O40 (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:vrn:journl:y:2020:i:1:p:65-78

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