THE IMPACT OF CORRUPTION ON A NATIONAL ECONOMY: EVIDENCE FROM NIGERIA

THE IMPACT OF CORRUPTION ON A NATIONAL ECONOMY: EVIDENCE FROM NIGERIA

Author by Dr. Olusola Oluwalaiye

Journal/Publisher: Task Of Building Series

Volume/Edition: 1

Language: English

Pages: 217 - 227

Abstract

Corruption in Nigeria is endemic and its unparallel incidence has placed the country on the global map as the most corrupt nation on three occasions and presently as one of the most corrupt countries in the world. The unparallel incidence of corruption in the country has led to the gross mismanagement of the estimated $300 billion dollars earned so far from oil export since the country emerged as one of the world’s leading oil exporters in the 1970s. In providing evidence on the impact of corruption on the Nigerian economy we regressed the TI corruption index on variables, namely, investment, growth rate of per capita GDP, government spending on education, health and capital expenditure The evidence show that corruption in Nigeria correlates with investment, growth rate of per capita GDP, government spending on education and-health as expected but not statistically significant at the conventional levels. Therefore we suggest tentatively from our empirical analyses that corruption does not impact directly on the growth of the economy rather the weak institutions which has plagued the economy condone corruption hence impacting indirectly on the growth of the economy


Other Co-Authors