Effect of Corruption on Economic Growth in Nigeria

Authors

  • O. E. Akpokerere Department of Banking and Finance School of Business Studies Delta State Polytechnic, Ozoro, Delta State.
  • I. J. Akpala Department of Banking and Finance School of Business Studies Delta State Polytechnic, Ozoro, Delta State.

Keywords:

Corruption, Economic Growth, Gross Domestic Product and Government Expenditure

Abstract

This research is carried out to investigate the “effect of corruption on
economic growth” with special emphasis on how corruption affect gross
domestic product, and government expenditure in the Nigerian economy,
covering a period of twenty seven years (1986-2012). Regression analysis
was used to analyze the data and the results show that there is negative
relationship between corruption and economic growth in Nigeria. Our
findings support the conventional wisdom, which stipulate that corruption
is detrimental to economic growth and development. It is a cankerworm that
has eaten into the fabric of the Nigeria economy. The research concludes
that corruption impact negatively on economy growth and development in
Nigeria. It is however recommended that government should intensify its
efforts in re-orientating the society against the ills of corruption by
establishing high ethical standard to which all and sundry should adhere.
Besides, stiffer sanctions should be imposed on those found guilty of corrupt
practices including death sentences.

Author Biography

I. J. Akpala, Department of Banking and Finance School of Business Studies Delta State Polytechnic, Ozoro, Delta State.



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Published

2014-12-01

How to Cite

Akpokerere, O. E., & Akpala, I. J. (2014). Effect of Corruption on Economic Growth in Nigeria. International Journal of Economic Development Research and Investment (IJEDRI), 5(3), 1–12. Retrieved from http://icidr.org.ng/index.php/Ijedri/article/view/878

Issue

Vol. 5 No. 3

Section

Articles