Abstract
This research investigates the impact of corruption on Economic growth in Nigeria from 1996-2017. Data were collected from the Central Bank of Nigeria Statistical Bulletin, Debt Management office and Transparency International. The study examines the stochastic characteristics of each time series by testing their stationarity using Augmented Dickey-Fuller (ADF) test. The study also employed ECM for estimation. Variables used in this study included corruption perception index (proxy for corruption), per capita gross domestic product (proxy for economic growth), unemployment rate, stock of domestic debt and domestic debt service payment. The results of the study suggest that an indirect relationship exists between economic growth and corruption in Nigeria though in an insignificant fashion. This implies that economic growth is affected by corruption but not to the extent over hyped by various experts. With this finding it was recommended that the government while fighting this menace should also channel resources to increasing employment levels and domestic borrowing while taking measures to ensure that borrowed funds should be channeled to developmental purposes so that the returns on borrowed funds will outweigh the cost of borrowing it.
TABLE OF CONTENTS
Title Page…………………………..........……..........…………….……………………………. 1
Dedication………………………...………………….…………………………..……………….2
Table of contents……………………........…………..…………………………....……......……..3
Abstract……………………………......……………..………………………..……….………….4
Chapter one: Introduction……………..……6
Chapter Two: Literature Review....................8
Chapter Three: Research Methodology...........14
Chapter Four: Data Presentation and Analysis.................17
Chapter Five: Conclusion and Recommendation......20
APPENDIX I DATA OF VARIABLES USED ..............24
APPENDIX II REFERNCES........25
APPENDIX III AUGMENTED DICKEY-FULLER (ADF) TEST RESULT........27
APPENDIX IV COINTEGRATION TEST RESULT.....30
APPENDIX V ERROR CORRECTION MECHANISM (ECM) RESULTS.....33
Emmanuel, O. (2018). THE IMPACT OF CORRUPTION ON NIGERIA’S ECONOMIC DEVELOPMENT: AN ERROR CORRECTION MECHANISM (ECM) APPROACH (1996-2017). Afribary. Retrieved from https://tracking.afribary.com/works/okeme-work1
Emmanuel, Okeme "THE IMPACT OF CORRUPTION ON NIGERIA’S ECONOMIC DEVELOPMENT: AN ERROR CORRECTION MECHANISM (ECM) APPROACH (1996-2017)" Afribary. Afribary, 22 Nov. 2018, https://tracking.afribary.com/works/okeme-work1. Accessed 09 Nov. 2024.
Emmanuel, Okeme . "THE IMPACT OF CORRUPTION ON NIGERIA’S ECONOMIC DEVELOPMENT: AN ERROR CORRECTION MECHANISM (ECM) APPROACH (1996-2017)". Afribary, Afribary, 22 Nov. 2018. Web. 09 Nov. 2024. < https://tracking.afribary.com/works/okeme-work1 >.
Emmanuel, Okeme . "THE IMPACT OF CORRUPTION ON NIGERIA’S ECONOMIC DEVELOPMENT: AN ERROR CORRECTION MECHANISM (ECM) APPROACH (1996-2017)" Afribary (2018). Accessed November 09, 2024. https://tracking.afribary.com/works/okeme-work1