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THE EFFECT OF CORRUPTION ON ECONOMIC SUSTAINABILITY AND GROWTH IN NIGERIA
Abstract
Corruption in contemporary era has dent growth and economic sustainability in developed and especially developing economies. Such is evidence in the Nigerian context. In 2013 cum 2014 the economy was rated one of the fastest growing in relation to her vision 2020:20. The reverse is the case owing to corruption undermining economic growth and sustainability in Nigeria. This study then, scrutinize the extent upon which corruption have undermine economic growth proxide by (GDP) as its prime objective. The study adopts the Classical Linear Regression Model (CLRM) by means of secondary data from 1999-2016 with an array of other universal/customary and analytical tests. The R2 of the CLRM result shows that 94% of the variation in GDP is explained by the prime regressors. Corruption, and exchange was established positive and significant affiliation, while unemployment, and inflation rate negative and non-significant affiliation. The above therefore conforms to empirical and conventional theoretical viewpoint to corruption undermining growth and sustainability habitually and globally.
Keywords: Corruption, economic growth, sustainability, model stability