Central Bank of Nigeria, Research Department
Corruption, Economic growth
The paper considers that corruption and all aspects of poor governance and weak institutions have significant adverse effects on economic growth and welfare.The paperâ€™s objective is to study, formally, these interactions among the individuals engaged in corruption, and between the individual and the corrupt political class. In doing this, two models involving strategic complementarities that lead to multiple equilibrium were used to show these relationships.
Musa, A. U. (2007). The persistence of corruption and slow economic growth: a review. CBN Economic and Financial Review, 45(4), 79-84.