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Abstract:
This study investigates the impact of corruption on economic growth in Nigeria from 1997 to 2022. Using correlation analysis, Durbin-Watson statistics, Ordinary Least Squares (OLS) regression, and Granger Causality tests, we examine the relationship between corruption and economic growth. The findings reveal a significant negative correlation between corruption and economic growth, indicating that as corruption levels increase, economic growth declines. Furthermore, the OLS regression analysis demonstrates that corruption has a substantial adverse effect on economic growth in Nigeria during the study period. The results of the Granger Causality test indicate a causal relationship between corruption and economic growth, suggesting that corruption leads to a slowdown in economic growth. The Durbin-Watson statistics test the assumption of no serial correlation in the OLS regression model, providing evidence that the model's residuals are not autocorrelated. Overall, this study underscores the detrimental impact of corruption on Nigeria's economic growth trajectory, highlighting the urgent need for anti-corruption measures and institutional reforms to foster sustainable economic development.
