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All Journal JEJAK Ekonomi Bisnis
Igbinedion, Sunday Osahon
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Economics, Econometrics & Finance

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Corruption and Economic Growth in West Africa Ighodaro, Clement Atewe; Igbinedion, Sunday Osahon
JEJAK: Jurnal Ekonomi dan Kebijakan Vol 13, No 2 (2020): September 2020
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/jejak.v13i2.24228

Abstract

The level of corruption in West Africa has become very worrisome based on the data from the corruption perception index of transparency international. Corruption may subvert due process; reduce accountability; lead to unequal distribution of goods and services and limit the reliance of the masses on government. The objective of the paper was to examine the link between corruption and economic growth in West Africa. Data used span from 2000 to 2018 with a cross section of fifteen West Africa countries and the use of panel fully modified ordinary least squares. With the use of the Im, Pesaran, and Shin stationarity which allows for heterogeneous version of the Dickey Fuller test, it was found that the variables used were integrated of order one and long run equilibrium relationship existed based on the Pedroni cointegration method. Only foreign direct investment did not meet the a priori expectation. The result supports the ‘grease on the wheel hypothesis’. This implies that corruption and economic growth have direct relationship in West Africa. Corruption and economic growth were found to also support the U-shaped hypothesis which means that different corruption level affect economic growth in different ways. However, corruption does not lead to efficient and effective outcomes hence should not be allowed at any level of governance.
Capital Expenditure Dynamics and Infrastructural Growth Nexus: Evidence from an oil - dependent economy Igbinedion, Sunday Osahon; Nnadozie, Obianuju Ogochukwu
Ekonomi Bisnis Ekonomi Bisnis, Volume 26, No.2, July 2021
Publisher : Departemen Manajemen Fakultas Ekonomi dan Bisnis Universitas Negeri Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.17977/um042v26i2p109-128

Abstract

The role of infrastructure in promoting economic development has long been acknowledged in the economic literature. In Nigeria, the basic physical infrastructure deficit has been identified as a major drag in the country's prospects for development. One major source of infrastructure financing is government capital expenditure. Unfortunately, capital expenditure over the years has been characterized by wide fluctuations, with attendant consequences on the level of infrastructural development. Thus, this study seeks to investigate the nexus between capital expenditure dynamics and infrastructural performance within the Nigerian context, utilizing the Fully Modified Ordinary Least Square (FMOLS) and Error correction procedure (ECM) and data from 1981 to 2018. Findings suggest that both capital expenditure dynamics and inflation rate have a negative and statistically significant impact on the level of infrastructure while the impact of foreign aid on infrastructural development was positive and significant. Accordingly, we recommend among others, the need for a suitable macroeconomic and regulatory framework that will encourage active private sector participation to sustainably support infrastructure investment. The monetary authorities can complement such efforts by implementing policies that will guarantee at most single-digit inflation rate in the economy.
Co-Authors Ighodaro, Clement Atewe Nnadozie, Obianuju Ogochukwu