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Economic Growth, Financial Development and Bank Failure: The Case of Corruption in Nigeria
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Author(s): Shafiu Ibrahim Abdullahi (Bayero University, Kano, Nigeria), Mukhtar Shuaibu (Kebbi State Polytechnic, Dakingari, Nigeria), Mustapha Yusufu (Federal College of Education, Yola Adamawa State Nigeria, Nigeria), Kamal Kabiru Shehu (Federal University of Kashere, Nigeria)and Abdul Rafay (University of Management and Technology, Pakistan)
Copyright: 2023
Pages: 20
Source title:
Concepts, Cases, and Regulations in Financial Fraud and Corruption
Source Author(s)/Editor(s): Abdul Rafay (University of Management and Technology, Pakistan)
DOI: 10.4018/978-1-6684-5007-9.ch006
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Abstract
Corruption is one of the main causes of inefficiency and poor productivity. This chapter looks at the relationship between banking failure, corruption, financial development, and economic growth in Nigeria during the period from 1989 to 2019. The work uses the autoregressive distributed lag (ARDL) cointegration and error correction model and the Granger causality test for the analysis of data. The results of the empirical analyses show a negative relationship between corruption and both financial development and economic growth. This shows that corruption is bad for both the financial sector and the economy. The result also shows that corruption is a good reason for causing bank failures in Nigeria. Hence, for financial development and economic growth, corruption must be reduced as much as possible if not eliminated. It is recommended to put the fight against all forms of corruption in Nigeria in top gear.
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