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The Economics of Corruption in Nigeria

The Economics of Corruption in Nigeria

          
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About the Book

This book is an exposition of corruption in Nigeria, its economic costs, social and cultural implications and attitudinal reposition to rule of law and respect to the constitution of the Federal Republic of Nigeria to stamp out corruption, restore integrity and national consciousness. It discusses the nature and extent of corruption in Nigeria as well as the pathways to mitigating its negative impacts on the overall economy. The negative impacts of corruption, and its attendant costs are huge, enormous and unprecedented. The book has eight compactly written chapters. Chapter one is the introductory section. Chapter two discusses Nigeria's perception of corruption. Chapter three highlights the drivers of corruption. Chapter four discusses the remote causes of corruption in Nigeria. Chapter five is an expository on factors influencing the economics of corruption. Chapter six explains exhaustively the Nigeria's macroeconomic management side-by-side with corruption. Chapter seven elaborates briefly on the cost of corruption. Finally, chapter eight discusses how to control corruption in a highly corrupt environment such as Nigeria. It conceptualized the definition of corruption in two ways - commonsense application and economic approach so as to discuss meaningfully what corruption stands for the rest of the paper. In each approach, the conceptual definition of corruption as a phenomenon will stress on the reflective meaning embedded in the society. Imposingly, mental construct of this monster has destroyed the objective reasoning of a greater percentage of the productive population and value system with direct effect on the economy. Consequently, hard work and merit have taken back position giving way to easy money and demerit at the expense of productivity. Again, it conceptualized in Nigeria from the moral sense, economic and legal points of view. While the commonsense approach is a moralistic concept where those involved in the act have moral commitment to do so and build up good reasons to justify their corrupt behaviour. The moral concept is a manifestation of both attitude and choice to influence behaviour (corruption). Attitude and behaviour are very individualistic, and functions side-by-side depending on the prevailing rules and norms in the state or society. The economic concept is the manifestation of rational behaviour of public officials with power and discretion to leverage on selfish interest. As a rational behaviour the phenomenon of corruption is based on rules, norms and values that are inconsistent and variable in rent seeking political officers, bureaucrats who invoke moral justifications for breaking the law. The Legal concept is the act of law breaking that is a combination of attitude and behaviour which constitute illegality and unethical practices to maximize personal gain. Corruption in this sense is seen differently by different economists, political scientists, sociologists, public administrators, historians and criminal law depending on the theoretical approach and empirical analysis employed. From the policy dimension the three main cause of corruption are namely the lawyer's approach, the business approach and the economic approach. The legal approach refers to laws of the state or rules and norms that control the operation of the state, regulations and policies for smooth running of activities of the public officials and the populace. There are laws against bribery and fraud, regulations for campaign contributions, campaign spending and rules for moral behaviour and to enhance business integrity and conformity to professional standards of conduct while the business approach refers to the degree to which business transactions engross in improper practices prevail in the public sphere. The economic approach examines the link between corruption and economic performance focusing more on the prevailing weakness of public institutions and distortion of economic policies that gave rise to rent seeking s


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Product Details
  • ISBN-13: 9798581049013
  • Publisher: Independently Published
  • Publisher Imprint: Independently Published
  • Height: 229 mm
  • No of Pages: 134
  • Spine Width: 8 mm
  • Width: 152 mm
  • ISBN-10: 858104901X
  • Publisher Date: 02 Jan 2021
  • Binding: Paperback
  • Language: English
  • Returnable: N
  • Weight: 208 gr


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