Corruption and globalization: The interconnections and impact on Nigerian economic development

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Published Dec 30, 2022
https://doi.org/10.47434/JEREDA.3.3.2022.342
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Vol. 3 No. 3 (2022)

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Abosede Abimbola Usoro
Department of Business Management, University of Calabar, Nigeria.
James O. Otiwa
Department of Business Management, University of Calabar, Nigeria.
Juliana Baby Akaegbu
Department of Business Management, University of Calabar, Nigeria.

Abstract

Introduction: Corruption as well as globalization, has remained key issues of considerable academic and professional concerns owing to their influences on national economic outcomes. These phenomena remained complex concepts with many dimensions on nation’s ambition. In spite of growing recognition of the contributions of globalization to nation’s development, underdeveloped countries continue to benefit minimally due to the interaction with overwhelming levels of corruption.


Purpose: This study examined the realism of the intertwined relationship between these phenomena with specific concern on the Nigerian economy. The study critically explored the interconnections between corruption and globalization with specific attention devoted to their overlapping roles in Nigeria’s economic development.


Methodology: The paper adopted an exploratory and narrative methodology in which a critic of extant germane studies were done.


Results: The study found out that globalization and corruption exerts negative influences on the economic development of Nigeria due to the levels of adoption.


Conclusion: The combined impact of low level of adoption of globalization and high rate of corruption is detrimental on all dimensions of Nigeria’s economic prosperity. 


Recommendation: Any significant economic growth will require a reversal of the trend, and this can be achieved through concerted efforts to embrace technology and to fight corruption, among others.

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This work is licensed under a Creative Commons Attribution 4.0 International License.

How to Cite
Usoro, A. A., Otiwa, J. O., & Akaegbu, J. B. (2022). Corruption and globalization: The interconnections and impact on Nigerian economic development. Journal of Educational Research in Developing Areas, 3(3), 342-351. https://doi.org/10.47434/JEREDA.3.3.2022.342
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