Kleptocracy, Nepotism, Kakistrocracy: Impact of Corruption in Sub-Saharan African Countries

International Journal of Economics and Accounting, Forthcoming

25 Pages Posted: 13 May 2011 Last revised: 31 Jan 2013

See all articles by Collins Emeka Okafor

Collins Emeka Okafor

Texas A&M International University

Murphy Smith

Texas A&M University-Corpus Christi-Department of Accounting

Nacasius Ujah

South Dakota State University - Department of Economics

Date Written: 2013

Abstract

The adverse effect of corruption has been widely investigated in literature. Corruption is said to hamper both economic and human development. A foe of transparency and ethical business ambiance, corruption promotes a trans-lucid accounting milieu. In this paper we investigate the impact of corruption in structuring a country’s governmental accounting framework in a set of Sub-Saharan countries. This paper contributes to the research literature regarding corruption and government accountability, by developing a new index measure of accountability, which incorporates socio-economic indicators of government accountability. Using this index, results of analysis indicate that corruption has a significant negative relationship with the quality of the government accounting framework and with economic development in the Sub-Saharan countries included in the study.

Keywords: Kleptocracy, Nepotism, Kakistrocracy, Economic Development, Government Accounting Framework

JEL Classification: G15, H1

Suggested Citation

Okafor, Collins Emeka and Smith, Murphy and Ujah, Nacasius, Kleptocracy, Nepotism, Kakistrocracy: Impact of Corruption in Sub-Saharan African Countries (2013). International Journal of Economics and Accounting, Forthcoming. Available at SSRN: https://ssrn.com/abstract=1839968 or http://dx.doi.org/10.2139/ssrn.1839968

Collins Emeka Okafor

Texas A&M International University ( email )

5201 University Blvd
Laredo, TX 78041-1900
United States

Murphy Smith (Contact Author)

Texas A&M University-Corpus Christi-Department of Accounting ( email )

6300 Ocean Dr
Corpus Christi, TX 78412
United States

Nacasius Ujah

South Dakota State University - Department of Economics ( email )

Brookings, SD 57007-0895
United States

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