摘要: This paper empirically investigates the effect of corruption on economic growth for 18 African countries using panel unit root and Phillips-Hansen fully modified OLS procedures. The results from IPS tests indicate that corruption, growth, investment, population have zero order integration [i.e. I(o)]. procedure reveal retards directly by lowering productivity, indirectly restricting investment. From a policy perspective, efforts should be made to discourage corruption.
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