CORRUPTION, INVESTMENT AND ECONOMIC GROWTH IN WAEMU
Authors:
Adedodja Adedokoun Elie (PhD)
Abstract:
The persistence of corruption is perceived as one of the main factors affecting public and private investment. The objective of this paper is to analyze the effect of corruption on public and private investment in the West African Economic and Monetary Union (WAEMU) on the one hand and to assess their influence on economic growth on the other. Based on a dynamic panel model with simultaneous equations covering the eight WAEMU countries over the period 1995 to 2018, the findings show that corruption increases the volume of investment for corrosive effects on economic growth in the Union. Thus, the findings suggest the financial independence of each country’s anti-corruption bodies from the central state. The aim is to create a common fund called the “anti-corruption fund” within the Union to finance the activities of these various bodies.