HCBE Faculty Articles

Title

An Institutional and Architecture Based View of Corruption in Nigeria: An Analysis of a Developing Economy’s Formal and Informal Structures

Document Type

Article

Date

1-1-2013

Publication Title

Journal of Business Studies Quarterly

ISSN or ISBN

2152-1034

Volume

4

Issue

4

First Page

230

Last Page

239

Description

Corruption in Nigeria has been well documented. However, the basis for the corruption has not yet been fully explored. Some studies have approached corruption in Nigeria from a judiciary, executive, labor, and law enforcement perspective. This paper attempts to use an institutional and architectural perspective to glean into the nature and consequences of corruption in Nigeria. Despite its vast natural resources, the average Nigerian has not benefited from these resources due to the high level of greed and mismanagement allowed under the current market-based capitalism, which still lacks the requisite regulation. It is hoped that other developing economies with abundant natural resources, as is the case in Nigeria, using the matrix provided in this paper, can study the nature of the formal and informal institutions that exist within their boundaries.

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