Authors: Collins Okafor; L. Murphy Smith; Nacasius U. Ujah
Addresses: A.R. Sanchez Junior Business School, Texas A&M International University, 5201 University Blvd, Laredo, TX, 78041, USA ' Arthur J. Bauernfeind College of Business, Murray State University, 351 Business Building, Murray, KY, 42071-3314, USA ' A.R. Sanchez Junior Business School, Texas A&M International University, 5201 University Blvd, Laredo, TX, 78041, USA
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 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; kakistocracy; economic development; government accounting framework; Sub-Saharan Africa; corruption; government accountability; socio-economic indicators.
International Journal of Economics and Accounting, 2014 Vol.5 No.2, pp.97 - 115
Received: 08 May 2021
Accepted: 12 May 2021
Published online: 20 Jul 2014 *