Economists argue that one of the factors behind the differing economic development in Africa and Asia is that in Africa, corruption has primarily taken the form of rent extraction with the resulting financial capital moved overseas rather than invested at home (hence the stereotypical, but often accurate, image of African dictators having Swiss bank accounts). In Nigeria, for example, more than $400 billion was stolen from the treasury by Nigeria's leaders between 1960 and 1999.
Economists argue that one of the factors behind the differing economic development in Africa and Asia is that in Africa , corruption has primarily taken the form of rent extraction with the resulting financial capital moved overseas rather than invested at home ( hence the stereotypical , but often accurate , image of African dictators having Swiss bank accounts ) . In Nigeria , for example , more than $ 400 billion was stolen from the treasury by Nigeria 's leaders between 1960 and 1999 .
What form has corruption taken in Africa?
What form has corruption taken in Africa ?
rent extraction
rent extraction