The level of crime in Nigeria has become devastating and in order to put more sanity into the economy and the country at large, the Government has embarked on different deterrence measures in curbing crime. Thus, this study examined the interaction of deterrence measures with crime in order to see how economic growth was affected when they were used in curbing crime at different instances. That is, the interaction of deterrence measures with crime informed us how they have helped in lowering crime in Nigeria for a better economic growth to subsist. The deterrence measures considered in this work are in line with the rational choice theory being the cost of crime imposed on the society. Furthermore, this study considered data from 1975 to 2013 with the use of autoregressive distributed lag model. Moreover, the results showed that crime dependency on deterrence measures asymmetrically constituted means of lowering economic growth in the country. Hence, this study suggested that prosecution should be well funded and in order to curb crime and improve economic growth in Nigeria. That is, this would afford the country to reduce the congestion of prison inmates and thus, it would discourage long waiting trials.
1. Abu, N., Abd Karim, M., Z., & Aziz, M. I. A. (2015). Low savings rates in the economic community of West African States (ECOWAS): the role of corruption. Journal of Economic Cooperation and Development 36, no. 2, pp.63-90.
2. Agbonika, J. A. M. (2014). Delay in the Administration of Criminal Justice in Nigeria: Issues from a Nigerian Viewpoint. Journal of Law, Policy and Globalization, 26, pp.130-138.
3. Badiora, A., Israel, O., Olasunkanmi, H., & Ojewale, O. S. (2014). Crime statistics in a Nigerian Traditional City: A Geographic Analysis. Journal of Asian and African Studies, pp.1-15.
4. Batabyal, S., & Chowdhury, A. (2015). Curbing corruption, financial development and income inequality. Progress in Development Studies 15, no. 1, pp.49-72.
5. Becker, G. S. (1968). Crime and punishment: An economic approach. Journal of Political Economy 66, no. 2, pp.169- 21.
6. Bodman, P. M., & Maultby, C. (1997). Crime, punishment and deterrence in Australia. International Journal of Social Economics 24, no 7/8/9, pp.884 - 901.
7. Central Bank of Nigeria. (2013). Central Bank of Nigeria Annual Report.The federal Republic of Nigeria.
8. Detotto, C., & Pulina, M. (2012). Does more crime mean fewer jobs and less economic growth? European Journal of Law and Economics 36, no. 1, pp.183-207.
9. Dima, S. (2014). The link between globalisation, economic growth and education: an analysis in the case of Romania. Studia Universitatis “Vasile Goldis” Arad Economics Series, 24, Issue 4, pp.94-103.
10. Egbo, O., Nwakoby, I., Onwumere, J., & Uche, C. (2012). Security votes in Nigeria: disguising stealing from the public purse. African Affairs, 00/00, 1-18.
11. Ehrlich, I. (1973). Participation in illegitimate activities: A theoretical and empirical investigation. The Journal of Political Economy 81, no. 3, pp.521-565.
12. Enamorado, T., López-Calva, L., F., & Rodríguez-Castelán, C. (2014). Crime and growth convergence: Evidence from Mexico. Economics Letters 125, pp.9-13.
13. Engle, R. F., & Granger, C. W. J. (1987). Co-Integration and error correction: representation, estimation, and testing. Econometrica 55, no. 2, pp.251-276.
14. Federal Ministry of Finance, Nigeria (FMFN). (2014). Challenges of budget 2013 implementation in budget 2014 -“A Budget for Jobs and Inclusive Growth”, http://www.budgetoffice.gov.ng/index.php/component/content/article/78-geralinformation/72-budget, accessed on16 June 2014.
15. Goulas, E., & Zervoyianni, A. (2015). Economic growth and crime: is there an asymmetric relationship? Economic Modelling 49, pp.286 -295.
16. Halicioglu, F. (2012). Temporal causality and the dynamics of crime in Turkey. International Journal of Social Economics 39, no. 9, pp.704 - 720.
17. Halicioglu, F., Andrés, A. R., & Yamamura, E. (2012). Modeling crime in Japan. Economic Modelling 29, no. 5, pp.1640-1645.
18. Japan International Cooperation Agency (JICA). (2011). The federal Republic of Nigeria Study for Poverty Profile (Africa) Final Report. Mitsubishi UFJ Research and Consulting Co. Ltd.
19. Mauro, L., & Carmeci, G. (2007). A poverty trap of crime and unemployment. Review of Development Economics 11, no. 3, pp.450-462.
20. Narayan, P. K. (2005). The saving and investment nexus for China: evidence from cointegration tests. Applied Economics 37, pp.1979-1990.
21. National Bureau of Statistics. (2011). Annual Abstract of Statistics. The Federal Republic of Nigeria.
22. National Bureau of Statistics. (2012). Social Statistics in Nigeria. The Federal Republic of Nigeria.
23. Network on Police Reform in Nigeria (NOPRIN). (2010). Criminal Force Torture, Abuse, and Extrajudicial Killings by the Nigeria Police Force. Open Society Institute, New York.
24. Ojedokun, U. A. (2014). Contributing Factors to Police Homicide in Nigeria. Police Journal: Theory, Practice and Principles 87, pp.41-48.
25. Ouimet, M. (2012). A World of Homicides: The Effect of Economic Development, Income Inequality, and Excess Infant Mortality on the Homicide Rate for 165 Countries in 2010. Homicide Studies 16, no. 3, pp.238-258.
26. Pesaran, B., & Pesaran, M., H. (2009). Time series econometrics using micro fit 5.0. Oxford University Press, Oxford.
27. Pesaran, M., H., Shin, Y., & Smith, R., J. (2001). Bounds testing approaches to the analysis of level relationships. Journal of Applied Econometrics 16, pp.289-326.
28. Pribac, L. I., Anghelina A., & Blaga R. L. (2016). Return on investment in education. Case study on education in Romania. Studia Universitatis “Vasile Goldis” Arad Economics Series, 26, Issue 1, pp.26-39.
29. Shyh-Wei, C. (2009). Investigating causality among unemployment, income and crime in Taiwan: evidence from the bounds test approach. Journal of Chinese Economic and Business Studies 7, no. 1, pp.115-125.
30. Stigler, G. J. (1974). The optimum enforcement of laws- essays in the economics of crime and punishment. Journal of Political Economy 78, pp.526-536.
31. Svensson, R. (2013). An Examination of the Interaction between morality and deterrence in Offending: A Research Note. Crime & Delinquency XX, no. X, pp.1 -16.
32. Vigne, N. L., & Samuels, J. (2012). The Growth & Increasing Cost of the Federal Prison System: Drivers and Potential Solutions. Urban Institute: Justice Policy Centre. http://www.urban.org/research/publication/growth-increasing-cost-federal-prison-systemdrivers-and-potential-solutions accessed 12 August 2015.
33. Witt, R., & Witte, A. (2000). Crime, Prison, and Female Labor Supply. Journal of Quantitative Criminology 16, no. 1, pp.69-85.
34. World Bank. (2014). World Bank Indicator for Development. http://data.worldbank.org/data-catalog/world-development-indicator accessed 4August 2014.