What is the relationship between corruption in a country and economic growth?

There is an increasing volume of literature on the relationship between corruption and economic growth, and the general conclusion is that corruption slows down the long-term growth of an economy through a wide range of channels. Nigeria: Corruption which is equal to monopoly plus discretion, minus accountability has serious impediment to sustainable development especially in developing countries. It has stolen the wealth of resource rich nations like Nigeria thereby making people to be trapped in poverty. The overall effect of corruption on economic development is negative. Corruption is unethical and Nigeria government is fighting corruption albeit, very costly and against all odds. The obasanjos 4th republic enacted the anti-corruption law in 2000 as part of its commitment to stamp out corruption from the country. Nigeria is the most corrupt country on earth among 89 countries in the world. Corruption reduces the Nigerian amount and quality of infrastructure and services supplied to the nation as whole. How have changes in technology contributed to globalization of market and production? Would the production markets is possible without these technological changes?
Changes in technology have contributed towards globalization. The improvements of technology make our lives much more convenience. And, the advanced technology in microprocessors, Internet, and transportation enable the spreading out of globalization. Without telephones you couldn't call a company mile away and about ordering their products. People advertise on the internet, Telemarketers, Even transportation. Machines also can speed up manufacturing products so that more of them can be made faster and distribute. Telecommunication is creating a global audience. Transportation is creating a global village. In other words, the changing in technology would lead to an influence on globalization of markets and globalization of production. The widely use in microprocessors and telecommunications increasing the amount of information being transferred, but lower its cost. This is very helpful in emerging markets. The opportunities for companies to expend businesses are raised, due to plummeting in global communication cost. The decreasing cost in transportation, many businesses move their manufacturing plants to nations that provide cheaper raw materials and nature resources, in order to diminishing their production cost.

The three main changes in technology (microprocessors, Internet, and transportation) have a great supportive to the globalization of markets and production. If the lower cost of communication does not exist, people around the world would not have so many chances to connect with others and business would not be willing to put money to widen their markets....as a result of the technological innovations, the real costs of information processing and communication have fallen dramatically in the past two decades. These developments make it possible for a firm to create and then manage a globally dispersed production system, so without these technologies it's not possible to have such globalization of markets or even production. A developing nation like Nigeria, that aspire to participate effectively and becoming a key player in the emerging information age needs to have in a place a highly efficient technology system driven by a vibrant national it policy that helps in globalization.

African countries must rise up to these challenges of globalization and they must do everything possible to put an end to this 21st Century slavery. The developing countries should seek adequate representation at international meetings where the issues are discussed, and they should cooperate to coordinate research and apply available expertise in carrying out the factual data gathering and analysis that reveal the true impact of the issue in developing countries. In addition, certain prerequisites, such as reliable power supply to operate the computers, a wellfunctioning telephone network to transmit data, foreign currency to import the technology, and the computer literate personnel are necessary for successful use of IT. It is disheartening to note that such infrastructural elements remain inadequate in many Sub-Saharan African countries. Due to this globalization of production and market not so much expand in this area because both things are rely on technology. What are the implication of international business difference in dominant religion and ethical system of country? Differences in the dominant religion of a country affect relationships, attitudes toward business, and overall economic development. First, differences in religion require inter-cultural sensitivity. This sensitivity requires things like simply knowing the religious holidays, accepting that some unexpected things may happen "because of Allah's will," or understanding how interpersonal relationships may be different between "believers" and "non-believers. Basic, unarticulated assumptions about what has value, what is right and wrong, and what constitutes good are embedded in our religions. Should rules or laws apply to all people all the time (in the US, the answer here is probably yes); or should they change depending on the circumstances of the particular situation (in Asia, the answer would be, of course)? Religion plays a basic, influential role in our most fundamental values and the norms that arise from them. So if an international business venture faces a different dominant religion in its foreign market, managers there will have to make special efforts to understand what really underlying practice differences are.