How Does Corruption Affect The Economy
Introduction
Corruption is a criminally reprehensible behavior by which a person (the bribed person) solicits, agrees, or accepts a gift, offer or promise, presents or benefits of any kind for accomplishing, delaying, or failing to perform an act coming directly or indirectly during his duties.
The offense has a twofold scope since it covers the existence of a corrupt and a corrupter. Thus, there is a distinction between active corruption, which is the act of the briber, and passive corruption, which is the work of the corrupt. The functions of the corrupt may be public as well as private, but their public character will result in a heavier penalty than that provided for private corruption.
Corruption is an international phenomenon that
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In an area where there is no objective data, the only way to collect data is to draw on the experience and perceptions of those who are most directly confronted with the realities of corruption in a country. This is the reason many economists use the CPI to study the causes and consequences of corruption.
Indeed, every year, Transparency International has published a list that indicates for each country how much corruption is perceived by the business community, the population, and the international community. It stems from several different studies that require both the perception of the country's residents and expatriates, businessmen, academics, and risk analysts. The CPI ranks countries according to perceived levels of corruption in public administrations and politicians. It ranges from 10: high integrity to 0: very corrupt.
Corruption affects the whole of society in a lot of ways and has a negative impact on economic growth around the world. Even though, international organizations seem to have understood the importance of fighting this problem, corruption is hard to perceive and quantify because of the lack of available data. However, the work of economists is increasingly identifying the determinants of corruption and countries like New Zealand or Denmark seem to be paving the way for more
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