This website uses cookies to ensure you have the best experience. Learn more

Corruption And Its Impact On Economic Growth And Development.

10433 words - 42 pages

ProposalThe world view today is directed towards concepts of sustainable development and the acquisition of progressively higher standards of living .Growth without development is being criticised as being an ephemeral and increasingly deceptive indicator of the actual state of the economy .Concepts like population growth which erode economic growth and education and health which enhance human capital accumulation are gaining a lot of importance and are being touted as being as essential to the development of an economy as the growth rate of its GDP .Efficiency is being advocated at all levels of .the world outlook has now transitioned from the sustenance of regulated economies to a liberalization of the world economy. The precedence give to efficiency I is also bringing to focus factors which interfere with its implementation. It is in this regard that corruption, a relatively new phenomenon is gaining widespread importance in economic circles. What distinguishes corruption from other indictors is essentially the fact that it is non-quantifiable concept.While measures of growth, education and access to health facilities are easily available, it is extremely difficult to actually assess the level of underhand dealings in an economy. The lack of concrete information makes any corruption measure largely susceptible to biases and subjectivity. To augment is, depending on the definition of corruption for any single economy. Our project is aimed at waiving the problems encountered in comprehending the exact nature of the relationship between corruption and economic development. To this effect .we have attempted to do the following:- Formulate an acceptable definition of corruption and justify it; for the purposes of our study we have defined corruption as the abuse of public office for private gain.- Present a theoretical framework in which to view the effect of corruption on growth; we have presented annotated summaries for acceptable theories about corruption. At the same time we have ventured to formulate our own hypotheses about the corruption-development relationship.- Test the theoretical base for empirical validity; By conducting a cross-sectional study we attempted to discern the practical significance of corruption. For the purpose of the best we formulated our own model of economic development, using both theory and relevant econometric tools. In the wake of this we have rejected and accepted several theories.- Arrive at a suitable conclusion as to what the exact link is between corruption and economic development.- Present remedies and solutions to the problems associated with corruption; these solutions are proffered at both a micro and macro level- If possible, attempt a time series analysisOur study has also acquainted us with economic relationships which digress from our main analysis but which are nevertheless educating. We were able to discern a highly interesting relationship whereby corruption was found to be more relevant to...

Find Another Essay On Corruption and its Impact on Economic Growth and Development.

Corruption and its impact on the full enjoyment of human rights, in particular economic, social and cultural rights

4308 words - 17 pages the impact of corruption on the realization and enjoyment of all human rights in particular economic, social and cultural rights.The decision to entrust me with this mandate also took into consideration the discussion held during the forty-fourth session of the Sub-Commission that corruption should be condemned and that those guilty of corruption should face international justice if they escaped national jurisdiction. The Economic Social Council

Economic Development and its Repercussion on Environment

985 words - 4 pages human being is that they keep doing without thinking and they keep thinking without doing. Several economic developments have been undertaken without considering its impact on environment and several environmental saving schemes have been formed without following and applying it in the real life practices. To save our earth and the future generation we have to think for sustainable development. Sustainable development is the development that meets

Economic Development and its Repercussion on Environment

985 words - 4 pages human being is that they keep doing without thinking and they keep thinking without doing. Several economic developments have been undertaken without considering its impact on environment and several environmental saving schemes have been formed without following and applying it in the real life practices. To save our earth and the future generation we have to think for sustainable development. Sustainable development is the development that meets

FDI and its Impacts on Economic Growth: Albania Case

1110 words - 5 pages empirical evidence on the relation of FDI and economic growth is ambiguous, although it is generally believed that foreign direct investment generates positive effects on the economy of host countries. FDI can play an important role in promoting economic development and modernizing a national economy through the capital financing it provides and the benefits to the local economy such as: managerial skills and know-how, the adoption of foreign

Effects of Corruption on Economic Growth

517 words - 2 pages evils in the society & once corruption start take place ,slowly and gradually whole country passes through its net and it becomes after some time incurable diseases .from the economic point of view ,there seem to be no clear cut correlation between corruption and the economic growth of a country. There may be some social maladies like inequality of income among the people ,moral degradation of people due to the prevalence of corruption ,the

China: Economic growth and Regional Development

4286 words - 17 pages economic zones" (SEZ) along the coast. This Is because the chief architect of economic reform Deng Xiaoping, believed that a large country such as China could not achieve rapid economic growth in all its various regions simultaneously, both urban development and economic growth have been uneven across the country. For example, in 2001, 50 per cent of all FDI went to just three locations--Guangdong province, next to Hong Kong, Shanghai, and Jiangsu

Impact of Globalization on Russia’s Political and Economic Development

1644 words - 7 pages governments clamor for. An economic theory posits that the free movement of capital would pave the way to a maximum provision of resources and the union of open and competitive financial markets and services. Moreover, a more liberalized capital movement would help in maintaining a more responsible macro-economic regulation that would further support growth and development through direct investments. For many individuals, this capital movement

Impact of Foreign Remittances on Economic Growth and Poverty Reduction in Pakistan

2476 words - 10 pages inflow and its implication for economic growth and poverty reduction in Pakistan. By using ARDL approach study analyzed the impact of remittances inflow on economic growth and poverty in Pakistan for the period 1973-2007.The study specify two independent models to deal with remittances, growth and poverty. To explore the impact of remittances on economic Growth, GDP is taken as dependent variable while remittances as percentage of GDP, gross fixed

The Impact of the Central Bank and Long run Economic Growth on the Economy

2173 words - 9 pages influences the economy in everything they do. A government’s main aims for an economy are: • Economic Growth, and • Economic Stability Employment The government employs millions of people. For example the UK government employs NHS workers, Police, Civil Servants, HM Revenue and customs, border patrol, etc. If the UK government decided to cut its workforce by 50% the UK would face mass unemployment, and there would be millions of people possibly on

The impact of early presidential foreign and economic policies on the growth of the nation

524 words - 2 pages profit, but Hamilton argued that the government needed to pay off its debts otherwise America wouldn't have investors that it greatly needed. In the end, Hamilton agreed on a compromise. While in office Washington had many great accomplishments. One of his greatest accomplishments came in 1791 when he signed the national bank charter. It was called the Bank of the United States. The government would deposit money from taxes in the Bank, and the

The Impact of the Central Bank and Long run Economic Growth on the Economy

1129 words - 5 pages Introduction To what extent is the central bank responsible for stabilizing the economy? Is LREC really vital to economic growth? In this assignment I will look deeper into these questions. This is important because economic stability depends on it, and without giving this topic thought thousands of households could be facing another looming recession. In this essay I will evaluate the three questions given with regards to the central bank and

Similar Essays

He Role Of Economic Geography In Economic Development And The Impact Of Ict On Economic Growth

2233 words - 9 pages countries are armed with good communications. On the contrary, some writers believe that geography still matters a great deal for economic interaction and for the spatial distribution of income.To discuss, I will concentrate on the role of economic geography in economic development and the impact of ICT on economic growth. From the existing inequality of economic development, we can see distance still matters in terms of economic transactions and

The Growth And Corruption Correlation: Its Impact On The Achievement Of Middle Income Status

3079 words - 12 pages I INTRODUCTIONThat corruption adversely affects economic development has become commonplace knowledge. Corruption damages economic development and keeps people poor. As Vaclav Havel, former Czech President (October 2001) observed: Corruption may either deter investment or render it less productive through its adverse impact on the risk and cost of doing business.There appears to be worrisome evidence of a perception of high levels of corruption

Economic Growth And Development Essay

820 words - 3 pages . Thus it is evident that economic development does not always lead to an improvement in living standards, due to its limited scope and inability to impact the non materialistic aspects of human life. Bibliography: - http://www.questia.com/PM.qst?a=o&d=5000372316 - http://www.bized.ac.uk/learn/economics/development/growth/index.htm - http://www.msu.edu/user/smythdav/growth.htm - Morris, Arthur, (1998).Geography and Development

Economic Growth And Development Essay

1354 words - 5 pages 1)Distinguish between economic growth and economic development.Economic growth is a measure of a county’s productivity and the total combined income of that country. Economic development is a measure of how developed a country is i.e. people’s standard of living. For economic development to occur, economic growth also is needed but economic development is not needed for economic growth to occur.BasisEconomic DevelomentEconomic