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Financial Report

973 words - 4 pages

Corruption Perceptions Index (CPI) annually ranking countries "by their perceived levels of corruption, as determined by expert assessments and opinion surveys."[1] The CPI generally defines corruption as "the misuse of public power for private benefit."[2] The CPI currently ranks 176 countries "on a scale from 100 (very clean) to 0 (highly corrupt)."[3]According to Corruption Perceptions Index(2013), South Korea is ranked no.46 highly clean countries with a score of 55 comparing to Zimbabwe’s score of 21 which is only above 20 countries. Despite the higher score, South Korea’s data has less variation than Zimbabwe’s due to the larger number of survey used (10 comparing to 8) and narrower ...view middle of the document...

Corruption levels and forms vary with the regime type within which it occurs. The level of corruption and the form it takes is also varying rather systematically with the political setting. Corruption levels and forms vary with the regime type within which it occurs. (Friedrich 1993:16). That is, the more the power is legitimate, the less corruption.
Corruption might cause a lot of harm to individual, business and the politic. For individual aspect, corruption may results in costly fines, penalties and erodes the quality of life. For businesses’ aspect, corruption may have a negative impact on business reputation, increase the cost of running it and jeopardises M&A and inhibits ability to conduct transctions in capital markets. For political aspect, corruption may impede democracy and the rule of law, hampers the development of markets (Grant Thronton)
Corruption within the political system is a threat to foreign investment. By enabling people to assume positions of power through patronage rather than ability, it introduces inherent instability into the political process thereby distorting the economic and financial environment.
Gandhi warned against what he called seven social sins, namely politics without principle, wealth without work, commerce without morality, pleasure without conscience, education without character, science without humanity and worship without sacrifice.(deadly sins)
There is no doubting that Zimbabwe has collapsed because of unprecedented corruption in all facets of our society.
Political risk refers to the risk that the government will do something bad like expropriate funds or refuse to pay foreign debt. There are many factors associated with political risk such as nationalization, contract repudiation, tax and regulation, exchange controls, corruption and ethnic violence etc. According to the Euromoney index(2013), the political risk of Zimbabwe is at tier 5 which is the riskiest level whereas South Korea is at Tier 2. In this case, I would rate the overall political risk of Zimbabwe and South Korea as very risky and low risk perceptively. Zimbabwe has declined dramatically due to increasing...

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