How corruption affects the economy of a Nation?

[Bookwormlux1]

Many underdeveloped countries are suffering because their leaders are too corrupt. They steal money meant for developing the country to save in banks abroad and also to send their children to expensive schools while their Citizens suffer due to lack of infrastructural development and swift policies that would provide an enabling environment for businesses to thrive.
With This, less businesses succeed and then the economy doesn't improve, thus making life difficult.
How else does corruption affects a nation's economy?

 

[Sariana23]

What you write in this thread you are absolutely right, I think it is the worst that can happen to countries. We are currently experiencing a similar situation in my country. Corruption is such that 15 years ago we had a great time, with stable salaries, quality medical care, food was obtained and it could be bought with a salary. Today we are in decline. The population is getting poorer while the leaders continue to get rich.

 

[Donkiz]

Corruption is a terrible disease that mitigate against the growth of any economy that allows it to thrive. Most people in authority as so concerned about how to enrich themselves and their families to the detriment of the masses, so all they care about is to siphon the treasury of their country and convert it to their personal use.

 

[Adeyoola7]

Not only does corruption affect economic development in terms of economic efficiency and growth, it also affects equitable distribution of resources across the population, increasing income inequalities, undermining the effectiveness of social welfare programmes and ultimately resulting in lower levels of human ..

 

[giddy]

Not only does corruption affect economic development in terms ofeconomic efficiency and growth, it alsoaffects equitable distribution of resources across the population, increasing income inequalities, undermining the effectiveness of social welfare programmes and ultimately resulting in lower levels of human,seriously if we continue mentioning the effects of corruption on any economy, it has no end

 

[Ibrahim1]

Yes you right but not only all underdeveloped country alone but also to does developed country such as Nigeria. Corruption as killed this country seriously (Nigeria) to the extend if you didn't give our policemen 50# they can shot the person dead, have never heard where snake swallow money even monkey stolen money but I heard that in my country (Nigeria) so tell me how we really want this corruption end but the only way is only if we stand as one and kill them all then the children will learn from that

 

[chicnthin]

Corruption is one of the worst thing that a nation can face, mostly its citizens.

The people select whom they thought to be rightful leaders, but they only steal from the people's money in return.

In relation to the economy of the country, the allocated funds is being corrupted by those who are in authority, and we have to put up with poor quality results of infrastructures.

 

[Nurudeen]

Another way through which corruption can affect a nation's economy is insecurity and lack of foreign direct investors coming to the country to invest. For example in my country, some government officials have siphoned the budget meant for security, hence, there is massive insecurity Which is making foreign direct investors not to come to ghe country for investment purpos.

 

[Ralphjoe]

Corruption doesn't create a conducive environment for Businesses to thrive. This reminds me of government contract in which several companies will bid for, instead of the government to give the contract to the most suitable company for the job, you will find out that they ends up giving the contract to their own companies that they have large stake thereby denying the money circulating in the country as that will lead to there not being cash injection into the economy.

 

[Ridorz]

You made a point, this is good article. The one of major changes of nation economy is corruption. Any nation that its government corrupt can not have a good economy and economy is the what can make nation developed.

 

[WhiteHouse]

Corruption is one of the strongest constraints that impact the economic growth negatively. This involves the maltreatment of authority in the appearance of money or influence to attain certain purposes in illegal ways. A corrupted economy cannot function properly as the corruption prevents the natural laws to be followed in that country.

The more corrupt a country is, the lower is the economic growth. Following are some points that say it all about the negative impacts of the corruption on the economic growth.

 

[Trexxxy]

Corruption is a bane in today's society, any society or economy infested with corruption will find it hard to move forward, needless to say , a lot of things will be affected , development will be stunted and it won't be an enabling environment for business owners .

 

[Stardex]

Corruption affects the economy of a nation in the sense that a nation cant prosper if its money is diverted else where(stolen) for a country to be prosperous, corruption must be curbed In its roots. Practitioners should be prosecuted properly and used as a message to others not to indulge in the act.

 

[Kinglegend01]

Many underdeveloped countries are suffering because their leaders are too corrupt. They steal money meant for developing the country to save in banks abroad and also to send their children to expensive schools while their Citizens suffer due to lack of infrastructural development and swift policies that would provide an enabling environment for businesses to thrive.
With This, less businesses succeed and then the economy doesn't improve, thus making life difficult.
How else does corruption affects a nation's economy?

Corruption is one of the major cause of the state of underdeveloped countries.its effects include poverty, tribal discrimination and racism( in a multi racial community) and bad governance.
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Corruption is one of the major cause of the state of underdeveloped countries.its effects include poverty, tribal discrimination and racism( in a multi racial community), bad governance and it also hinders the growth and development of the state

 

[Success05]

Many underdeveloped countries are suffering because their leaders are too corrupt. They steal money meant for developing the country to save in banks abroad and also to send their children to expensive schools while their Citizens suffer due to lack of infrastructural development and swift policies that would provide an enabling environment for businesses to thrive.
With This, less businesses succeed and then the economy doesn't improve, thus making life difficult.
How else does corruption affects a nation's economy?

Corruption is a cankerworm, it reduces a nation with a good economic prospect to nothing, it's not all about embezzlement of funds, it's about the leaders having a poor mental outlook to the needs of the people hence they think about themselves all the time..... majority of the third world countries are currently battling with this disease, it spreads and kill faster than Corona virus.

 

[Ojonuyo]

Indeed corruption is that poison that spreads faster than a snake bite and cause great damage to that state. Corruption stems its roots from greed. Greed has been the major reason why so many countries suffer economically. Everyone , most especially the leaders are not concerned about their followers or the growth of their country

Once leader is appointed into power, the next though on his mind Is the fastest possible ways to amass the country wealth. And by so doing causing great damage to the country and it citizens


What's so disheartening about such act is that, those leaders once promised to give the citizen and the nation a better life. Once they get to power , all their promises become story.

 

[Sincerem]

Many underdeveloped countries are suffering because their leaders are too corrupt. They steal money meant for developing the country to save in banks abroad and also to send their children to expensive schools while their Citizens suffer due to lack of infrastructural development and swift policies that would provide an enabling environment for businesses to thrive.
With This, less businesses succeed and then the economy doesn't improve, thus making life difficult.
How else does corruption affects a nation's economy?

Corruption is the leader of of all kinds of crime. It is most in my country, where political leaders only think for them alone. Self centered people everywhere, this corrupt people have made the economy not too grow. Because they are stealing the country's funds and not utilizing it on proper project. My country need revamping, and resurgent, lot of corrupt leaders are dragging it backward.

 

[chalcedony8]

Corruption is actually the main insurgency all countries in the world need to purge themselves from, a corrupted economy cannot grow, there will be no development at all, it hinders the growth of all this citizens as only few people will benefit from all the things that is meant for all, and as long as the citizens are not developing the country can't develop too.

 

[Mary]

You're right, corruption is like a seed that is growing in the heart of our political leaders, this is really affecting the market economy of mostly undeveloped countries bbecause the country funds are spent only among the leaders

 

[Maliha]

Corruption has its own adverse effects on the economy.it hinders the development of economy and create obstacles.corruption also destroys the rights of people.humans rights have adversely detroyed because the amount of money that has to be invested on people would not be available to be spent.corruption also distributes to poor education because the funds are robbed.