How corruption affects the economy of a Nation?

[Seun4luv]

Not only doe 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

 

[Prettyjanie]

Corruption is like a cankerworm, that has eating deep into the society. Most countries today, are under developed due to corrupt leaders. Resources meant for the good of the country, is being personalized by the government as a result nothing is functioning.

 

[MarieArie]

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 doesn't stop at the point it is initiated. Neither does it start at the point where there's an advantage and avenue for them to execute this devilish plans. It starts from the grassroots. When I say grassroots, I mean the home. If a child is trained to be faithful, even at the slightest opportunity, the child won't give in to ridiculous acts. And that's how it grows.

 

[Tito4u]

Corruption is very bad and deadly that it can kill a whole nation. Corruption eats deep into the resources of a particular setting or place, it could be a country, a company, a business or even a family. Therefore, practicing corruption can paralyse an economy or individual totally because it's not easy to fight.

 

[redpogi16]

Not only does corruption affect economic theres so many things happen if corruption is involved in one nation these are development in terms of economic efficiency and growth, it also affects equitable distribution of resources across the population, increasing income inequalities. These are the things affecting economy.
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Not only does corruption affect economic theres so many things happen if corruption is involved in one nation these are development in terms of economic efficiency and growth, it also affects equitable distribution of resources across the population, increasing income inequalities. These are the things affecting economy.

 

[Kiwi]

Corruption is a terrible disease that mitigate against the growth of any economy that allows it to thrive. Corruption is one of the worst thing that a nation can face, mostly its citizens. 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.

 

[Profuk57]

I think corruption have affected the economy of Nigeria in so many different ways one of the ways corruption have destroyed Nigeria economy is true Direct foreign investment Nigeria have a dwindling directory
Investments due to the High corruption in the country, which have lead to inflation all over Nigeria.

 

[Bookwormlux1]

Corruption lives and was born in 3rd world countries. Sadly , my country is no exception. It will be very difficult to stop corruption,the only way it can be reduced is to make public offices less attractive.and monies released for the day to day running of the country should be explained and accounted for by the public office holders openly.if not managed well,then capital punishment will be executed.

Until people learn to do productive things that would fetch them money, corruption would still continue. So many politicians are only interested in the money they are going to earn while in office. They do not even think of investing, but would rather steal money meant for development of their constituencies.

 

[Youngdee]

The impact of corruption goes beyond the corrupt individuals, the innocent colleagues who are implicated, or the reputation of the organisations they work for. Corruption erodes the trust we have in the public sector to act in our best interests. It also wastes our taxes or rates that have been earmarked for important community projects meaning we have to put up with poor quality services or infrastructure, or we miss out altogether.

 

[Sammyesx]

Corruption affects so many aspect of a countries development,it is a good enough reason for the economy of drop, it leads to the embezzlement of fund that would have been used for useful project project that would improve the countries economy

 

[Chumzy]

Corruption cripples the life blood of a nation it affects and ensures stagnation. This is very pervelant in the African economy and it has stifled their development. Corrupt leaders are still the biggest problems of the poor countries of the world today.

 

[Kingsley]

Corruption affects every sphere of the economy but the government and business world. Corruption reduces the chances a country might have to atract foreign investment or investors because investors will perceive such business environment as unsafe and unhealthy for business to thrive.

 

[eenya001]

Corruption in my opinion does not only affect the economy of a nation but it also kills the growth and well-being of any nation, because money or resources that is meant to be used in the development of the Nation is being cornered into the pocket of some greedy individuals.

 

[Urooj]

Corupption greatly effects the growth of any nation and effect economy.it hinder development n destroy people's rights.corruption moves middle class people toward more poverty.....

 

[Papikarl]

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?

You have said it all, corruption kills the nation and eats it from the inside just like a woodworm eats out a tree, it makes the nation stagnant without any development. It increases poverty and lack of security for the the citizens. Economy remains the same or in most cases it dwindles.

 

[Lyrrex]

Not only does corruption affect economicdevelopment in terms ofeconomicefficiency and growth, it alsoaffectsequitable 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

 

[Chizfab]

They also do that through huge tax on small and medium businesses, and when the business owners falls to meet up with the tax, it can fold up the business because the tax enforcers will frustrate your efforts. Lack of power and adequate infrastructure can lead to decline in the Operation of business. Lack of proper financial aid to small and medium businesses.
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They also do that through huge tax on small and medium businesses, and when the business owners falls to meet up with the tax, it can fold up the business because the tax enforcers will frustrate your efforts. Lack of power and adequate infrastructure can lead to decline in the Operation of business. Lack of proper financial aid to small and medium businesses.

 

[Shayo]

Corruption in a nation is like a cankerworm, it is destructive and eats deep into the root causing lasting damage if not quickly curbed.
I think corruption in present in a nations just that, it is more prevalent in some than the others. Corruption affects the economy, affects businesses, public and private sectors, education and health.

 

[Bookwormlux1]

Not only does corruption affect economicdevelopment in terms ofeconomicefficiency and growth, it alsoaffectsequitable 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

I agree with you. Corruption also gives a negative reputation to citizens of that country. You get to see discrimination of all sort when people from other nations find out you are from a country where corruption thrives.

 

[Goodday]

Corruption is just a disease and when it affects a particular nation, the nation we suffers from growth. Most at times this corrupt people are always the leaders of the nation and because of that they do whatever they can do just to have more money rather than concerning about the nation.