The Consequences of Corruption on Economic Growth…
By Adebayo Nelson Johnson
Considerable research attention has focused on the potential negative consequence of corruption, the possible economic effects of corruption, the political and social consequences of corruption, and the effects of corruption on sustainable economic development in Sierra Leone.
The theory that I shall seek to elaborate here puts considerable emphasis on the corrosive effects of corruption on people’s trust in the actors and institutions of government in Sierra Leone, the effects of public-sector corruption on attitudes related to political support, the consequences of corruption on growth in GDP per capital, and the links among welfare, sustainable development, and corruption.
Keywords: political, social, corruption, government, economic development
- Introduction
In Sierra Leone, There have been few comprehensive assessments of what research has learned about the impact of corrupt officials on ordinary citizens, the costs of corruption and poor governance, the underlying causes of corruption and weak governance, and the role of income and wealth as both a cause and a consequence of corruption.
I as a professional controversial Journalist ,I am particularly interested in exploring the impact of democracy on corruption, the underlying conditions that create corrupt incentives, the propensity of the public employee to engage in corrupt behavior, and the relationship between regulations, institutions, and corruption. The purpose of this write up, is to gain a deeper understanding of the nexus between institutional trust as a function of the interaction of educational achievement and corruption, public perceptions of increased corruption, corruption as a key factor hampering socioeconomic policies, and the harmful effects of corruption.
- The Effects of Corruption on Sustainable Economic Development
Aidt takes a critical look at the link between corruption and economic development. Corruption is a persistent feature of human societies, affecting adversely many of the proxy causes of economic growth, and may have little average effect on the growth rate of real GDP per capita. High levels of corruption go hand in hand with a lack of political accountability and with disrespect for property rights. There is a strong negative correlation between corruption and growth in genuine wealth per capita, applying equally to perceived corruption’ actual experience with corruption. The “greasing the wheels hypothesis” presumes that corruption can help in situations where other aspects of governance are deficient and/or economic policy is inefficient: the relationship between corruption and economic growth must be conditional on governance structures and/or economic policy.
Now the question is! Who is fooling who here?
