Essays on Corruption and Market Economy Assignment

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The paper "Corruption and Market Economy " is a good example of a macro & microeconomics assignment.   Corruption is the misuse or abuse of public office with the intention of personal gain. According to Balboa et al. (p. 12), corruption comes in different forms and in a broad array of illicit practices as well as behaviour such as fraud, graft, pilferage, falsification of records, extortion, nepotism as well as bribery. However, it should not be concluded that the private sector is free from corruption. Corruption cases are common in large private enterprises; however, these cases are often solved in private to avoid a bad reputation.

For instance, corrupt managers in the private sector often practice the vice when hiring as well during procurement processes. Moreover, Balboa et al. (p. 14) point out that corruption also exists in private activities, which are regulated by governments. In many corruption cases, the abuse of office with the intention of private gains is not usually for individual benefit, but for several people participating in the illegal deals. The majority of nations in both the developing and developed countries define corruption in the same way, as they all subscribe to the World’ s Bank view of corruption.

The World Bank defines corruption as the abuse of public office both in the private and public sector for personal or private gain (World Bank p. 2). As such, the World Bank proposes tough regulations on this vice. In effect, all nations have enacted laws, though they vary, which help to tackle corruption-related cases. For, instance many countries have laws that require public servants to disclose all their assets, as well as the annual income. In many countries more so in third world countries, the state’ s role is often carried out based on many regulations as well as laws.

In these countries, a state officer needs permits, licenses as well as authorizations in order to engage or continue engaging in various activities. These activities include taking part in foreign trade, borrowing money, acquiring a passport as well as running a business. All these activities often require specific authorization as well as documents.

Works Cited

Balboa, Jenny D., and Shinji Takenaka. Corruption and Development, Revisited. Philippine Institute for Development Studies, 2010.

Carr, Indira, and Opi Outhwaite. "Investigating the impact of anti-corruption strategies on international business: an interim report." (2013).

De Soto, Hernando. Mystery of capital: why capitalism triumphs in the West and fails everywhere else. Basic books, 2003.

Doig, A. and Riley, S. Chapter 3:Corruption and Anti- Corruption Strategies: Issues and Case Studies From Developing Countries. Retrieved December 11,2014 from http://magnet.undp.org/Docs/efa/corruption/Chapter03.pdf

Fisman, Raymond, and Roberta Gatti. "Decentralization and corruption: evidence across countries." Journal of Public Economics 83.3 (2002): 325-345.

Low, Lucinda A., Andrea K. Bjorklund, and Kathryn Cameron Atkinson. "Inter-American Convention against Corruption: A Comparison with the United States Foreign Corrupt Practices Act, The." Va. J. Int'l L. 38 (1997): 243.

Sampford, Charles John, et al. Measuring corruption. Ashgate, 2006.

The World Bank. “The Quality of Growth.” The International Bank for Reconstruction and Development/The World Bank, Oxford University Press, (2000).

Wraith, Ronald, and Edgar Simpkins. Corruption in developing countries. Routledge, 2010.

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