Consequence Of Corruption

Consequences of Corruption Without doubt corruption has a negative impact on Socio-economic, political and institutional domains of the body politic of African states. Its impact is not only limited to the size of the payments involved, but the very process of extorting and giving bribes has distortion effects that are socio-economic and political, even in terms of economic growth. Corruption does not alleviate the effect of existing administrative distortions as some have suggested. For example, bureaucratic delays are neither mitigated nor circumvented by the effects of corruption. In fact corruption reinforces bureaucratic delays and thus is not a cure. Its impact on the economy cannot therefore be over emphasized. Corruption has a more distortionary impact on the economy than taxation, because of the need to keep corruption secret. Efforts to avoid detection and punishment cause corruption to be more distortion than taxation. Corruption slows down investment and economic growth, the fact that bribery contracts are unlike regular contracts that are enforceable. Corruption raises the cost of doing business. Officials may introduce certain conditions to ensure that they get bribes, through delays and unnecessary requirements. Corruption discourages new ideas and innovations. Corruption leads to the decline in real per capita incomes, inflation, a widening budget and balance of payment deficits, and declining official production and exports:  Corruption promotes inequality among firms  Corruption leads to a reduction in the quality of products.  Corruption diverts funds from investment and other production activities.

 Politically, corruption leads to a loss of faith on the part of the people and thus its legitimacy and power. Political equality and democratic values are undermined.  Corruption strengthens bad governance, through the absence of the rule of Law, respect for human rights, no accountability, and transparency.  Corruption has also led to massive neglect of the social sector, which has substantially decreased the quality of human resources in African states over the years. The provision of educational and health opportunities have been limited, this impacting negatively on the quality

of

life,

labor,

productivity,

incomes,

innovativeness,

competitiveness, and poverty reduction in Africa States  Corruption has also led to the weakness of structure and institutions crucial for better governance. Generally speaking, corruption is a species of governance failure and can only be mitigated when Bangladesh is committed to ensure Good Governance. Existing structures and institutions such as Anti-Corruption Commission (ACC) and other Bureaus should be strengthened and the national Campaigns against corruption intensified in Bangladesh. Unless and until Bangladesh is committed, corruption is the cancer that will eat up all the socio-economic and political achievements of this beautiful country might not see the light of day. Provat Nazmi LL.B (Hons)

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