What is digital economy?Is development and corruption exist together?
Ans: Oxford Dictionary defines
corruption as a dishonest or fraudulent conduct by those in power, typically
the thief of economic and social development, stealing the opportunities of
ordinary people to progress and prosper,” said United Nations Development
connection between corruption and development, Mr Fedotov said that corruption
was not simply a crime, it was the instigator of other criminal activities such
as transnational organised crime and drug trafficking.
The rule of law is increasingly being
recognized as the foundation for transparency and accountability and enabler of
sustainable development, he said.
Corruption has a
devastating impact across the world. It is estimated by the World Bank that
every year, between US $20 TO US 40 billion dollars are lost from developing
countries due to corruption and bribery. The environment also suffers: Costs of
infrastructure are increased by corruption by as much as 40 per cent.
While long run
data on corruption is very limited, historical examples suggest that corruption
has been a persistent feature of human societies over time and space. Two such
examples are the sale of parliamentary seats in `rotten boroughs’ in England
before the Reforms Act of 1832, and `machine politics’ in the US at the turn of
the 19th century.
A possible cause
of corruption is the weak productive base, the essential condition for the
appearance of shortage which, in turn, spurs corruption.
shows that socio-political and economic development, politics, power, history
and globalization have continued to reproduce and transform the institutional
structures and actors which facilitated corrupt practices in developing
countries like India. Large sums of government revenue have been undermined by
the corrupt practices of the political and economic elite, which in turn
enriched a few and impoverished most.
played a major role in causing serious damage to the economic and social
landscape in developing countries. This in turn has undermined social welfare
and also investment in the public services, thereby eroding the quality of life
and producing a decline in average life expectancy.
contracts are up for grabs, bribery, fraud, and embezzlement can plague
large-scale infrastructure projects. Corruption can lead to money being stolen
and infrastructure not being built or it can result in half-built or
sub-standard and at times dangerous infrastructure.