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DOES CORRUPTION HURT OUR ECONOMY?

20 Jul

MAUA

Kenya Economy is the 17th poorest in the world. Kenya is a lower income country coming under the Sub-Saharan Africa region, according to Classification of economies by income and region, FY 2005 made by the World Bank. The roots of corruption are grounded in a Country’s social and cultural history, political and economic development, bureaucratic traditions and policies. To generalize, it tends to flourish when institutions are weak and economic policies distort the marketplace.
EEE Corruption distorts economic and social development, by engendering wrong choices and by encouraging competition in bribery rather than in the quality and price of goods and services and, all too often, it means that the world’s poorest must pay for the corruption of their own officials and of multinationals’ agents. Moreover, available evidence shows that if corruption is not contained, it will grow. Once a pattern of successful bribes is institutionalized, corrupt officials have an incentive to demand larger bribes, engendering a “culture” of illegality that in turn breeds market inefficiency.

KKKKK GRA

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1 Comment

Posted by on July 20, 2009 in Uncategorized

 

One response to “DOES CORRUPTION HURT OUR ECONOMY?

  1. Daniel

    July 23, 2009 at 11:18 am

    Kenyans let stand call for a third and final revolution even if is the Madagascar way people against the Government. Check on our infrastructure is depleted because of institutionalized corruption.
    Is only a revolution which can be able to over-turn the situation in this country where tribal politics has taken the lead. Kenya is a failed the reason i say this is because they say there is unfair distribution of resources but in the real sense look at the CDF kitty which even the CDF committee is brothers, friends, of the sitting MP. The sitting MP uses the kitty to buy the latest state of the art fuel guzzler i.e Range rover sport. Kenyans wakes up 4 a third and final revolution

     

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