CORRUPTION AND THE LEAST DEVELOPED COUNTRIES (LDCS): AN ANALYSIS OF THE CAUSES, SCOPE, AND IMPACT OF CORRUPTION ON THE LDCS

Abstract

The article examines the links between corruption and development in the developing world. There is a close relationship between corruption and development, which is why ending corruption needs to be at the core of any developmental agenda for the least developed countries (henceforth LCDs). Moreover, this article includes a discussion on the causes, scope, and impact of corruption on the state and society in the LCDs. As there is a lack of oversight, transparency, central guidance and direction, coupled with institutional deficiencies and incompetence, there is a tendency towards predatory, rentier state in the LDCs. Besides this, there exists a kind of shadow state in the LDCs as corruption leads to the emergence of an informal economy. Furthermore, this article explores the detrimental effects of corruption on equality in society, investment in the public as well private sectors, and on the state budget. Finally, this articles not only sheds lights on the internal ecology of corruption and its external repercussions, but also points out some mechanism whereby corruption can be combated and contained.

Keywords: Corruption, causes of corruption, reasons behind corruption, measures to stop Corruption.