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Abstract

What are the man causes? And what are the resulting losses? These are two pivotal questions that this study seeks to examine, while also proposing appropriate methods to bolster efforts aimed at combating corruption within developing and transition economies. Frequent complaints regarding corruption in developing nations have become commonplace; indeed, bribery and corruption have evolved into familiar phenomena with dire consequences, particularly as they permeate every service and production facility. Furthermore, the costs of confronting these issues have escalated significantly; yet, controlling corruption is far from impossible—it is a practical and achievable goal, especially when governments prioritize the formulation of sound anti-corruption strategies based on an in-depth investigation into its primary causes, the role of incentives, prevention mechanisms, and constitutional and economic reforms. This serves as an introduction to the translation of the article by Gray and Kaufman titled 'Corruption and Development,' published in the journal Finance & Development in 1998. The past few years have witnessed a surge in public interest regarding the problem of corruption, most notably during discussions at the World Bank and International Monetary Fund (IMF) annual meetings, as well as the intensive coverage in the World Development Report for the years 1996 and 1997. Additionally, the growing influence of the non-governmental organization Transparency International has contributed significantly to the discourse through its serious engagement in seminars, bulletins, and journals. Recently, the Organization for Economic Co-operation and Development (OECD) highlighted the issue, going as far as to classify bribery as a crime that should be strictly punishable by law. Moreover, there is an increasing willingness among officials in various economic systems to discuss the challenges of corruption in their countries with transparency and seriousness; the proliferation of empirical and theoretical studies on corruption and its economic impacts serves as further evidence of the topic's significance. It is worth noting that a very recent field survey of over 150 high-ranking public officials from approximately 60 developing countries identified public sector corruption as the single greatest obstacle to development and economic growth in their respective nations.

DOI

10.33095/jeas.v14i49.1368

Subject Area

Managerial

First Page

365

Last Page

371

Rights

http://creativecommons.org/licenses/by-nc-nd/4.0

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