Political Corruption

GLOBAL BUSINESS ISSUES (GBI 795)

T2 EVALUATION OF DIVERSE POLITICAL AND LEGAL SYSTEM

Q5 Outline the forms of corruption. Explain how a corrupt political system affects the well being of a country.

1.0 Introduction

Corruption is a major problem around the world and it is one of the biggest challenges we have ever faced. It is a universal phenomenon and social disease that widespread in developed and developing countries, in regulated and deregulated economies, under democracies and dictatorships, within the private and public sectors and so on.

1.1 Definition of Corruption

There is a large body of literature has been devoted to define corruption. Nye (1967) defined corruption as a “behavior which deviates from the formal duties of a public role because of private regarding (personal, close family, private clique) pecuniary or status gains; or violates rules against the exercise of certain types of private-regarding influence. Nye’s definition of corruption has been commonly used by others researchers in their literature review. Akindele (2005) has noted that corruption is linked with ideological, moral, cultural and political perspectives. Aguilera and Vadera (2008) defined corruption as “the crime that is committed by the use of authority within organizations for personal gain”. Whilst, Luminita .I (2012) has described corruption as a subset of injustice, is about formal justice involves the violation of formal justice for private gain and produces substantive injustice and occurs when the rule or law is not regularly and fairly administered, requiring actions of the individuals. In addition, Okokgbule (2006) defined corruption as a device or strategy usually employed to sway people away from the right course of action, duty or conduct, either in the performance of their official duties, or in activities relating to economic or political matters. Notwithstanding the above definitions of corruption suggest that corruption is a major feature...