Abstract:

The definition of corruption remains ambiguous. Some scholars regard it as a good contributor to the economic growth and performance (Leff, 1964). Others link it to the worst way through which political and public decision makers govern a country’s affairs; corruption has then tendency to harm the well-being of nations. Under a corrupted system, the wealth of the nation has been, typically, in the hand of a limited number of corruptors that they have the ability to handle and manage the institutions and the mechanisms to their best interests. Corruption has always been one among the important concepts that economists and practitioners debate since decades ago. The majority of them have been interested in analyzing its causes and consequences. They have also provided some policy considerations and solutions to this hidden and no-controllable practice. The major questions they should address are: how to mitigate and/or avoid the corruption intensity? What are the institutional instruments required to battle corruption? Does cooperating with the existing corruptors inhibit the rise of others? The negative consequences of corruption can be at the micro and macro levels.