High levels of corruption limit investment and growth and lead to Essay - 1

High levels of degeneracy limit investment and growth and lead to ineffective government. Discuss with speech to concrete examples - Essay Exampleiciency is being advocated at all levels f .the world outlook has today transitioned from the sustenance f regulated economies to a liberalization f the world economy. It is in this regard that decadence, a relatively new phenomenon is gaining widespread importance in economic circles. What distinguishes corruption from other indictors is essentially the particular that it is non-quantifiable concept.While measures f growth, education and access to health facilities are easily available, it is extremely difficult to real assess the level f underhand dealings in an economy. The lack f concrete development makes any corruption measure largely susceptible to biases and subjectivity. To augment is, depending on the definition f corruption for any single economy. Our project is aimed at waiving the problems encountered in comprehending t he exact nature f the relationship in the midst of corruption and economic development. To this effect .we have attempted to do the following* Present a supposititious framework in which to view the effect f corruption on growth we have presented annotated summaries for welcome theories about corruption. At the same time we have ventured to formulate our own hypotheses about the corruption-development relationship.* Test the supposed base for empirical validity By conducting a cross-sectional study we attempted to discern the realistic significance f corruption. For the purpose f the best we formulated our own model f economic development, using both theory and relevant econometric tools. In the wake f this we have rejected and accepted several theories.Our study has also acquainted us with economic relationships which digress from our main abridgment but which are nevertheless educating. We were able to discern a highly interesting relationship whereby corruption was found to be more relevant to economic development than to economic growth, leading to the conclusion that perchance the level f rent -seeking in