The Economics of Corruption: Causes, Consequences, and Remedies

Abstract

This article delves into the intricate web of corruption, analyzing its economic underpinnings, multifaceted causes, far-reaching consequences, and potential remedies. Corruption, a pervasive issue in both developed and developing economies, distorts market dynamics, impedes economic growth, and erodes public trust. By examining the root causes of corruption, this article aims to provide insights into effective countermeasures that can be employed to mitigate its detrimental effects. The analysis incorporates perspectives from various economic theories and empirical studies, shedding light on the complex nature of corruption and its impact on societies and economies worldwide.