Why do some countries prosper despite corruption?
This paper examines the factors that enable some countries to prosper despite entrenched corruption. I identify the type, realm of corruption, and political will in anti-corruption efforts, as important factors in determining a country’s prosperity. Using South Korea as an example of a prosperous co...
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| Format: | Final Year Project |
| Language: | English |
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Nanyang Technological University
2023
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| Online Access: | https://hdl.handle.net/10356/169648 |
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| Institution: | Nanyang Technological University |
| Language: | English |
| Summary: | This paper examines the factors that enable some countries to prosper despite entrenched corruption. I identify the type, realm of corruption, and political will in anti-corruption efforts, as important factors in determining a country’s prosperity. Using South Korea as an example of a prosperous country with two-way corruption between the political and economic realms, I contrast it with the Philippines, which has experienced poor economic growth due to the one-way corruption that benefits the political realm. South Korea also displays a high level of political will to tackle grand corruption due to the threat of losing power through elections. Conversely, the Philippines has a history of cronyism that results in little threat to a politician’s power and results in a lack of political will against corruption and continued economic stagnation. Overall, this paper highlights the crucial role of political will in promoting economic growth despite ongoing corruption. |
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