Why do some countries prosper despite corruption?

• Main Author: Neo, Jing Mian
• Other Authors: Walid Jumblatt Bin Abdullah
• Format: Final Year Project
• Language: English
• Published: Nanyang Technological University 2023
• Subjects: Social sciences
• Online Access: https://hdl.handle.net/10356/169648
• Institution: Nanyang Technological University

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.