The Problem of Corruption - Dissertation Example

The dissertation "The Problem of Corruption" talks about the understanding the relationship between democracy and corruption which becomes imperative as corruption goes global. The problem of corruption is considered as “one of the greatest obstacle for socio-economic development”. The issue is no longer just a national concern, but it is now also considered as a global problem. However, it has been observed that the problem of corruption is more prevalent and its consequences more debilitating in developing countries.

In fact, according to Hyslop, corruption in a poor country is not only an issue regarding economics, but it concretely becomes a question of justice since corruption in the health sector means no antibiotics and other medicines in rural clinics. Corruption in infrastructures means no feeder roads created. The experience of corruption in developing countries rebounds to experience and perpetuation of poverty among its people. In this regard, corruption becomes one of the most pressing issues that have to be addressed by all stakeholders.

In the face of the global concern regarding corruption, one factor that has captured the attention of scholars and politicians is the role of democracy. For globalization to push through, market and economic democracy have to be embraced by countries. In this context, democracy is understood as the removal of trade barriers allowing the opening of the economy to foreign trade and investment. This current economic situation has opened the global reach of corruption.. Background of the Study The problem of corruption is considered as “one of the greatest obstacle for socio-economic development” (World Bank, 2001).

The issue is no longer just a national concern, but it is now also considered as a global problem (Hartnell et al., 1999). However, it has been observed that the problem of corruption is more prevalent and its consequences more debilitating in developing countries (World Bank, 2001). In fact, according to Hyslop (2005), corruption in a poor country is not only an issue regarding economics, but it concretely becomes a question of justice since corruption in the health sector means no antibiotics and other medicines in rural clinics.

Corruption in infrastructures means no feeder roads created. The experience of corruption in developing countries redounds to experience and perpetuation of poverty among its people (Hyslop, 2005). In this regard, corruption becomes one of the most pressing issues that have to be addressed by all stakeholders. In the face of the global concern regarding corruption, one factor that has captured the attention of scholars and politicians is the role of democracy. For globalization to push through, market and economic democracy has to be embraced by countries (Soros, 2002; Killion, 2003; Fischer, 2003).

In this context, democracy is understood as the removal of trade barriers allowing the opening of the economy to foreign trade and investment. This current economic situation has opened the global reach of corruption vis-a-vis the necessity of democracy in globalization. Take for example, the condition of China. China’s integration in the global market requires the adoption of the open door economic policies. This action entails market democracies, which means less