Name of Instructor Date Corruption in Transitional Economies Corruption is a vice that has frequently been in existence globally and there are no signs of its end. This is based on the reason that the average level of corruption can never be zero since the marginal costs of the efforts exerted towards corruption have the potential of exceeding the marginal gains involved…
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Corruption has its implication on the social, economic and political environment: for instance, corruption may trigger distortion of economic policies that adversely impact on the growth of economy while slowing down the economic growth. As a result, it is normally difficult to be certain of the impact on the social set up and the overall implementation of policies. In reality speaking, corruption might be a major characteristic in transitional economies due to a wide range of impacts on its credibility and authenticity of the political environment in the process of making key decisions that will foster development of economy and the entire government. In most cases corruption is closely related with the transitional process definition of passing government assets into private hands. Moreover, corruption poses as a threat to the general progress of these economies. For instance, the society is highly affected in the sense that corruption makes it difficult for the public to access essential resources that can enhance their living standards. Most of the important and vital assets are channeled to uses not planned for which denies others an opportunity to enjoy their fundamental rights and privileges. Corruption occurs in all economies and assumes different forms and shapes depending on the specific policies a country has put in place and the machineries intended to fight the vice. Fighting corruption is a very complex and difficult process which requires the stakeholders to collaborate with a high level of integrity in order to do away with it. Corruption in transitional economies is most complex and difficult to deal with. Thus, in an effort of reducing the economic, political and social implications, donors such as World Bank have their own methods and standards towards minimizing the vice. These policies and strategies are largely dependent on the ability of the government in power to fight the vice. The main reason for selecting this research topic is that corruption is a topic that can be taken in different dimensions and that it has a wide area of coverage. Besides, corruption in its own means has numerous repercussions which cannot be exhausted in one or two sentences thus it gives the student or the researcher an avenue to explore the different ways of fighting it. Lastly, the topic is suitable given that in some economies corruption is so rooted that it has been accepted as part and parcel of life. Annotated Bibliography Marquette, Heather. Corruption, Politics and Development: The Role of the World Bank. New York, N.Y: Palgrave Macmillan, 2003. Print. Marquette’s article acknowledges the fact in fighting corruption in transitional economies involves a clear definition of the role of government, establishing new form of corporate governance and modifying the policies of the state or varying the equilibrium of authority amongst the executives and legislative structure. All these methodologies are similar to management reform in a corporate structure. Marquette’s asserts that it is not easy for the World Bank to execute such reforms amongst the transitional economies given the selfish interests of the stakeholders involved. Heidenheimer, Arnold J. Political Corruption: Concepts & Contexts. New Brunswick, NJ [u.a.: Transaction Pub, 2007. Print. Heidenheimer’
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