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The Impact of Corruption in the Development of Latin America
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Journal Article
The Impact of Corruption in the Development of Latin America
2023
Overview
One of the most perverse effects of corruption is its impact in developing countries, specifically in Latin America, where corruption drags the region into poverty, social exclusion, political instability, inefficient governance, scarcity of public services, violation of human rights, and lack of justice for the most vulnerable people. Not to mention the impact of this phenomenon on economic growth. Every year US$1 trillion is paid in bribes, while an estimated US$2.6 trillion are stolen annually through corruption - a sum equivalent to more than 5 per cent of the global Gross Domestic Product (GDP). In developing countries, according to the United Nations Development Programme (UNDP), many funds are lost due to corruption; it is estimated at 10 times the amount of official development assistance (ODA).1 The present article presents the consequences of corruption in developing countries, particularly in Latin America, where corruption not only affects the economic growth of the region, but also the income per capita and the social and human development of Latin American people. The article is divided into three areas with different sections. The first one shows the possibilities and resources of Latin America and the role of corruption to break the advance of the Latin American countries. The second one presents the effects of corruption in the public services mainly education and health. The third one exposes the consequences of corruption in the increase of inequality in the region. Finally, recommendations are presented, offering some key areas to be improved.
Publisher
مركز حكم القانون ومكافحة الفساد
Subject
