Can corruption and economic crime be controlled in developing economies – and if so, is the cost worth it?

Abstract

Purpose -The purpose of this paper is to examine the question of whether corruption and economic crime can be controlled in developing economies and whether the cost of doing that can be justified. It also explores the implications of corruption in the development of developing economies. Design/methodology/approach -The paper reviews a range of published articles , which offer theoretical and empirical research on corruption, economic crime and development. Themes discussed range from; the causes, implications, controls and the cost of controlling economic crime and corruption in developing economies. Findings -Provides a critical analysis of the debate on corruption and economic crime in developing economies. The paper generally concludes that no single institution can be used to control corruption and economic crime and efforts to control these phenomena need to come from multiple fronts. The best way to tackle corruption in developing countries is through sector-by-sector control and that efforts to eliminate corruption are unlikely to be entirely successful in developing countries, not even in the developed countries. Practical implications -The paper reminds developing countries to adopt measures that best suit their local circumstances in setting up anticorruption agencies/institutions while taking into consideration the borderless nature of crime -economic crime and corruption. Policy makers, especially in developing countries should re-examine both local and international tools for combining economic crime and corruption to ensure development. Originality/value -Although the paper argues along similar lines with the neo-liberal approach to combating economic crime and corruption in developing countries, a major departure of this paper is that it proposes the need for a global effort to corruption and economic crime as a result of the increasing borderless nature of crime in this present age of information communication technology.

Correlates of Support for Community-Police Partnerships in Policing among Nigerian and US College Students

“…The U.S. is a more developed nation, while Nigeria is still an economically developing country. In many developing nations, the police help ensure stability, but can also be linked to practices not favored by the public, such as overt abuse and corruption (Lambert et al, 2010; Salifu, 2008). The U.S. has a longer history of stable policing compared to Nigeria.…”

Cybercrime and cybersecurity in India: causes, consequences and implications for the future

“…Finally, policy makers need to re-examine various local and international tools and procedures to combat crimes with cross-border dimension. In this regard, while some attention has been paid to corruption and economic crime [32], relatively little systematic attention has been paid to international cybercrimes.…”

Corruption Here, Corruption There, Corruption Everywhere: A Framework for Understanding and Addressing Public Sector Corruption in Developing African Democracies

“…In the view of Rose-Ackerman (cited in Salifu, 2008), this involves the encouragement of competition in government and among officials and eschewing monopolistic tendencies. Consequently, the application of competitive bureaucracy may trim down bribery rates, and "thereby discouraging some potentially corrupt officials who balance the risks and benefits of accepting bribes, the lower bribe will also encourage more."…”