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What kind of impact does bribery and corruption have?

What kind of impact does bribery and corruption have?
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Answer #1

Corruption and bribery affects the economic growth of the the developing economies. It hinders the economic development by reducing domestic investment,discourages the the foreign direct investment, encourages the overspending of government.

It leads to higher level of market and political monopolization, low level of democracy, inefficient adminstrative structure, difference in trade ratio, and poor quality of services.

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