Corruption may have consequences on the quality of goods and services by impacts on policy policies. First, if the cost of government goods and services is raised, this may have a similar impact to increasing the price of these goods and services. The loss of efficiency would occur if projects that would be cost-effective at the true cost are no longer cost-effective once the corruption costs are included, and thus not done. Second, corruption by distortions may create additional cost of production. Corrupt officials can't usually steal cash directly as it would be easy to detect; instead, they need to go through a variety of more complicated procedures to extract rent.
Countries with a high degree of corruption are unable to
function efficiently or prosper economically, causing society as a
whole to suffer.Emerging market economies tend to experience much
higher levels of corruption compared to developed countries.
Corruption can lead to an unequal distribution of resources as
small companies are faced with unfair competition from large
corporations that have formed illegal ties with officials.
Resources are inefficiently distributed in a corrupt economy, and
businesses that would otherwise not be able to win government
contracts are often awarded projects through bribery or
kickbacks.
Because little trust can be placed in the legal system of corrupted economies in which legal judgments can be rigged, potential innovators can not be certain that their invention will be protected by patents and not copied by those who know that by bribing the authorities they can get away with it. As a result, developing countries are typically the importers of technology, because such technology is not produced within their own societies.
How does government corruption affect small countries? Give examples. They are referring to small countries that...
How does climate change affect world fisheries ? Give three examples.
1. How does climate change affect world fisheries? give 5 examples 2.what is the state world fisheries and aquaculture? 3. what is the extractive sector transparency measure act? What could be the impact of this law on the management of natural resources in developing countries
1. How does climate change affect world fisheries? give 5 examples
This question is referring to a glucose ring structure How does ring closure affect structural variability? That is, can the ring form of glucose have as many different structural shapes as the chain form of glucose? Is this 6-member glucose ring actually flat (planar)? Why/why not? Where is the carbonyl group in the glucose ring? Can you convert the ring to the chain without breaking bonds? How many carboxyl groups are in this molecule? How many dissociable groups? Could you...
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Question 1 Which of these is NOT a reason that public corruption is detrimental to a nation's economy? Corrupt public officials misallocate scarce public resources Corruption hinders the development of fair markets Corruption undermines institutional trust Corruption may allow economic actors to bypass the impediments of poor-functioning institutions estion 2 The major flaw of mercantilism is that mercantilists view trade as _________________. a positive-sum game in which trade benefits both importers and exporters a zero-sum game in which trade benefits...
How does the stage of a product’s life cycle affect price? Give some examples. B. The U.S. Postal Service regularly raises the price of a first-class stamp but continues to operate in the red year after year. Discuss whether you think that uniform delivered pricing is the best choice for first-class mail?
Examine the countries where your company does business according to where they rank on the Hofstede cultural dimensions. Think of some examples of how a U.S. manager would need to modify his or her behavior when communicating with associates from one or more of these foreign countries. Does your company have an exit strategy? Recall that exit strategies are to be determined before entry into the foreign market, rather than after entry. Critically and objectively evaluate how ethical your company’s...
MICROECONOMICS 3. What are barriers to entry? Give examples. How do the barriers to entry affect the ability to earn long run economic profit?