Sunday, February 19, 2012

Major barrier to international development and Middle East


Major barrier to international development and Middle East 
Underlying these changes in rules, rhetoric, and awareness is the growing recognition that bribery and extortion  have demonstrably deleterious consequences. Gone is the day when some pundits seriously argued that  corruption  was  an efficient  corrective for  over regulated  economies  or  that  it  should be tolerated as an inevitable byproduct of intractable forces. The true impact of corruption is now widely acknowledged: corruption distorts markets and competition, breeds cynicism among citizens, undermines the rule of law, damages government legitimacy, and corrodes the integrity of the private sector. It is also a major barrier to international development -- systemic misappropriation by governments.

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