Discuss how fraud and corruption may negatively impact economic growth and development of a country​

This can be seen if we look at many 3rd World countries today.

Explanation:

In societies which do not have a genuine democratic process, then those who have access to power also have access to fraud and corruption. The emergence of countries in Africa and Asia as a result of decolonization led to such scenarios.

You had the emergence of dictators who, by force, could appropriate billions in foreign aid for personal wealth, thus creating obscene personal fortunes. President Mobutu of Zaire was a classic example.

This obviously impacts negatively in the growth and development of Zaire as a society in that the money which should be being invested in economic and social development is being squandered on personal fortunes.

Of course those giving the "aid" are not blameless. In Zaire's case Western governments and companies are quite happy to keep a dictator in power in return for access to that country's raw materials, in Zaire's case copper.

However it would be wrong to imply that fraud and corruption are confined to developing countries. The role of power pressure groups and the process of lobbying builds in an automatic advantage to the powerful in developed countries at the expense of the vulnerable and powerless.

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