An Explanatory Analysis of the Economic and Social Impact of Corruption in Zimbabwe

Abstract

Corruption is a complex social phenomenon, which in addition to political and economic factors, also has deeply rooted cultural causes and social traditions which largely determine its existence and extent. Corruption itself in a certain sense is as old as human civilization and it occurs everywhere in the world, in all political-economic systems. The social and economic impact of corruption is greater in developing nations than developed world. This paper discusses various definitions of corruption, their impacts to economic development, the detectability of corruption and ways to minimise corruption levels. The study has found many ways that may be followed by individuals, the government, business and anti-corruption bodies to reduce the level of corruption.

Keywords: corruption, social factors, economic factors, Zimbabwe, government solutions, individual solutions

JEL Classification: D60, D70, E50, E60, H10, H70, I30, K1, L10, O00, O11, Z10