{"id":28929,"date":"2015-04-18T20:40:15","date_gmt":"2015-04-18T20:40:15","guid":{"rendered":"http:\/\/vskills.in\/certification\/blog\/?p=28929"},"modified":"2024-04-03T13:16:24","modified_gmt":"2024-04-03T07:46:24","slug":"corruption-sand-or-grease-wheels-of-developement","status":"publish","type":"post","link":"https:\/\/www.vskills.in\/certification\/blog\/corruption-sand-or-grease-wheels-of-developement\/","title":{"rendered":"Corruption :  &#8216;Sand&#8217; or &#8216;Grease&#8217; Wheels of Developement"},"content":{"rendered":"<p style=\"text-align: center\"><a ref=\"magnificPopup\" href=\"http:\/\/vskills.in\/certification\/blog\/wp-content\/uploads\/2015\/04\/Corruption-Sand-or-Grease-Wheels-of-Developement.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-28941\" src=\"http:\/\/vskills.in\/certification\/blog\/wp-content\/uploads\/2015\/04\/Corruption-Sand-or-Grease-Wheels-of-Developement-300x193.jpg\" alt=\"Corruption 'Sand' or 'Grease' Wheels of Developement\" width=\"300\" height=\"193\" srcset=\"https:\/\/www.vskills.in\/certification\/blog\/wp-content\/uploads\/2015\/04\/Corruption-Sand-or-Grease-Wheels-of-Developement-300x193.jpg 300w, https:\/\/www.vskills.in\/certification\/blog\/wp-content\/uploads\/2015\/04\/Corruption-Sand-or-Grease-Wheels-of-Developement.jpg 350w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><\/p>\n<p>Corruption and its effect on economic development is a fervent topic . It is defined as the efforts to secure wealth or power through illegal measures for private gain at public expense or misuse of public power for private benefit . Corruption is a global problem that exists in varying degrees in\u00a0different countries . It is not only found in democratic and dictatorial politics, but also in feudal, capitalist, and socialist economies .<\/p>\n<p>Many economies staunchly believe that malfunctioning of the government impedes investment, entrepreneurship and innovation . Also, cumbersome and dishonest bureaucracy delays the distribution of licenses and permits thereby slowing down the process of technological investment . It also impedes the economic growth by widening the gap between the rich and poor . Countries suffering from corruption cannot implement sound redistribution policies and thus are not expected to take benefit from sustainable economic development despite embarking upon economic growth from time to time . So corruption has a corrosive long term impact on investment and national income .<\/p>\n<p>Perhaps some amount of corruption propels growth in a way that it raises the productivity of the people contributing to the economic activity . The analysis of data collected from various studies points out towards a clear- cut correlation between corruption and economic growth . Thus corrupt regimes always yield disastrous results . The more corrupt a country is, the slower is its economic growth rate . Corruption is a stigma that destroys the reputation of the affected country . Therefore stringent measures need to be taken to put an end to it, for only then a country would be able to realize its full development potential .<\/p>\n<p>&nbsp;<\/p>\n<p><a href=\"http:\/\/www.vskills.in\/certification\/certifications\">Click here for government certifications<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Corruption and its effect on economic development is a fervent topic . It is defined as the efforts to secure wealth or power through illegal measures for private gain at public expense or misuse of public power for private benefit . Corruption is a global problem that exists in varying degrees in\u00a0different countries . It&#8230;<\/p>\n","protected":false},"author":1145,"featured_media":28941,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_joinchat":[],"footnotes":""},"categories":[1560],"tags":[1855,2137,3212,2410],"class_list":["post-28929","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-arbit","tag-corruption","tag-growth","tag-hurdle","tag-nations"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Corruption : &#039;Sand&#039; or &#039;Grease&#039; Wheels of Developement - Vskills Blog<\/title>\n<meta name=\"description\" content=\"Corruption: &#039;Sand&#039; or &#039;Grease&#039; Wheels of Development. Read to find out about Corruption and its effect on economic development. Click here.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.vskills.in\/certification\/blog\/corruption-sand-or-grease-wheels-of-developement\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Corruption : &#039;Sand&#039; or &#039;Grease&#039; Wheels of Developement - Vskills Blog\" \/>\n<meta property=\"og:description\" content=\"Corruption: &#039;Sand&#039; or &#039;Grease&#039; Wheels of Development. Read to find out about Corruption and its effect on economic development. 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