South Africa: Derailing the Gravy Train — Controlling Corruption

Abstract

Corruption, broadly defined as ‘the abuse of public power for private gain’ is extremely harmful to any community. It threatens economic growth, social development, consolidation of democracy and the national morale. Politically, it creates situations of potential instability by destroying trust and confidence, for when an administration loses its credibility a climate for instability, unrest and general lawlessness is created. Economically, corruption stifles private initiative and enterprise, and the huge kickbacks and commissions demanded may act as disincentives to investment whether by foreign or local entrepreneurs. Corruption often goes hand in hand with other criminal practices, for example money laundering, drug trafficking and organised crime, which may threaten a legitimate economy. Corruption thus negatively impacts on practices of productivity and performance as well as efforts to bring about recovery and development.

Citation

Camerer, L. (1997), "South Africa: Derailing the Gravy Train — Controlling Corruption", Journal of Financial Crime, Vol. 4 No. 4, pp. 364-372. https://doi.org/10.1108/eb025808