Vol. 7, No. 4: Assessing and Reforming Public Efforts to Control Corruption, by Larry Diamond
14 September, 2005
There is wide agreement both within Africa and internationally that extensive corruption constitutes one of the principal obstacles to economic development in Africa. Corruption undermines the effective deployment of public resources for development. Development requires that the resources of government be used to generate public goods that will benefit the whole community. But corruption obstructs development by discouraging private investment, wasting resources, proliferating needless regulations, swelling budget deficits, and diverting resources from the kinds of investments that will increase the capacity to generate wealth. Funds that could go to educate and inoculate children, pave roads, build markets, dig wells, and generate electricity instead leak out into foreign bank accounts.