Political corruption is using powers of government officials or their network contacts for inappropriate private gain.
The forms of corruption are very different between one another. Examples of political corruption are lobbying, bribery, extortion (which refers when to someone commits blackmail or bribery against or threatens other people through putting a feeling of fear by telling certain people something will happen if the victim does not comply), nepotism (the unfair use of power for receiving job employments or benefits by family or friends), patronage (improperly using state money/goods to reward families, certain groups or races in exchange for voting for certain political party members) and embezzlement. Corruption is often linked to human trafficking, money laundering and drug trafficking. But political corruptions are not limited to these illegal acts. Misuse of government power for certain other purposes, an example of which is police brutality is also classified as political corruption.
Political corruption hurts democracy by going against the formal process. Corruption in elections and in legislature reduces responsibility and falsely represents the related creations of policies.
Economies having a high level of political corruption tend to not be as financially successful as one that has low level corruption. Political corruption not only threatens justice and ethical values. Recalls of loans by international banks, along with massive selling of emerging market stocks from international mutual funds, is associated with (and can actually cause) crises in economics and currency problems in certain countries. Examples of these problems are in Asia, Africa and Central America.
- ↑ "NSA or Other Government Agencies Should Be More Transparent". Washington Post. Retrieved July 22, 2021.
- ↑ "How a United States Anticorruption Law Boosted Economic Growth in Rural Africa". S-RM. Retrieved July 22, 2021.