Effect of Corruption on Kenyas Economoc Growth

In this paper, I will describe the State and Local Government accounting, using the modified accrual revenue recognition. Using the modified accrual revenue recognition, will follow in description of what it actually measures. Followed by the use of the modified accrual revenue recognition, I will discuss the guidance of the governmental fund expenditure recognition, its definition and recognition. With discussion of expenditures accounting for governmental funds, I will present the importance of recognition. Moreover, there are the reporting guidelines of expenditures in governmental funds.

growth. Corruption reduces the efficiencies of the operations of the market economy and a loss

The corruptin is the abusive and inefficient use of resources by trusted powers for private gain. Corruption is not committed to the rule of law, justice, human rights and the integrity of public service, and it hurts every one who's life, livelihood, or happiness depends on the integrity of people in a position of authority.Some times it's devastating impact is more visible . The governance ,transparency ,and fighting corruption is so important to sustaine economic growth.

Corruption is seemingly the Kenyan way, on any given day in the dailies there is a breaking story on a new scandal or a rehash of a past one. From government to corporates there are multiple examples of maleficence some of which will continue to adversely affect our economy for years to come.

Corruption has been seen as a major obstacle of rapid economic growth and development. It is a complex phenomenon whose roots lay in political and bureaucratic institutions and affects the economic growth of different countries. It makes the governments intervene where they do not need to, and it weakens the ability of the government to enact and implement policies in areas in which government intervention is needed. Over the years, the dispute of the economic consequences of corruption on economic growth has been a topic of analysis. The analysis is focused on the effect of corruption on economic growth. Several studies have generally found a negative correlation between corruption, economic growth, inequality, governance, income distribution and business environment. At the same time also some positive correlation with economic growth has been found to exist.

International Monetary Fund. 1998. Does Corruption Affect Income Inequality And Poverty?. [ONLINE] Available at: https://www.imf.org/external/pubs/ft/wp/wp9876.pdf. [Accessed 4 March 2017].

All organizations strive to streamline operations, which in turn should lead to saving money. Fighting the wasting of resources should be a top priority for any government entity and particularly for supervisors, managers, and executives. In the public sector this is particularly true because the citizens in effect supply the resources wasted. The public trust should not be abused by careless or needless spending. However, because of the bureaucratic nature of any government agency, some waste cannot readily be avoided. The laws and regulations that have been duly enacted to secure justified expenditures in and of themselves can cause waste.

It would be convenient to start this research paper by stating that corruption is a challenge mainly for businesses in developing countries and that it is unrelated to the current affliction of the economy in the United States. It would also be convenient to claim corruption has declined in America as a result of awareness raising campaigns and the numerous anti-corruption laws. But none of those aforementioned statements would be true. Corruption is not the exception, but rather the rule in today’s business practices. In 2004, Daniel Kaufmann, a senior fellow at Brookings Institution and former director at the World Bank, calculated an index of "legally corrupt" manifestations which is defined as the extent of undue influence

Corruption can be defined as the use of entrusted power to accumulate public wealthy for personal benefit. Corruption is not peculiar to any country, continent or state; it is sure a global issue which is an endemic to all government all over the world. However, corruption is prevalent in the Niger delta region of Nigeria; public officers in this oil producing state of Nigeria are corrupt. Consequently, it has defied the Niger delta from developing politically and economically which has left the states reputation in a mess. Radicalization of youths, abject poverty and -political instability are the three leading effects of corruption in the Niger delta region of Nigeria.

The use of a qualitative method and a telephone interview analysis were important tools in obtaining the data needed to answer the research question. Some opportunities identified include increased employment; export expansion, cultural interchange etc. Risks mentioned included corruption, bureaucracy and variation in commodity price among others. Tanzania needs to make effective use of the opportunities since it has a high economic growth potential that could see its position advancing from a less developed country to an intermediate or even a highly developed country. Corruption, among other risks, is presented to be a major problem in Tanzania. The author agrees that combating corruption is not an easy action which can be done by the government alone, rather through support from all citizens. Nevertheless, the current government has already started taking measures to combat corruption in the country. This was evident when the Tanzanian president started by removing top director generals and other government officials that were either embezzling national funds or practicing corrupting procedures. It’s the researcher’s hope that if this development continues, the new phase of Tanzania is likely to come which will result in increasing trade performance and strengthened trade ties between Germany and

This paired with poor law enforcement yields an impossibly hard to get rid of corruption. In Kenya, political corruption has grown rampant. People, who are supposed to be representing the interests of their constituency, instead take money from the constituents to keep their representative positions.

While corruption is said to generate inefficiency and retard growth in a country (Ackerman, 1997), China manages to deliver astronomical economic growth amidst rampant corruption (Li, Peng, 2001). To explain China’s puzzle, the essay first focuses on the causes of corruption and why it has yet to be eradicated, and then analyzes its economic impact in the short and long run.

Kenya is the regional leader in East Africa and this position is expected to be a constant over time. The economy is fairly diversified with a strong and well developed services sector. The financial services industry in particular is well developed and established, moreso the country is considered East and Central Africa’s hub for financial services.

Corruption is a complex political, social, and economic anomaly that negatively affects developing and developed countries. It weakens democratic institutions, holds economic development, widening the rich-poor gap and certainly leads to governmental instability. The World Bank definition of corruption states that “…the abuse of public office for private gain”.

A Report for the Honorable Mayor, City Council, & Board of Directors of an African Country