In: Economics
systemic corruption has an unrecognized bearing on international security. Policymakers and private companies often pay insufficient attention to corruption when deciding what foreign and defense policies to pursue or where to invest. Greater understanding of the nature of acute corruption and its impact on global security would contribute to a better assessment of costs and benefits and therefore to improved policy and practice.In your opinion, what would one recommendation be for Public and Private Sector decision makers on how to better address this growing crisis and why?
Corruption is a universal issue though it may take different forms in different parts of the world. But it is destroying the fabric of good governance in all affected regions. In countries where corruption is prevalent there are high level of violence, curbs on freedom of speech, assembly & to criticize. Systemic corruption has an unrecognized bearing on international security. Policymakers and private companies often pay insufficient attention to corruption when deciding what foreign and defense policies to pursue or where to invest. Greater understanding of the nature of acute corruption and its impact on global security would contribute to a better assessment of costs and benefits and therefore to improved policy and practice. I would recommend following measure for Public and Private Sector decision makers to tackle this issue in an efficient manner.
1) Rigorously analyze systematically corrupt countries: Public and Private Sector decision makers should gather information on the structure of ruling networks, the levers of power and revenue streams they capture to reduce the interaction between corrupt forces.
2) Use the analysis to inform choices on engaging with corrupt countries: Decision makers should conduct a thorough cost-benefit analysis before deciding to invest in a systemically corrupt country. Modifications to standard operating procedures can reduce the likelihood of crises and help avoid the costs associated with interventions that might otherwise be required.
3) Innovate new ways to avoid enabling systemic corruption: Decision makers should use the various types of available tools to analyze the effects when approaching a corrupt country. Depending on the circumstances, changes in diplomatic practice, military assistance, development efforts, aid to civil society, membership requirements for multilateral regimes, business investment, and rules regulating international capital flows will be required.
4) Decision makers should make accurate calculations calculation of the real trade-offs when foreign policy priorities are under consideration.They should make a detailed analysis of how different interventions including diplomatic interactions, military cooperation, private investment, and humanitarian and development assistance impact environments marked by acute corruption.