Africa Economic and Financial Brief
- Abidjan: AfDB, 2013.
- 7p.
- Volume 4, Issue 40 .
The market brief looks at the effects of corruption on a number of economic indicators. The cost and extent of corruption and weak governance as well as the cost and extent of corruption against weak governance. While the extent and cost of corruption differ across countries, the brunt of its effect is more pronounced in Africa. Although there have been significant improvements in governance in some African countries during the past decade, most African countries have not made significant headway in reforming their governance systems into tools of wealth creation and economic growth.Corruption not only lowers the tax-GDP ratio but also causes long-term damage to the economy by detracting investment, increasing the size of the informal economy, and distorting tax structures.Corruption hits the poorest segments of the population the hardest since they are the most dependent on basic services. The brief also takes a closer look on stock markets, global economic leading Indicators, globalmarkets, Africanmarkets, commodity markets, currency markets and sovereign debt Issues in Africa.
BANK, CAPITAL FLIGHT, CORRUPTION, DEBT GOOD GOVERNANCE, MONEY LAUNDERING
