A Study of Political Corruption from the Perspective of Economic Growth and Sociopolitical Functions

Economists have long observed that political corruption hinders economic growth. According to this perspective, corruption is acritical impediment that restricts development, particularly in developing nations. This article aims to explore political corruption from two distinct perspectives. The first is that political corruption has a detrimental impact on economic growth. However, corruption may also act as a social lubricant in certain political contexts. This is particularly evident in regions like Asia, where cultural gift-giving is integral to social life in many communities. This paper posits that political corruption has a negative influence on economic growth and a positive impact as a significant social lubricant that can facilitate rapid economic development in developing nations.