Corruption Perceptions Index: How corrupt is your country?
Corruption is a huge risk for businesses around the world. Corruption is distorting markets, overwhelming economic growth and undermining laws. It has also major effects on developing countries by costing them billions of dollars each year. Read in this article about the Corruption Perceptions Index and how corrupt your country really is.
Corruption Perceptions Index:
But is enough being done to stop corruption globally? Based on expert opinion from around the world, the Corruption Perceptions Index measures the perceived levels of public sector corruption worldwide, and it paints an alarming picture. Not one single country gets a perfect score and more than two-thirds score below 50, on a scale from 0 (highly corrupt) to 100 (very clean). Corruption is a global problem as the lackluster score of 43 and the fact that 69% of all countries score below 50 out of 100, proves. A poor score is likely a sign of bribery and a lack of punishment for corruption.
“Countries at the bottom need to adopt radical anti-corruption measures in favor of their people. Countries at the top of the index should make sure they don’t export corrupt practices to underdeveloped countries,”according to José Ugaz, Chair of Transparency International.
Next week, I will elaborate on how dangerous corruption as a potential risk for your supply chain really is in a separate blog post.
Here are the key findings of the Corruption Perceptions Index 2014 as a quick summary: