The Impact of Corruption on Investment and Development in Poverty-Stricken Regions in Canada

Abstract

Purpose: The aim of the study was to analyze the impact of corruption on investment and development in poverty-stricken regions. Methodology: This study adopted a desk methodology. A desk study research design is commonly known as secondary data collection. This is basically collecting data from existing resources preferably because of its low cost advantage as compared to a field research. Our current study looked into already published studies and reports as the data was easily accessed through online journals and libraries. Findings: Corruption profoundly undermines investment and development in poverty-stricken regions, stifling economic growth and exacerbating inequalities. By diverting resources away from essential infrastructure and public services, corrupt practices impede progress and perpetuate cycles of poverty. Addressing corruption through transparent governance mechanisms, strengthened regulatory frameworks, and international cooperation is essential to unlocking the economic potential of these regions and fostering sustainable development. Unique Contribution to Theory, Practice and Policy: Institutional theory, principal-agent theory & dependency theory may be used to anchor future studies on the impact of corruption on investment and development in poverty-stricken regions. Practical recommendations focus on implementing measures to enhance transparency, accountability, and rule of law in governance structures. Policy recommendations advocate for the adoption and enforcement of anti-corruption legislation, international conventions, and institutional reforms.