The need for anti-corruption policies in developing countries

Pages131-141
Published date15 July 2020
DOIhttps://doi.org/10.1108/JFC-06-2020-0099
Date15 July 2020
Subject MatterAccounting & Finance,Financial risk/company failure,Financial crime
AuthorRichard G. Brody,Gaurav Gupta,Angela N. Ekofo,Kehinde Mayokun Ogunade
The need for anti-corruption
policies in developing countries
Richard G. Brody
Department of Accounting, Anderson School of Management,
University of New Mexico, Albuquerque, New Mexico, USA
Gaurav Gupta
Department of Accountancy and Business Law,
University of North Carolina, Wilmington, North Carolina, USA, and
Angela N. Ekofo and Kehinde Mayokun Ogunade
Department of Accounting, Anderson School of Management,
University of New Mexico, Albuquerque, New Mexico, USA
Abstract
Purpose In this study, the authors examine the issue of corruption in the government institutions of
developing countries. Additionally, this study aims to answer the following research question: How do
developing countries implementand enforce these anti-corruption policies? Specif‌ically, the authors look at
the laws adoptedin differentdeveloping countries to deal with issues related to corruption.
Design/methodology/approach The authors use the qualitative approach to examine the causes of
recent corruption among governmentoff‌icials in developing countries such as Nigeria, India, theDemocratic
Republic of Congo and Uganda. A comparative approach was used to compare and contrast the anti-
corruptionpractices of developing and developed countries.
Findings The f‌indings indicatethat corruption is rampant in much of the developingworld. On a positive
note, the authors have found evidence of actions taken by governments in these developing economies to
rapidly deal withissues of corruption. All the countries analyzed in this paper have developedanti-corruption
policiesand related acts to detect and punish the perpetratorsof corruption.
Originality/value This paper provides a greater insight as to how the anti-corruption policies are
formulated and enforced in the developing world. Specif‌ically, the authors provide examples of different
emerging countries and their approaches to developing and enforcing anti-corruption policies. This
guidance can help others around the world to deal with anti-corruption policies in their countries.
Although the authors have learned a lot about the detrimental effects of corruption and laws enacted to
combat it, the next step is to examine the processes used by the developing countries to develop these anti-
corruption laws and policies.
Keywords Developing countries, Government off‌icials,Anti-corruption policies, Corrupti on
Paper type General review
Introduction
In January of 2020, the federal government of Nigeria, one of the wealthiest countries in
Africa, entered into a three-party agreement with the Island of Jersey and the USA for the
repatriation of $308mn looted by the Late General Sani Abacha (Sanni, 2020). General Sani
Abacha was one of the infamous corrupt heads of states in the history of Nigeria who
laundered public funds throughthe US banking system. The funds were maintained in the
name of the son of General Abacha in bank accounts in the Island of Jersey (U.S. Embassy
and Consulate in Nigeria, 2020). Perhaps,what is most surprising about this scandal is that
Anti-corruption
policies in
developing
countries
131
Journalof Financial Crime
Vol.28 No. 1, 2021
pp. 131-141
© Emerald Publishing Limited
1359-0790
DOI 10.1108/JFC-06-2020-0099
The current issue and full text archive of this journal is available on Emerald Insight at:
https://www.emerald.com/insight/1359-0790.htm

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