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 a critical 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.