‘Corruption corrodes the public trust in countries both rich and poor, and inflicts particular harm on emerging economies. When a developing country’s public officials abuse their power for personal gain, its people suffer. Political institutions lose legitimacy, threatening democratic stability and the rule of law; and people lose hope that they will ever be able to improve their lot. When corruption takes hold, the fundamental notion of playing-by-the-rules gets pushed to the side, and individuals, businesses and governments instead begin to operate under a fundamentally unfair — and destabilizing — set of norms. This undermines confidence in the markets and governments, and destroys the sense of fair play that is absolutely critical for the rule of law to prevail.’
From the keynote address of Acting Assistant Attorney General Mythili Raman at the Global Anti-Corruption Congress delivered Monday, June 17, 2013. Her complete remarks are here.