Corruption, lack of Transparency and the Misuse of Public Funds in Times of Crisis: An introduction

Farazmand﻿, Ali; Simone, Elina De; Gaeta, Giuseppe Lucio; Capasso, Salvatore

doi:10.1007/s11115-022-00651-8

Cited by 5 publications

(3 citation statements)

References 19 publications

(19 reference statements)

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“…Likewise, there is a widely held belief that a robust economy hinges on the presence of a entrenched rule of law, encompassing protections for individuals and their assets, constraints on government authority, and mechanisms to combat corruption [ 9 , 19 , 20 ]. However, certain conclusions about the sanctuary of private property may be deemed improbable due to the limited correlation between various rule of law components in developing nations.…”

Section: Literature Reviewmentioning

confidence: 99%

The effectiveness of emerging markets’ legal structure in explaining financial development

Anser,

Khan,

Khan

et al. 2024

PLoS ONE

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This article examines the role of legal structure in explaining financial development in twenty-three emerging markets, which has not been explored in institutional economics literature before. This study relied on Pedroni, and Kao cointegration tests, which is followed by the renowned panel cointegration technique. The results of the Pedroni and Kao cointegration tests show that the variables understudy is cointegrated in the long-run. These findings are confirmed by the panel cointegration showing that legal structure (LS) has positive impact on financial development (FIND) in long-run that support Law and Finance, and New Institutional Economics theories in emerging markets. This study is the first to directly examine the long-run impact of LS on FIND in emerging markets, and the result remains consistent across alternative measure of FIND. The findings of this study have important policy implications for emerging markets. Policymakers should focus on creating a legal environment that is conducive to financial development. This includes strengthening the legal framework, improving regulatory regimes, and promoting market autonomy. Additionally, policymakers should work to attract foreign investment, which can help spur economic growth and development in emerging markets. The findings of the study are consistent across battery of robustness testing.

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Section: Literature Reviewmentioning

confidence: 99%

The effectiveness of emerging markets’ legal structure in explaining financial development

Anser,

Khan,

Khan

et al. 2024

PLoS ONE

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“…Furthermore, this study enriches existing research on COVID-19 by adding new perspectives. For instance, Farazmand et al (2022) signify the government's initiatives to reduce COVID-19 hardships and raise concerns about transparency, accountability, and citizen participation. The research argues that a robust central-local partnership can establish transparency and accountability and ensure wider citizen involvement with government activities.…”

Section: Introductionmentioning

confidence: 99%

A study of the decentralised administrative arrangements between the central and local governments in Bangladesh during the COVID-19 pandemic crisis

Al Farid Uddin,

Rahman,

Islam

et al. 2024

PAP

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PurposeDecentralised administrative arrangements and the active function of local government organisations are essential to tackle crisis effectively. Using Bangladesh as a case study, this paper examines the central and local government administrative arrangements during COVID-19 pandemic.Design/methodology/approachThis study applies qualitative content analysis and interviews to explore the local government’s role in Bangladesh’s COVID-19 management by interviews of 18 participants including government officials, experts, non-government organisations (NGOs) representatives, and the general public. This paper also analysed academic papers, policy documents and other publicly available documents, including newspaper reports.FindingsThe Constitution of Bangladesh intensified the active participation of local government in each administrative unit through decentralised administrative management. This paper however reveals that the administrative arrangement during the COVID-19 pandemic in Bangladesh was primarily a centrally led system. The local government was not sufficiently involved, nor had it integrated into the planning and coordination process. This indicated the absence of active decentralised administration.Originality/valueThis study fills the research gap of the administrative pattern and local relations in COVID-19 management by exploring the local government’s role during the catastrophic situation and highlights the importance of decentralised administrative actions in managing the crisis.

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“…In higher education, ethical governance is critical for upholding academic standards, preserving institutional reputation, and ensuring equitable access to education. Both financial transparency and ethical governance are essential for mitigating the risk of fraud, corruption, and mismanagement of resources (Farazmand et al, 2022). They provide mechanisms for detecting irregularities, addressing conflicts of interest, and holding individuals accountable for their actions.…”

Section: Introductionmentioning

confidence: 99%

Advancing financial transparency and ethical governance: innovative cost management and accountability in higher education and industry

Kudirat Bukola Adeusi,

Temitayo Oluwaseun Jejeniwa,

Titilola Olaide Jejeniwa

2024

Int. j. manag. entrep. res

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Advancing financial transparency and ethical governance in higher education and industry is imperative for fostering trust, accountability, and sustainability. This review explores innovative cost management strategies and accountability measures to achieve these goals. In both higher education and industry, financial transparency ensures stakeholders have access to accurate, timely, and comprehensible financial information. This transparency is crucial for building trust among investors, donors, regulators, and the public. Moreover, it facilitates informed decision-making and enhances organizational efficiency. One innovative approach to advancing financial transparency is the adoption of cloud-based financial management systems. These systems offer real-time data accessibility, automated reporting, and customizable dashboards, enabling institutions to track expenditures, revenue streams, and budget variances more effectively. Additionally, blockchain technology holds promise in ensuring the integrity and immutability of financial records, reducing the risk of fraud and corruption. Ethical governance goes hand in hand with financial transparency, emphasizing integrity, honesty, and accountability in organizational practices. Robust governance frameworks establish clear lines of responsibility, codes of conduct, and mechanisms for oversight. In higher education, this involves empowering governing boards with diverse expertise and ensuring academic and financial decisions align with institutional missions. To enhance ethical governance, institutions can implement whistleblower protection programs and conduct regular ethics training for employees. These initiatives promote a culture of transparency and integrity, encouraging individuals to report unethical behavior without fear of retaliation. Cost management plays a pivotal role in financial sustainability and ethical governance. Traditional cost-cutting measures often focus on reducing expenses without considering long-term implications. Innovative cost management, however, emphasizes efficiency, value creation, and sustainability. Activity-based costing is one such approach that allocates costs based on the activities that drive them, providing a more accurate understanding of resource consumption. This enables institutions to make informed decisions about resource allocation and pricing strategies. Furthermore, strategic sourcing and vendor management help optimize procurement processes, negotiate favorable contracts, and mitigate risks associated with third-party relationships. Collaborative partnerships with industry stakeholders can also facilitate knowledge sharing, resource pooling, and cost-saving opportunities. Accountability mechanisms are essential for ensuring that financial resources are used responsibly and in alignment with organizational objectives. Performance metrics and key performance indicators (KPIs) provide benchmarks for evaluating financial and operational performance. These metrics should be transparent, relevant, and aligned with strategic goals. Advancing financial transparency and ethical governance requires a multifaceted approach encompassing technological innovation, robust governance frameworks, strategic cost management, and accountability measures. By embracing these principles, both higher education institutions and industries can build trust, enhance efficiency, and achieve long-term sustainability. Keywords: Financial Transparency, Ethical Governance, Cost Management, Accountability, Higher Education, Industry

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Corruption, lack of Transparency and the Misuse of Public Funds in Times of Crisis: An introduction

Cited by 5 publications

References 19 publications

The effectiveness of emerging markets’ legal structure in explaining financial development

The effectiveness of emerging markets’ legal structure in explaining financial development

A study of the decentralised administrative arrangements between the central and local governments in Bangladesh during the COVID-19 pandemic crisis

Advancing financial transparency and ethical governance: innovative cost management and accountability in higher education and industry

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