The impact of corruption is multifaceted. It impedes the moral fabric of developing societies, slows down administrative processes, makes implementation of government policies ineffective, and is detrimental to the economic interest of these countries. Unfortunately, corruption makes these goals illusory resulting in underdevelopment.
Ryan James, On the Trail of a Spectre-Destabilisation of Developing and Transitional Economics: A Case Study of Corruption in Nigeria, 15 Penn St. Int'l L. Rev. 545 (1997).