The Challenges Faced by the Legislature in Combating Economic Corruption

Today, corruption and combating it are considered as a major issue in many countries around the world. The main causes of economic corruption in the public sector relate to government tenures in the economy, including trade restrictions, industrial subsidies, price control, multiple exchange rates, low wages in public and commercial services, and reserving natural resources like oil. Economic corruption reduces investment and slows the economic growth down and ultimately leads to not achieving the goals of economic development in the country. Tax revenues are reduced and the quality of economic infrastructure and public services decreases. By reforming the structure of the law, it will be possible to modify the balance between the benefits and the losses caused by financial corruption-based behavior. However, the country's legislature encounters challenges that prevent its effective functioning. This paper surveys the challenges that the legislature is faced in combating economic corruption.