The Thai Coalition Against Corruption (CAC) says corruption in the country has risen sharply over the past two years to an urgent level now, according to a 4 June 2013 report in the Bangkok Post. According to the report, “Business leaders believe Thailand’s economic growth might be 50% higher if not for corruption, according to the latest survey conducted by the CAC.”
Transparency International’s now famous corruption perceptions index (CPI) has consistently rated Thailand in the bottom third, as reported here on our site, and this is important in terms of Thailand’s economic development:
In general, survey after survey shows a strong correlation between wealth, income equality and transparency. The opposite is also true: surveys consistently show that poverty, income inequality and corruption all tend to correlate with each other. In Southeast Asia, Singapore and Hong Kong are considered the least corrupt countries and both countries are, by a wide margin, the most affluent countries in the region.
This has also become a much more significant issue for foreign investors in Thailand with the dramatic global increase in foreign anti-corruption laws. See here. For more information about anti-corruption laws, including Thai domestic anti-corruption laws, visit the anti-corruption part of the Knowledge section of our website by clicking here.
last updated on 4 June 2013