Base on corruption index, Ecuador is among the most corrupted country in the world. narrowly we have two factors contributing negatively to this.
Economic development
Government instability in the country has a serious impact in the economy which could discourage potential investors. And it also said that the country is facing a balance of trade because of its heavy dependance on primary merchandises for export. meaning while without sustenance from external investors, is more likely that the country would not be able to grow more profitable.
This is also another strong example of liability to the economic development of Ecuador. media reported allegedly the business man, the brother of president signed public sector contract to corporation. but the president invalidated the contract.
pubic sector wages
Pubic sector wages seems to be very poor. 60 percent of economically active Ecuadorian turns to be informal economy for employment . Informal workers, rather support themselves by
working for small businesses or vending things illegitimately (without licenses
or revenue reports to the state) in city areas or marketplace than working for
the state or standard private body.Vendors arrange kiosks in town and sell stuffs to passers-by.
The shortage of money has led to kid labor. Children shin shoes or vending
candy on the roads to support their parents' income.
All
these could explain why the country is so corrupted.and it is a
strong brake to economic growth. Several methods could be put into
consideration to eradicate the problems. Then it would bring potential
investors, create employment and many more development which would transform the
country positively and wipe out corruption completely.
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