Corruption is a real challenge in our world today. It continues to attract a lot of attention because it damages the legitimacy of regimes, ultimately leading to the loss in public trust and support. Corruption also undermines the fairness of public and private institutions. Sadly, even countries like the United States traditionally known as “corrupt-free zones” are progressively falling victims of corruption. Maybe you could ask: Which is the least corrupt country in the world today? Well, according to Transparency International’s 2019 survey, the least corrupt countries are Denmark, Finland, and Sweden. On the other hand, the most corruption countries are Afghanistan, North Korea, and Somalia. You may want to check this article to find out where your country falls.
So, in this post, I will explain to you what makes Denmark #1 in the Transparency International’s corruption perceptions index list. First off, Denmark has possibly the best judiciary system in the world in terms of transparency. Its judiciary is extremely well-regarded, fair, and almost entirely independent of other branches of the government. Companies are confident with the working of the legal system including how corporate disputes are handled. Incidences of bribery and payments for favor are seen to be very rare in Denmark.
Moreover, the country’s court system is efficient, reliable, and fair. 80% of citizens and companies consider courts independent. Judges are satisfied with how promotions and appointments are conducted. Denmark is a party to the International Centre for the Settlement of Investment Disputes (ICSID) and has also signed the New York Convention of 1958. Up until 2017, the country had not experienced any significant investment-related dispute.