No Rule of Law, No Democracy: Conflicts of Interest, Corruption, and Elections as Democratic Deficits

Argues that new democracies face consolidation challenges due to campaign finance corruption and the unwillingness of politicians to reform rule of law enforcement.

Mainstream theories assert that democracy cures corruption. In market economies, however, elections are expensive and parties, with ever-thinning memberships, cannot legally acquire the necessary campaign funds. In order to secure electoral funds, a large number of politicians misappropriate public funds. Due to the illicit chara...