As an economic phenomenon, corruption can be termed a "silent killer". High corruption prevents investments from utilizing their full potential. It also prevents people from consuming various public goods to the full extent. Corruption drains public savings and reduces resources that could have been used for creating more public goods.

Major emerging markets have been struggling to control corruption. Systems, institutions and practices have contributed to the growth of corruption in these economies over the years. The large developing countries that are also major emerging market economies such as China, India, Brazil, Mexico, Russia and Indonesia all suffer from corruption to various degrees.

A common context of corruption in all these economies is the large presence of state actors and agencies in various economic activities. Their presence, in the absence of effective regulations and competitive practices, has contributed to widespread corruption, as producers, agents and intermediaries benefitting from the lack of transparent rules and pricing systems have been active in maintaining these practices over time.