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Corruption, institutions, and economic development

Oxford review of economic policy, 2009-06, Vol.25 (2), p.271-291 [Peer Reviewed Journal]

Oxford University Press and Oxford Review of Economic Policy Limited 2009 ;Oxford University Press © The Author 2009. Published by Oxford University Press. For permissions please e-mail: journals.permissions@oxfordjournals.org 2009 ;The Author 2009. Published by Oxford University Press. For permissions please e-mail: journals.permissions@oxfordjournals.org ;ISSN: 0266-903X ;EISSN: 1460-2121 ;DOI: 10.1093/oxrep/grp012

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Title:
Corruption, institutions, and economic development
Author: Aidt, Toke S.
Subjects: Correlation ; Corruption ; D78 ; D82 ; Data corruption ; Developing countries ; Economic development ; Economic growth ; Economic indices ; Economic theory ; GDP ; Governance ; Government corruption ; Gross Domestic Product ; growth ; Growth rates ; Institutions ; LDCs ; Per capita ; Political corruption ; Political economy ; Studies ; Sustainable development ; Wage & price controls ; Wealth ; World Bank
Is Part Of: Oxford review of economic policy, 2009-06, Vol.25 (2), p.271-291
Description: Many scholarly articles on corruption give the impression that the world is populated by two types of people: the ‘sanders’ and the ‘greasers’. The ‘sanders’ believe that corruption is an obstacle to development, while the ‘greasers’ believe that corruption can (in some cases) foster development. This paper takes a critical look at these positions. It concludes that the evidence supporting the ‘greasing the wheels hypothesis’ is very weak and shows that there is no correlation between a new measure of managers’ actual experience with corruption and GDP growth. Instead, the paper uncovers a strong negative correlation between growth in genuine wealth per capita—a direct measure of sustainable development—and corruption. While corruption may have little average effect on the growth rate of GDP per capita, it is a likely source of unsustainable development.
Publisher: Oxford: Oxford University Press
Language: English
Identifier: ISSN: 0266-903X
EISSN: 1460-2121
DOI: 10.1093/oxrep/grp012
Source: Alma/SFX Local Collection

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Corruption, institutions, and economic development

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