CORRUPTION, THE GOVERNMENT AND THE PRIVATESECTOR: WHY IT MATTERS AND WHAT CAN BE DONE

Ian Senior

Economic Affairs, 2004, vol. 24, issue 2, 22-29

Abstract: The author proposes a definition of corruption which requires five conditions to be satisfied simultaneously. The definition is applicable to both the state and private sectors. Empirical work shows that corrupt countries receive less inward investment, pay higher interest on borrowings and achieve lower rates of investment overall. Ways of combating corruption are suggested.

Date: 2004
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