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Enrichment with growth

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  • Klein, Michael

Abstract

This essay first sets out the"business model"problems entailed by corruption and their effects as well as implications for economic growth. Key issues are the need for secrecy and co-operation with partners in crime. Dealing with these leads to behavior which is ostensibly bizarre and undermines economic efficiency, but is in fact a rational way of managing corrupt practices. However, different economic policies can be pursued that are compatible with corruption. Some are more pro-growth than others. Pro-growth corrupt policies hold the promise of enriching the corrupt elite more in absolute terms even though the share of national wealth diverted may be smaller. The most effective pro-growth polices that help enrich an elite resemble fairly orthodox economic policy prescriptions. Eventually the abolition of corruption holds the greatest promise to enhance growth and with it the wealth of elites. The expectation of such growth may explain why more and more political elites pursue"sound"economic policy and may embrace anti-corruption efforts, while securing legal ways of enrichment for themselves. Country examples illustrate policy approaches with different combinations of enrichment and growth properties.

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Bibliographic Info

Paper provided by The World Bank in its series Policy Research Working Paper Series with number 5855.

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Date of creation: 01 Oct 2011
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Handle: RePEc:wbk:wbrwps:5855

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Keywords: Public Sector Corruption&Anticorruption Measures; Access to Finance; Labor Policies; Technology Industry; Debt Markets;

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References

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  1. Roßbach, Peter, 2009. "Die Rolle des Internets als Informationsbeschaffungsmedium in Banken," Frankfurt School - Working Paper Series, Frankfurt School of Finance and Management 120, Frankfurt School of Finance and Management.
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Cited by:
  1. Dietmar Harhoff & Elisabeth Mueller & John Van Reenen, 2013. "What are the channels for technology sourcing? Panel data evidence from German companies," LSE Research Online Documents on Economics, London School of Economics and Political Science, LSE Library 51524, London School of Economics and Political Science, LSE Library.
  2. Lavee, Doron & Beniad, Gilat & Moshe-Jantzis, Moran, 2013. "Israel's foreign trade policy: The benefits of its reform," Journal of Policy Modeling, Elsevier, Elsevier, vol. 35(2), pages 255-270.
  3. Boeing, Philipp & Mueller, Elisabeth & Sandner, Philipp, 2012. "What makes Chinese firms productive? Learning from indigenous and foreign sources of knowledge," Frankfurt School - Working Paper Series, Frankfurt School of Finance and Management 196, Frankfurt School of Finance and Management.
  4. Böing, Philipp & Müller, Elisabeth, 2012. "Technological Capabilities of Chinese Enterprises: Who is Going to Compete Abroad?," Annual Conference 2012 (Goettingen): New Approaches and Challenges for the Labor Market of the 21st Century, Verein für Socialpolitik / German Economic Association 62081, Verein für Socialpolitik / German Economic Association.
  5. Alexander Libman & Vladimir Kozlov & André Schultz, 2012. "Roving Bandits in Action: Outside Option and Governmental Predation in Autocracies," Kyklos, Wiley Blackwell, Wiley Blackwell, vol. 65(4), pages 526-562, November.
  6. Kostka, Genia & Moslener, Ulf & Andreas, Jan G., 2011. "Barriers to energy efficiency improvement: Empirical evidence from small-and-medium sized enterprises in China," Frankfurt School - Working Paper Series, Frankfurt School of Finance and Management 178, Frankfurt School of Finance and Management.
  7. Inklaar, Robert & Koetter, Michael & Noth, Felix, 2012. "Who's afraid of big bad banks? Bank competition, SME, and industry growth," Frankfurt School - Working Paper Series, Frankfurt School of Finance and Management 197, Frankfurt School of Finance and Management.

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