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Three Aspects Of Corruption

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  • FRANCIS T. LUI

Abstract

This paper examines corruption from three perspectives—market imperfections, illegality, and investment in socially unproductive human capital. It argues that corruption is an optimal response to market distortions and may improve allocative efficiency. The paper discusses possible market structures that induce illegal, corrupt activities and identifies some principles for deterring corruption. To acquire more corruption opportunities, an individual must invest in some form of human capital. The paper also addresses the implications of corruption for economic growth and reform.

Suggested Citation

  • Francis T. Lui, 1996. "Three Aspects Of Corruption," Contemporary Economic Policy, Western Economic Association International, vol. 14(3), pages 26-29, July.
  • Handle: RePEc:bla:coecpo:v:14:y:1996:i:3:p:26-29
    DOI: 10.1111/j.1465-7287.1996.tb00621.x
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    File URL: https://doi.org/10.1111/j.1465-7287.1996.tb00621.x
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    References listed on IDEAS

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    1. Lui, Francis T., 1986. "A dynamic model of corruption deterrence," Journal of Public Economics, Elsevier, vol. 31(2), pages 215-236, November.
    2. Lui, Francis T, 1985. "An Equilibrium Queuing Model of Bribery," Journal of Political Economy, University of Chicago Press, vol. 93(4), pages 760-781, August.
    3. Paolo Mauro, 1995. "Corruption and Growth," The Quarterly Journal of Economics, Oxford University Press, vol. 110(3), pages 681-712.
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    Cited by:

    1. Noel D., Johnson & William, Ruger & Jason, Sorens & Steven, Yamarik, 2012. "Corruption as a response to regulation," MPRA Paper 36873, University Library of Munich, Germany.
    2. Jin-Li Hu & Chung-Huang Huang & Wei-Kai Chu, 2004. "Bribery, hierarchical government, and incomplete environmental enforcement," Environmental Economics and Policy Studies, Springer;Society for Environmental Economics and Policy Studies - SEEPS, vol. 6(3), pages 177-196, September.
    3. Hamdi, Helmi & Hakimi, Abdelaziz, 2015. "Corruption, FDI and Growth: All the truths of a corrupted regime before and after the social upsurge in Tunisia," MPRA Paper 63748, University Library of Munich, Germany.
    4. Wei-Bin Zhang, 2017. "Corruption and Growth in a Dynamic General Equilibrium Model," European Journal of Economics and Business Studies Articles, European Center for Science Education and Research, vol. 3, EJES May-.
    5. Pushkarev, Oleg, 2007. "Corruption and Economic Development of Russia: A Regional Aspect," Applied Econometrics, Publishing House "SINERGIA PRESS", vol. 6(2), pages 81-94.
    6. George Economakis & Yorgos Rizopoulos & Dimitrios Sergakis, 2010. "Patterns of Corruption," Post-Print halshs-01968240, HAL.
    7. Ludmiła Stemplewska, 2018. "Corruption In Business - Pros And Cons," Economic Archive, D. A. Tsenov Academy of Economics, Svishtov, Bulgaria, issue 4 Year 20, pages 15-30.
    8. Djumashev, R, 2007. "Corruption, uncertainty and growth," MPRA Paper 3716, University Library of Munich, Germany.
    9. Maurizio Lisciandra & Emanuele Millemaci, 2017. "The economic effect of corruption in Italy: a regional panel analysis," Regional Studies, Taylor & Francis Journals, vol. 51(9), pages 1387-1398, September.
    10. Nobuo Akai & Yusaku Horiuchi & Masayo Sakata, 2005. "Short-run and Long-run Effects of Corruption on Economic Growth: Evidence from State-Level Cross-Section Data for the United States," International and Development Economics Working Papers idec05-5, International and Development Economics.
    11. Daniela Viorică & Dănuţ Jemna & Carmen Pintilescu, 2011. "Determinants Of Corruption In Romania And Its Impact On Economic Growth," Analele Stiintifice ale Universitatii "Alexandru Ioan Cuza" din Iasi - Stiinte Economice, Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, vol. 2011, pages 225-233, july.
    12. Marc Audi & Amjad Ali, 2019. "Exploring the Linkage between Corruption and Economic Development in The Case of Selected Developing and Developed Nations," International Journal of Economics and Financial Issues, Econjournals, vol. 9(4), pages 37-49.
    13. Wei-Bin ZHANG, 2018. "Corruption, governments’ debts, trade, and global growth," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania - AGER, vol. 0(2(615), S), pages 27-50, Summer.
    14. Richard J. Cebula & J.R. Clark, 2011. "Migration, Economic Freedom, and Personal Freedom: An Empirical Analysis," Journal of Private Enterprise, The Association of Private Enterprise Education, vol. 27(Fall 2011), pages 43-62.
    15. Osvaldo H. Schenone, 2002. "An Economic Approach to Corruption," Working Papers 52, Universidad de San Andres, Departamento de Economia, revised Aug 2002.
    16. Roth, Timothy P., 1997. "Competence-difficulty gaps, ethics and the new social welfare theory," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 26(5), pages 533-552.
    17. Ratbek Dzhumashev, 2006. "Public Goods, Corruption And Growth???," Monash Economics Working Papers 15/06, Monash University, Department of Economics.
    18. Noel Johnson & William Ruger & Jason Sorens & Steven Yamarik, 2014. "Corruption, regulation, and growth: an empirical study of the United States," Economics of Governance, Springer, vol. 15(1), pages 51-69, February.
    19. Sanyal, Amal & Gang, Ira N & Goswami, Omkar, 2000. "Corruption, Tax Evasion and the Laffer Curve," Public Choice, Springer, vol. 105(1-2), pages 61-78, October.
    20. Matheus Pereira & Wilson Cruz Vieira, 2010. "Corruption in a neoclassical growth model with a non-convex production function," International Review of Economics, Springer;Happiness Economics and Interpersonal Relations (HEIRS), vol. 57(3), pages 335-346, September.
    21. Mats Lundahl, 1997. "Inside the Predatory State: The rationale, methods, and economic consequences of kleptocratic regimes," Nordic Journal of Political Economy, Nordic Journal of Political Economy, vol. 24, pages 31-50.
    22. Roth, Timothy P., 1999. "Consequentialism, rights, and the new social welfare theory," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 28(1), pages 95-109.
    23. Maria Amin & Adeel Ahmed & Khalid Zaman, 2013. "The Relationship Between Corruption And Economic Growth In Pakistan — Looking Beyound The Incumbent," Oeconomics of Knowledge, Saphira Publishing House, vol. 5(3), pages 15-45, July.
    24. Karim Khan, 2015. "Endogenous Institutional Change and Privileged Groups," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 54(3), pages 171-195.

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