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Rent seeking and the economics of corruption

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  • Toke S Aidt

Abstract

The paper studies the influence of Gordon Tullock (1967) and the rent-seeking literature more generally on the study of corruption. The theoretical corruption literature with its emphasis on principal-agent relationships within government and rent creation by corruption politicians has largely, but not entirely, overlooked that contestable rents encourage unproductive use of real resources in seeking these rents. As a consequence, the literature underestimates the value of corruption control and the cost of corruption itself.

Suggested Citation

  • Toke S Aidt, 2016. "Rent seeking and the economics of corruption," Cambridge Working Papers in Economics 1621, Faculty of Economics, University of Cambridge.
    • Handle: RePEc:cam:camdae:1621
    Note: tsa23
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    JEL classification:

    • D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior

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