Open AccessCorruption and the economy
Author(s) -
Vito Tanzi
Publication year - 2013
Publication title -
filozofija i društvo
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.116
H-Index - 1
eISSN - 2334-8577
pISSN - 0353-5738
DOI - 10.2298/fid1301033t
Subject(s) - language change , magic bullet , political corruption , politics , economics , political economy , magic (telescope) , market economy , economic system , development economics , political science , law , art , bioinformatics , physics , literature , quantum mechanics , biology
This paper focuses on the economic and not on the political impact of corruption. Corruption delegitimizes the working of a market economy, as well as the outcomes of political processes. This paper highlights ways in which corruption, by distorting economic decisions and the working of the market economy, inevitably reduces a country’s rate of growth. The paper also discusses some of the channels through which corruption distorts various economic decisions. Finally, the paper reports on some actions that have been taken by countries in their attempt to reduce corruption stressing that the fight against corruption cannot rely on a magic bullet but has to be fought on many fronts