This was once controversial, but I now think that economists have settled into thinking that corruption is bad overall:
“Does corruption sand or grease the wheels of economic growth? This column reviews recent research that uses meta-analysis techniques to try to provide more concrete answers to this old-age question. From a unique, comprehensive data base of 460 estimates of the impact of corruption on growth from 41 studies, the main conclusion that emerges is that there is little support for the “greasing the wheels” hypothesis.”
I don’t think that addresses my comment. I’m not talking about corruption as a general phenomenon being correlated with higher growth. I’m talking about corruption being a political phenomenon and anti-corruption being a cause-blind political intervention. Without local knowledge you don’t know if you’re improving things or not. Political economy doesn’t equal economics. But thanks, useful article!
This was once controversial, but I now think that economists have settled into thinking that corruption is bad overall:
“Does corruption sand or grease the wheels of economic growth? This column reviews recent research that uses meta-analysis techniques to try to provide more concrete answers to this old-age question. From a unique, comprehensive data base of 460 estimates of the impact of corruption on growth from 41 studies, the main conclusion that emerges is that there is little support for the “greasing the wheels” hypothesis.”
http://www.voxeu.org/article/does-corruption-sand-or-grease-wheels-economic-growth
I don’t think that addresses my comment. I’m not talking about corruption as a general phenomenon being correlated with higher growth. I’m talking about corruption being a political phenomenon and anti-corruption being a cause-blind political intervention. Without local knowledge you don’t know if you’re improving things or not. Political economy doesn’t equal economics. But thanks, useful article!