Three aspects of corruption

Francis T. Lui

Three aspects of corruption

Francis T. Lui^*

^*Corresponding author for this work

Department of Economics

Research output: Contribution to journal › Journal Article › peer-review

66 Citations (Scopus)

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.

Original language	English
Pages (from-to)	26-29
Number of pages	4
Journal	Contemporary economic policy
Volume	14
Issue number	3
Publication status	Published - Jul 1996

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

SDG 8 Decent Work and Economic Growth
SDG 16 Peace, Justice and Strong Institutions

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https://hdl.handle.net/1783.1/44947

Cite this

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title = "Three aspects of corruption",

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.",

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N2 - 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.

AB - 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.

UR - https://www.webofscience.com/wos/woscc/full-record/WOS:A1996UW37600004

UR - https://www.scopus.com/pages/publications/21344432815

M3 - Journal Article

SN - 1074-3529

VL - 14

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EP - 29

JO - Contemporary economic policy

JF - Contemporary economic policy

IS - 3

ER -

Three aspects of corruption

Abstract

UN SDGs

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