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This book constitutes a thorough analysis of the phenomenon of
corruption, as seen from the perspective of New Institutional
Economics - one of the most influential new schools of thought in
the social sciences of the past decade.
This book constitutes a thorough analysis of the phenomenon of
corruption, as seen from the perspective of New Institutional
Economics - one of the most influential new schools of thought in
the social sciences of the past decade.
Corruption has been a feature of public institutions for centuries
yet only relatively recently has it been made the subject of
sustained scientific analysis. Lambsdorff shows how insights from
institutional economics can be used to develop a better
understanding of why corruption occurs and the best policies to
combat it. He argues that rather than being deterred by penalties,
corrupt actors are more influenced by other factors such as the
opportunism of their criminal counterparts and the danger of
acquiring an unreliable reputation. This suggests a novel strategy
for fighting corruption similar to the invisible hand that governs
competitive markets. This strategy - the 'invisible foot' - shows
that the unreliability of corrupt counterparts induces honesty and
good governance even in the absence of good intentions. Combining
theoretical research with state-of-the-art empirical
investigations, this book will be an invaluable resource for
researchers and policy-makers concerned with anti-corruption
reform.
Corruption has been a feature of public institutions for centuries
yet only relatively recently has it been made the subject of
sustained scientific analysis. Lambsdorff shows how insights from
institutional economics can be used to develop a better
understanding of why corruption occurs and the best policies to
combat it. He argues that rather than being deterred by penalties,
corrupt actors are more influenced by other factors such as the
opportunism of their criminal counterparts and the danger of
acquiring an unreliable reputation. This suggests a novel strategy
for fighting corruption similar to the invisible hand that governs
competitive markets. This strategy - the 'invisible foot' - shows
that the unreliability of corrupt counterparts induces honesty and
good governance even in the absence of good intentions. Combining
theoretical research with state-of-the-art empirical
investigations, this book will be an invaluable resource for
researchers and policy-makers concerned with anti-corruption
reform.
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