COMBATING CORRUPTION: THE VALUE OF ECONOMIC ANALYSIS

English Version

Recent advances in economic analysis have helped to clarify why corruption is so detrimental to economic development and to the efficient functioning of mature economies. More significantly, this research has produced some general guidelines for how to combat corruption. Writing in the November 2003 issue of the Economic Journal, Dr Toke Aidt of the University of Cambridge emphasises the importance of getting incentive structures right and avoiding inefficient policy measures.

Corruption – understood as an act in which the power of public office is used for personal gain in a manner that contravenes the rules – is a persistent feature of societies around the world and throughout history. The sale of parliamentary seats in ‘rotten boroughs’ in England before the Reform Act of 1832 is just one historical example. Contemporary examples also abound – and not just in developing countries like Nigeria, India and the Philippines and transition economies like Russia.

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