Enrichment with Growth
This essay first sets out the "business model" problems entailed by corruption and their effects as well as implications for economic growth. Key issues are the need for secrecy and co-operation with partners in crime. Dealing with these...
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| Format: | Policy Research Working Paper |
| Language: | English |
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2012
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| Online Access: | http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20111024140343 http://hdl.handle.net/10986/3621 |
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okr-10986-36212021-04-23T14:02:11Z Enrichment with Growth Klein, Michael ABUSE ACCOUNTING ALLOCATION OF FUNDS ALTERNATIVE EMPLOYMENT ANTI-CORRUPTION ARBITRATION ASSETS AUCTION BANK ACCOUNTS BANKING SYSTEM BANKRUPTCY BANKS BASIC BRIBE BRIBES BUSINESS ASSOCIATIONS BUSINESS OWNERS BUSINESS RELATIONS BUSINESS SUCCESS CIVIL SERVANTS CODES CORPORATE GOVERNANCE CORRUPT CORRUPT PEOPLE CORRUPT PRACTICES CORRUPTION COST ESTIMATES CRIME CRISES CRONY DEBT DEMOCRACY DEVELOPMENT ECONOMICS DISCRETION DIVERSIFIED PORTFOLIO DOMESTIC MARKET ECONOMIC ACTIVITY ECONOMIC ANALYSIS ECONOMIC DEVELOPMENT ECONOMIC EFFICIENCY ECONOMIC GROWTH ECONOMIC POLICIES ECONOMIC POLICY ECONOMICS ENGINEERING EQUIPMENT ETHNIC GROUP ETHNIC GROUPS EXPENDITURES EXTERNAL SHOCK FAMILIES FINANCES FINANCIAL CRISIS FINANCIAL PERFORMANCE FOREIGN EXCHANGE GOVERNANCE STANDARDS GOVERNMENT FINANCES GOVERNMENT FUNDING GRAND CORRUPTION HOLDING HOLDINGS INCOME LEVEL INCOME LEVELS INNOVATION INTERNATIONAL BANK LAND REFORM LAND REFORMS LAWYERS LEGAL RIGHT LOSS STATEMENTS MARKET ECONOMIES MARKET FAILURE MINISTER MINISTERS MINORITY SHAREHOLDERS MONOPOLY OIL BOOMS OIL PRICES OPERATING COSTS PENSION PENSION FUND PERSONAL GAIN POLICE POLICES POLICY ENVIRONMENT POLITICAL LEADERS POLITICAL SCIENTISTS POLITICIANS PORTFOLIO PORTFOLIOS PREFERENTIAL PRIVATE DEBT PRIVATE DEBT MARKETS PRIVATE GAIN PRIVATIZATION PROCUREMENT PRODUCTIVITY PRODUCTIVITY GROWTH PROPERTY RIGHTS PROSECUTION PUBLIC POLICY PUBLIC-PRIVATE PARTNERSHIPS REGISTRATION SYSTEM RENTS RESIDUAL RISK RETURN RULE OF LAW RULING PARTY SCANDAL SOURCES OF INCOME SUPPLIERS TAX THEFT TRANSACTION TRANSACTION COSTS TRANSPARENCY TRIALS UNION VALUATION WEALTH CREATION This essay first sets out the "business model" problems entailed by corruption and their effects as well as implications for economic growth. Key issues are the need for secrecy and co-operation with partners in crime. Dealing with these leads to behavior which is ostensibly bizarre and undermines economic efficiency, but is in fact a rational way of managing corrupt practices. However, different economic policies can be pursued that are compatible with corruption. Some are more pro-growth than others. Pro-growth corrupt policies hold the promise of enriching the corrupt elite more in absolute terms even though the share of national wealth diverted may be smaller. The most effective pro-growth polices that help enrich an elite resemble fairly orthodox economic policy prescriptions. Eventually the abolition of corruption holds the greatest promise to enhance growth and with it the wealth of elites. The expectation of such growth may explain why more and more political elites pursue "sound" economic policy and may embrace anti-corruption efforts, while securing legal ways of enrichment for themselves. Country examples illustrate policy approaches with different combinations of enrichment and growth properties. 2012-03-19T18:05:43Z 2012-03-19T18:05:43Z 2011-10-01 http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20111024140343 http://hdl.handle.net/10986/3621 English Policy Research working paper ; no. WPS 5855 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Publications & Research :: Policy Research Working Paper The World Region The World Region |
| repository_type |
Digital Repository |
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Foreign Institution |
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Digital Repositories |
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World Bank Open Knowledge Repository |
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World Bank |
| language |
English |
| topic |
ABUSE ACCOUNTING ALLOCATION OF FUNDS ALTERNATIVE EMPLOYMENT ANTI-CORRUPTION ARBITRATION ASSETS AUCTION BANK ACCOUNTS BANKING SYSTEM BANKRUPTCY BANKS BASIC BRIBE BRIBES BUSINESS ASSOCIATIONS BUSINESS OWNERS BUSINESS RELATIONS BUSINESS SUCCESS CIVIL SERVANTS CODES CORPORATE GOVERNANCE CORRUPT CORRUPT PEOPLE CORRUPT PRACTICES CORRUPTION COST ESTIMATES CRIME CRISES CRONY DEBT DEMOCRACY DEVELOPMENT ECONOMICS DISCRETION DIVERSIFIED PORTFOLIO DOMESTIC MARKET ECONOMIC ACTIVITY ECONOMIC ANALYSIS ECONOMIC DEVELOPMENT ECONOMIC EFFICIENCY ECONOMIC GROWTH ECONOMIC POLICIES ECONOMIC POLICY ECONOMICS ENGINEERING EQUIPMENT ETHNIC GROUP ETHNIC GROUPS EXPENDITURES EXTERNAL SHOCK FAMILIES FINANCES FINANCIAL CRISIS FINANCIAL PERFORMANCE FOREIGN EXCHANGE GOVERNANCE STANDARDS GOVERNMENT FINANCES GOVERNMENT FUNDING GRAND CORRUPTION HOLDING HOLDINGS INCOME LEVEL INCOME LEVELS INNOVATION INTERNATIONAL BANK LAND REFORM LAND REFORMS LAWYERS LEGAL RIGHT LOSS STATEMENTS MARKET ECONOMIES MARKET FAILURE MINISTER MINISTERS MINORITY SHAREHOLDERS MONOPOLY OIL BOOMS OIL PRICES OPERATING COSTS PENSION PENSION FUND PERSONAL GAIN POLICE POLICES POLICY ENVIRONMENT POLITICAL LEADERS POLITICAL SCIENTISTS POLITICIANS PORTFOLIO PORTFOLIOS PREFERENTIAL PRIVATE DEBT PRIVATE DEBT MARKETS PRIVATE GAIN PRIVATIZATION PROCUREMENT PRODUCTIVITY PRODUCTIVITY GROWTH PROPERTY RIGHTS PROSECUTION PUBLIC POLICY PUBLIC-PRIVATE PARTNERSHIPS REGISTRATION SYSTEM RENTS RESIDUAL RISK RETURN RULE OF LAW RULING PARTY SCANDAL SOURCES OF INCOME SUPPLIERS TAX THEFT TRANSACTION TRANSACTION COSTS TRANSPARENCY TRIALS UNION VALUATION WEALTH CREATION |
| spellingShingle |
ABUSE ACCOUNTING ALLOCATION OF FUNDS ALTERNATIVE EMPLOYMENT ANTI-CORRUPTION ARBITRATION ASSETS AUCTION BANK ACCOUNTS BANKING SYSTEM BANKRUPTCY BANKS BASIC BRIBE BRIBES BUSINESS ASSOCIATIONS BUSINESS OWNERS BUSINESS RELATIONS BUSINESS SUCCESS CIVIL SERVANTS CODES CORPORATE GOVERNANCE CORRUPT CORRUPT PEOPLE CORRUPT PRACTICES CORRUPTION COST ESTIMATES CRIME CRISES CRONY DEBT DEMOCRACY DEVELOPMENT ECONOMICS DISCRETION DIVERSIFIED PORTFOLIO DOMESTIC MARKET ECONOMIC ACTIVITY ECONOMIC ANALYSIS ECONOMIC DEVELOPMENT ECONOMIC EFFICIENCY ECONOMIC GROWTH ECONOMIC POLICIES ECONOMIC POLICY ECONOMICS ENGINEERING EQUIPMENT ETHNIC GROUP ETHNIC GROUPS EXPENDITURES EXTERNAL SHOCK FAMILIES FINANCES FINANCIAL CRISIS FINANCIAL PERFORMANCE FOREIGN EXCHANGE GOVERNANCE STANDARDS GOVERNMENT FINANCES GOVERNMENT FUNDING GRAND CORRUPTION HOLDING HOLDINGS INCOME LEVEL INCOME LEVELS INNOVATION INTERNATIONAL BANK LAND REFORM LAND REFORMS LAWYERS LEGAL RIGHT LOSS STATEMENTS MARKET ECONOMIES MARKET FAILURE MINISTER MINISTERS MINORITY SHAREHOLDERS MONOPOLY OIL BOOMS OIL PRICES OPERATING COSTS PENSION PENSION FUND PERSONAL GAIN POLICE POLICES POLICY ENVIRONMENT POLITICAL LEADERS POLITICAL SCIENTISTS POLITICIANS PORTFOLIO PORTFOLIOS PREFERENTIAL PRIVATE DEBT PRIVATE DEBT MARKETS PRIVATE GAIN PRIVATIZATION PROCUREMENT PRODUCTIVITY PRODUCTIVITY GROWTH PROPERTY RIGHTS PROSECUTION PUBLIC POLICY PUBLIC-PRIVATE PARTNERSHIPS REGISTRATION SYSTEM RENTS RESIDUAL RISK RETURN RULE OF LAW RULING PARTY SCANDAL SOURCES OF INCOME SUPPLIERS TAX THEFT TRANSACTION TRANSACTION COSTS TRANSPARENCY TRIALS UNION VALUATION WEALTH CREATION Klein, Michael Enrichment with Growth |
| geographic_facet |
The World Region The World Region |
| relation |
Policy Research working paper ; no. WPS 5855 |
| description |
This essay first sets out the
"business model" problems entailed by corruption
and their effects as well as implications for economic
growth. Key issues are the need for secrecy and co-operation
with partners in crime. Dealing with these leads to behavior
which is ostensibly bizarre and undermines economic
efficiency, but is in fact a rational way of managing
corrupt practices. However, different economic policies can
be pursued that are compatible with corruption. Some are
more pro-growth than others. Pro-growth corrupt policies
hold the promise of enriching the corrupt elite more in
absolute terms even though the share of national wealth
diverted may be smaller. The most effective pro-growth
polices that help enrich an elite resemble fairly orthodox
economic policy prescriptions. Eventually the abolition of
corruption holds the greatest promise to enhance growth and
with it the wealth of elites. The expectation of such growth
may explain why more and more political elites pursue
"sound" economic policy and may embrace
anti-corruption efforts, while securing legal ways of
enrichment for themselves. Country examples illustrate
policy approaches with different combinations of enrichment
and growth properties. |
| format |
Publications & Research :: Policy Research Working Paper |
| author |
Klein, Michael |
| author_facet |
Klein, Michael |
| author_sort |
Klein, Michael |
| title |
Enrichment with Growth |
| title_short |
Enrichment with Growth |
| title_full |
Enrichment with Growth |
| title_fullStr |
Enrichment with Growth |
| title_full_unstemmed |
Enrichment with Growth |
| title_sort |
enrichment with growth |
| publishDate |
2012 |
| url |
http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20111024140343 http://hdl.handle.net/10986/3621 |
| _version_ |
1764387480022286336 |