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When is Corruption a Substitute for Economic Freedom?

Art Carden

Brock School of Business, Samford University

Lisa L. Verdon

College of Wooster

March 29, 2010

Law and Development Review, Forthcoming

Corruption supposedly reduces economic development by creating an uncertain contracting environment and by preventing the state from efficiently providing public goods and correcting externalities. However, corruption can be efficiency-enhancing in countries with relatively little economic freedom. Corruption in the military appears to reduce economic growth, while corruption in the educational environment appears to increase economic growth. On net, evidence suggests that corruption is growth-increasing when economic freedom is low.

Number of Pages in PDF File: 35

Keywords: Corruption, Economic Freedom, Economic Growth

JEL Classification: D73, O10, O43

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Date posted: May 13, 2008 ; Last revised: April 4, 2010

Suggested Citation

Carden, Art and Verdon, Lisa L., When is Corruption a Substitute for Economic Freedom? (March 29, 2010). Law and Development Review, Forthcoming. Available at SSRN: http://ssrn.com/abstract=1132751

Contact Information

Art Carden (Contact Author)
Brock School of Business, Samford University ( email )
800 Lakeshore Drive
Birmingham, AL 35229
United States
HOME PAGE: http://www.artcarden.com
Lisa Verdon
College of Wooster ( email )
Wooster, OH 44691
United States
(330)263-2216 (Phone)
HOME PAGE: http://web.me.com/lverdon/Lisa_L_Verdon/Home.html
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