Anatomy of Corruption: An Approach to the Political Economy of Underdevelopment

American Journal of Economics and Sociology, Forthcoming

17 Pages Posted: 4 Apr 2015

Date Written: April 2, 2015

Abstract

An examination and critique of the functionalist literature on corruption in the political administration of less developed countries (LDCs) indicate that its claims are without empirical foundation. Its theses with regard to the political, economic and administrative effects in most LDCs contrast with the facts. No benefits for development from corruption are found; market corruption, for example, does not appear to improve allocative efficiency. The erosion in a government's capacity to formulate and implement policies making for economic growth is an obstacle to economic progress.

Keywords: corruption, politics, economic development, economic growth, efficiency, policy implementation, markets, administrative efficiency, bribery, bribes, extortion

JEL Classification: H19, H79, H80, K40, K42

Suggested Citation

Alam, Mohammad Shahid, Anatomy of Corruption: An Approach to the Political Economy of Underdevelopment (April 2, 2015). American Journal of Economics and Sociology, Forthcoming, Available at SSRN: https://ssrn.com/abstract=2589189 or http://dx.doi.org/10.2139/ssrn.2589189

Mohammad Shahid Alam (Contact Author)

Northeastern University ( email )

220 B RP
Boston, MA 02115
United States

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