notes on reading # 29

notes on reading # 29 - CorruptionYouCanCountOn Fisman...

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Corruption You Can Count On  Fisman Conventional Wisdom: corruption kills economic development. Many countries that populate the lower rungs of Transparency International's annual corruption perception rankings are dismal economic failures. But to the discomfort of development economists and anti-corruption crusaders, some of the great economic success stories of the past half-century have taken place in the most corrupt economies on earth. In Transparency's first corruption ranking in 1995, the two countries that ranked as the most corrupt were Indonesia and China. Yet these ratings came amid decades long economic booms. Indonesia grew at 6% per year under Suharto, and since the death of Mao Zedong in 1976, the Chinese economy has grown at 9% annually, a rate unprecedented in modern history. Corruption is what has proven to be most damaging to investment and growth. Countries become rich because they save and invest, leading to higher productivity and
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This note was uploaded on 11/29/2010 for the course PSC 222 taught by Professor Jing during the Spring '10 term at Rochester.

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notes on reading # 29 - CorruptionYouCanCountOn Fisman...

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