{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

What effects on economic efficiency

Cronyism is bad for non influential firms cronyism

Info icon This preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: rite laws that remove tariffs or create tax loopholes Bribes, graft, wonga, bakhsheesh are usually illegal but lobbying networks of influence, guanxi, wasta, are usually legal They are not substitutes: Lobbying usually is sector- specific, bribes are firm- specific Lobbying (LOOK AT SLIDES) US Foreign Corrupt Practices Act: Bribery: Payment or service to another individual, organization or government agency to INFLUENCE the latter To obtain or retain a business arrangement illegal “Facilitation payment” made at the request of a foreign official in order to expedite ROUTINE GOVERNMENT ACTION not made to establish or renew a business arrangement but to speed up the process of implementing or carrying out a previously established business arrangement legal as long as lawful under the “written laws” of the foreign country Understanding “cronyism” Most development spets, for a long time focused entirely on bribe collection by bureaucrats...
View Full Document

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern