This public sector note analyzes the issue of the growing recognition and discussion of corruption, and in turn facilitates addressing its costs and causes. Through the examination of corruption causes in developing countries and transition economies, it is suggested that prevailing bribery, hence corruption, imposes a significant tax on foreign direct investment in all regions. Thus the cost of capital for firms increases greatly. The note focuses...
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Citation
Gray,Cheryl W.; Kaufman, Daniel.
Corruption and development (English). PREM Notes|no. 4. Public Sector Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/498711468170677681