The Economics of Corruption in Less Developed Countries: A Review of Issues
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In this paper we start with a discussion of some of the different denotations of the problem of
corruption. We then consider the ways in which the damaging consequences of corruption
operate in the economy, while not ignoring its possible redeeming features in some cases.
We pursue the question of why corruption is perceptibly so different in different societies and
also so persistent. Finally, we examine the feasible policy issues that arise.