If bureaucratic burden and delay are exogenous, a firm may find bribes a helpful way to cut through red tape. According to the "efficient grease" hypothesis, corruption can improve economic efficiency, and, fighting bribery can be counterproductive. This need not be the case. In a general equilibrium in which regulatory burden and delay can be endogenously chosen by rent-seeking bureaucrats, the effective (not just nominal) red tape and bribery may...
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INFORMATION
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1999/12/31
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Document de travail de recherche sur les politiques
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WPS2254
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1
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1
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2010/07/01
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Does "grease money" speed up the wheels of commerce?
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corruption
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