Bangladesh, Feb. 16 -- Corruption has been around the globe for a very long time and it will be around in the future unless governments and organisations can figure out effec-tive ways to combat it.
Although studying the causes and consequences of corruption has a long his-tory, going back 50 years to seminal contributions on what economists call rent seeking, related empirical work on quantifying the extent of corruption and its economic effects has been limited. This is hardly surprising since most corruption is clandestine. As a consequence, corruption is notoriously hard to measure and empirical economic research on the subject is meagre.
The statements made at the multinational financial institutions' 1996 Annual Meetings by the Mana...