Feb 8, 2009

Oil against graft and the economics of corruption

If I understand well, this graph shows how corruption (in red) follows the price of oil in Russia. The crisis and its lower oil prices are hence a blessing for some...the whole article is here (via doing business, obviously)

In other corruption news, I liked this short and incredibly to the point article on the perverse effects of corruption in developing countries, here Kenya (from The Economist).
"How was it that the building lacked the fire-safety features required by law? For many Kenyans, the answers lie in the way that regulations are often waived for bribes [...] But it is doubtful whether the government is strong enough to stamp out the petty bribes that foster the carnage, especially when the culture of corruption includes so many higher up."

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