Corruption and the Political Economy of Resource-Based Development: A Comparison of Asia and Sub-Saharan Africa |
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Authors: | Edward B Barbier |
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Institution: | 1.Department of Economics & Finance,University of Wyoming,Laramie,USA |
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Abstract: | We model how the “supply and demand” for bribes affects resource use by an economy, and the reinvestment of resource rents
in other assets. This requires adjusting the World Bank’s measure adjusted net savings for any rent dissipation due to corruption.
The impacts of corruption on long-run changes and periodic growth in the adjusted net savings rate are estimated across African
and Asian economies from 1970 to 2003. Corruption rather than resource dependency per se affects negatively the ability of
African countries to reinvest resource rents in the short term, but for Asian countries, corruption is less important than
point resources. Corruption influences long-run growth in adjusted net savings rates in all countries, and is also the “pathway”
through which this growth is affected by patterns of resource use, trade and abundance. |
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Keywords: | |
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