Cost of corruption. Economic, institutional and social effects (The)

Corruption and the distortions it produces are a burden on society as a whole. Marco Arnone and Eleni Iliopulos do not just deal with the economic dimension of the problem, but investigate its institutional and social aspects trying to explain its origin as well as to provide a set of measures to counteract its dangerous consequences. The impact of corruption is analyzed considering its costs at the level of firms and markets; its impact on growth, investment and interest rates; its effects on the political and economic institutions and society: the public expenditure management, education, health, integration and human development. Strength of the study is the international perspective with data collected on a sample of 150 countries. A particular focus is devoted to the dynamics that characterize Italy, where, unfortunately, the persistence and pervasiveness of corruption are higher than the average of other advanced countries.