Topic 5: Corruption and Economic Development The World Bank has identified corru

Topic 5: Corruption and Economic Development The World Bank has identified corruption as the single greatest obstacle to economic and social development because it weakens the institutional foundation on which economic growth depends and because it undermines equality. The relationship between corruption and growth however is not a simple one. How many kinds of corruption are there? How or why are they different? Is one kind better for growth than the other? Explain briefly. Hint: reading chapter 12 in Easterly (2) will help. In your opinion what is/are the major causes of corruption? Consequently what policies do you think would be effective in curbing corruption? Why or how?

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