The objectives of government are pivotal to understanding the diverse negative effects of corruption on public welfare …. Corruption renders governments unable or unwilling to maximize welfare. In the first case, it distorts agents' decisions and … door to opportunism. …

We investigate the relationship between corruption and political stability, from both theoretical and empirical …-shaped relationship between total corruption and stability. On the empirical side, we find a robust U-shaped pattern between country … indices of corruption perception and various measures of incumbent stability, including historically-observed average tenures …

public life. Cheaper plomo and more resources subject to official discretion are associated with more frequent corruption and … cheaper plata can lower the ability of public officials. Protecting officials from accusations of corruption (immunity) will … decrease the frequency of corruption and may increase the quality of politicians if the judiciary is weak. These predictions …

show why corruption is a problem of the state rather than the market …

or inefficient for society. Rent-seeking is inefficient because it reduces societal welfare. But according to a …