Corruption is thought to prevent poor countries from catching-up. We analyze one channel through which corruption …-seeking. At equilibrium, the intensity of corruption and the structure of public investment are determined by the predatory … without corruption in which there is no effective corruption yet still the possibility of corruption distorts the allocation …

We bridge the gap between the standard theory of growth and the mostly static theory of corruption. Some public … institutional parameters: the "technology of corruption" is the ease with which rent-seekers can capture a proportion of public … corruption are different according to the constraints that are binding at equilibrium. In particular, the effect of judicial …

This paper studies the effect of soft-budget constraints in a pure adverse selection model of monopoly regulation. We …

tools for economic regulation. DEA is now routinely used by European regulators to set reasonable revenue caps for energy … transmission and distribution system operators. The application of benchmarking in regulation, however, requires specific steps in … review the modern foundations for frontier-based regulation and we discuss its actual use in several jurisdictions. …