We address the impact of corruption in a developing economy in the context of an empirically relevant hold-up problem …'s bureaucracy, which can be centralized or decentralized, and characterize the quot;corruptibilityquot; of bureaucrats in each case …

We analyze the provision of infrastructure by a foreign investor when the domestic bureaucracy is corrupt, but puts … investment has been sunk, the bureaucracy may hold up the investor, using the threat of expropriation to demand a lower final …

Conventional wisdom depicts corruption as a tax on incumbent firms. This paper challenges this view in two ways. First …, by arguing that corruption matters not so much because of the value of the bribe ("tax"), but because of another less … studied feature of corruption, namely bribe unavoidability. Second, we argue that the social costs of corruption arise not …

those without. Using the recent anti-corruption campaign in China as a quasi-experiment, we investigate how endeavors for … counter-corruption affect inequality and potential cronyism in bureaucratic employment through inter-generational transmission …. First, we conduct a difference-in-differences analysis to compare changes in the probability of working in bureaucracy after …