This paper investigates the causal relationship between corruption and fixed capital investment in Russian regions. The … journalists' rights. Our main result is the strong negative effect of corruption on aggregate investment in fixed capital …. Disaggregating investment by ownership, we find that corruption decreases private investment, but not investment made by state …

corruption. Adverse interactions between politics, business and law enforcement generate obstacles for the rule of law and remain … for productivity improvements, which are urgently required to ensure stronger growth in Russia because of a shrinking …