Path dependence as a concept in institutional theories has become increasingly popular in economics and other social sciences. The key idea is that in a sequence of events, the latter events are not (completely) independent from those that occurred in the past. Yet, common usage of the concept...

"This book suggests how high levels of corruption limit investment and growth can lead to ineffective government. Developing countries and those making a transition from socialism are particularly at risk, but corruption is a worldwide phenomenon. Corruption creates economic inefficiencies and...