Corruption is motivated by the possibility of securing something of value for oneself and one s allies. The desire to secure benefits is a human trait and generally positive for development; various forms of rewards drive humans to get up in the morning, do a good job, and act responsibly. The...

Corruption and thefts of public assets harm a diffuse set of victims, weakens confidence in public institutions, damages the private investment climate, and threatens the foundations of the society as a whole. In developing countries with scarce public resources, the cost of corruption is an...

This paper assesses the role of non-bank financial institutions and capital markets in the financial sectors of the eight first-wave of Eastern European EU accession countries (the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Slovakia, and Slovenia), the current state of...