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in investment between really decentralized and other firms declines as corruption grows. Empirical research presented in … institutions, such as that of Russia. However, as the role of non-market factors (such as corruption) in firms' prosperity …
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This paper argues that corruption in Russia is systemic in nature. Low wage levels of public officials provide strong … incentives to engage in corruption. As corruption is illegal, corrupt officials can be exposed any time, which enforces loyalty … towards the powers that be; thus corruption is a method of governance. We trace the systemic corruption back to the Mongolian …
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