Efforts to explain corruption have increased dramatically over the last few years. The interest stems from the increasing weight economists assign to corruption when explaining economic growth and from the availability of data that measure it. Much of the effort centers on how political...

Summary Efforts to explain corruption have increased dramatically in recent years. The interest stems from the increasing weight economists assign to corruption when explaining economic growth. A great deal of the research focuses on how political institutions influence perceptions of...

Placing constraints on elected officials is thought to bind their hands and render government policies credible. In turn, credible policies attract investment because investors can extend their policy and regulatory time horizons. Yet, a scholarship on LMICs suggests that too many constraints on...