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Corruption and market reform

Author

Listed:
  • Tina Søreide
  • Kjetil Bjorvatn

Abstract

Market reforms in developing and transition economies have sometimes failed to deliver the desired welfare effects. Corruption may be an important reason for the ineffciency of market reforms, such as privatization campaigns. The present paper demonstrates how corruption can affect the choice of buyer of a public asset. Our main result is that market reform in highly corrupt societies is likely to result in less competition and less economic effciency than reform in less corrupt societies. We also demonstrate that the level of bribes in the sale of public assets does not necessarily increase in the government's emphasis on bribes.

Suggested Citation

  • Tina Søreide & Kjetil Bjorvatn, 2003. "Corruption and market reform," CMI Working Papers WP 2003:7, CMI (Chr. Michelsen Institute), Bergen, Norway.
    • Handle: RePEc:chm:wpaper:wp2003-7
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    File URL: https://www.cmi.no/publications/file/1557-corruption-and-market-reform.pdf
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    Citations

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    Cited by:

    1. Antonio Estache & L. Wren-Lewis, 2008. "Towards a Theory of Regulation for Developing Countries: Following Laffont's Lead," Working Papers ECARES 2008_018, ULB -- Universite Libre de Bruxelles.

    More about this item

    Keywords

    Corruption; market reform; privatization;
    All these keywords.

    JEL classification:

    • F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business
    • L12 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Monopoly; Monopolization Strategies

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