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Corruption: The Boom and Bust of East Asia

J. Edgardo Campos
Price: $ 20

Governance and corruption have finally come to the fore of the development debate. While interest in governance began to surge in the 1990s, the East Asian crisis has catapulted the issue to prominence. Analysts and academics, in a spate of articles and books, have added their voices to the chorus of criticism of the so-called Asian miracle. Their verdict: Bad governance and corruption did the "miracle" countries in.

Taking a different perspective, this book asks and attempts to answer how these countries were able to attract enormous amounts of investment and enjoy rapid growth over a thirty year period despite being perceived as hotbeds of corruption. As conventional wisdom would have it, high rates of investment are inconsistent with high levels of corruption. While this may be true in general, the chapters in this volume suggest that we need to look into the nature of corruption. Different types of corruption have varying effects on investment.

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