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Submitted by Anonymous on

The question of what to do about corruption is the subject of my next blog. I will ask you, therefore, to be a bit patient. Your question is obviously critically important. I would not argue that corruption is helpful to development. Economic growth depends on many factors and some of these may matter for some countries at some periods of time more than the (negative) presence of corruption. Two recent examples that come to mind are massive urbanization in China over the past 2-3 decades, which has been an engine of economic growth, notwithstanding the fact that the country has serious issues with corruption. Russia and other commodity producers had a good growth performance in the decade prior to the 2008-2009 global financial crises, despite the fact that they also have huge issues of corruption and other institutional weaknesses.