In this distinguished lecture, world-renowned economist Vito Tanzi surveys issues related to the role of corruption in economic activities. Besides highlighting the various factors that contribute to a climate that makes corruption prevalent, he discusses some of the channels through which corruption distorts economic decisions, and impacts negatively on the level of economic growth.
In addition, he sheds light on actions taken to reduce the scope of corruption, ranging from international initiatives to promote integrity and ethics in international dealings to initiatives by
specific countries. To conclude, he stresses that the war against corruption cannot rely on a magic bullet but has to be fought on many fronts, including major restructuring, political and administrative reforms, and the elimination and simplification of many rules and regulations.
Author(s): Vito Tanzi