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Can Economic Growth Make Corruption Worse?
May 9th, 2012
When we talk about economic growth and corruption, it is often in one direction: corruption hurts economic growth. One of the major reasons for this is that corruption increases risk and uncertainty for businesses and investors and provides a distinct disincentive for their investments. Lower investment levels lead to less economic growth. Less frequently, we say economic growth is an antidote to corruption. But this is also almost certainly true. The reasoning is somewhat complex and indirect, though. Economic growth does not directly ameliorate corruption. Rather, economic growth leads to better access to education, awareness of rights, empowerment of citizens,...
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Heywood Death Scandal in China Puts Focus on Illicit Financial Flows from World’s Second Largest Economy
April 16th, 2012
WASHINGTON, DC – As details surfaced today connecting the illicit outflow of assets from China in the suspicious death of British businessman Neil Heywood last November, Global Financial Integrity (GFI) highlighted China’s place as the largest victim of illicit financial outflows. The latest research from GFI estimates that the Asian nation suffered US$2.74 trillion in illicit financial outflows over the decade ending in 2009, more than quintupling the outflows from the next largest victim of illegal capital flight.
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