Corrupt Capital
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| Author | : Kenneth Sebastian León |
| Publisher | : Routledge |
| Total Pages | : 235 |
| Release | : 2020-09-22 |
| Genre | : Law |
| ISBN | : 0429589379 |
This book offers a deep dive into the social, political, and economic forces that make white-collar crime and corruption a staple feature of the nightlife economy. The author, a former bouncer-turned-bartender of party bars and nightclubs in a large U.S. city, draws from an auto-ethnographic case study to describe and explain the routine and embedded nature of corruption and deviance among the regulators and the regulated in the nightlife environment. This text offers a contemporary and incisive theoretical framework on the criminogenic features and structural contradictions of capitalism. The author both describes and explains how the dominant political economy is rife with structural contradictions that, in turn, generate various manifestations of white-collar crime, organizational deviance, and public corruption. The author uses the bar and nightlife environment to empirically anchor these claims. Methodologically, the research is innovative in advancing inquiry into ethically and logistically challenging environments. The style of writing and framing of the text is one that punches upward and avoids the voyeuristic and reductionist tropes historically associated with "dangerous fieldwork." Through a range of disciplinary perspectives, Corrupt Capital offers both scholarly rigor and inviting prose to advance our understanding of crimes of the relatively powerful and powerless alike. An accessible and compelling text, this book will appeal to readers in criminology, sociology, law and society, political science, and all those interested in learning about the relationship between power, law, and routinized corruption in the nightlife economy.
| Author | : Shang-Jin Wei |
| Publisher | : World Bank Publications |
| Total Pages | : 32 |
| Release | : 2000 |
| Genre | : Bank loans |
| ISBN | : |
Corruption affects the composition of capital inflows in a way that may raise the likelihood of a currency crisis.
| Author | : |
| Publisher | : World Bank Publications |
| Total Pages | : 180 |
| Release | : 2000 |
| Genre | : Political Science |
| ISBN | : 9780821346006 |
Much of the devastation caused by the recent earthquake in Turkey was the result of widespread corruption between the construction industry and government officials. Corruption is part of everyday public life and we tend to take it for granted. However, preventing corruption helps to raise city revenues, improve service delivery, stimulate public confidence and participation, and win elections. This book is designed to help citizens and public officials diagnose, investigate and prevent various kinds of corrupt and illicit behaviour. It focuses on systematic corruption rather than the free-lance activity of a few law-breakers, and emphasises practical preventive measures rather than purely punitive or moralistic campaigns.
| Author | : Shang-Jin Wei |
| Publisher | : |
| Total Pages | : 28 |
| Release | : 2016 |
| Genre | : |
| ISBN | : |
Corruption affects the composition of capital inflows in a way that may raise the likelihood of a currency crisis.Crony capitalism and international creditors' self-fulfilling expectations are often suggested as rival explanations for currency crises. A possible link between the two has not been explored.Wei shows one channel through which crony capitalism can increase the chance of a currency/financial crisis by altering the composition of capital inflows.Using data on bilateral foreign direct investment and bilateral bank loans, Wei finds clear evidence that in corrupt countries the composition of capital inflows is relatively light in foreign direct investment.Earlier studies indicated that a country with a capital inflow structure is more likely to run into a currency crisis down the road (partly through international creditors' self-fulfilling expectations).Therefore, crony capitalism, through its effect on the composition of a country's capital inflows, makes the country more vulnerable to currency crises brought about by self-fulfilling expectations. Corruption may also weaken domestic financial supervision, with a subsequent deterioration in the quality in banks' and firms' balance sheets.This paper - a product of Public Economics, Development Research Group - is part of a larger effort in the group to understand the connection between corruption and international capital flows. This study was supported in part by a grant from the OECD Development Center. The author may be contacted at [email protected].
| Author | : Chong-En Bai |
| Publisher | : World Bank Publications |
| Total Pages | : 40 |
| Release | : 2001 |
| Genre | : Administracion publica |
| ISBN | : |
The extent of bureaucracy varies extensively across countries, but the quality of bureaucracy within a country changes more slowly than economic policies. The authors propose that the quality of bureaucracy may be an important structural determinant of open economy macroeconomic policies - especially the imposition or removal of capital control. In their model, capital controls are an instrument of financial repression. They entail efficiency loss for the economy but also generate implicit revenue for the government. The results show that bureaucratic corruption translates into the government's reduced ability to collect tax revenues. Even if capital controls and financial repression are otherwise inefficient, the government still has to rely on them to raise revenues to provide public goods. Among the countries for which the authors could get relevant data, they find that the more corrupt ones are indeed more likely to impose capital controls, a pattern consistent with the model's prediction. To deal with possible reverse causality, they use the extent of corruption in a country's judicial system, and the degree of democracy, as the instrumental variables for bureaucratic corruption. The instrumental variable regressions show the same result: more corrupt countries are associated with more severe capital controls. The results suggest that as countries develop and improve their public institutions, reducing bureaucratic corruption over time, they will choose to gradually liberalize their capital accounts. Removing capital controls prematurely when forced by outside institutions to do so could reduce rather than improve their economic efficiency.
| Author | : Willeke Slingerland |
| Publisher | : |
| Total Pages | : 0 |
| Release | : 2019-03-06 |
| Genre | : Social Science |
| ISBN | : 9789462368804 |
Corruption is generally referred to as bribery. This books deals with a different form of corruption: corruption caused by networks. Network corruption is the form of corruption in which the interaction of multiple actors within a social network results in corruption but in which the individual behaviour as such is not necessarily corrupt. The main reason for this research is that a gap appears to exist in the available theories on corruption: very little research is available on corruption by a network, nor does the network theory thoroughly discuss the risks or pitfalls of networks or how such a collective can become corrupt. As such this books offers a 'new layer' by clearly defining what distinguishes network corruption from corruption networks. The other reason for this research is the observation that policies and investigations appear to be limited in dealing with corruption in network-like structures. This book deals with the question how corruption is linked to the functioning of social networks. The available literature of both corruption and networks was reviewed. Some theories support the idea of collective acting and collective responsibility which can be used in cases of corruption by a network. The conceptual analysis results in one assessment frame which helps in distinguishing when networks are a form of social capital and when they deteriorate into corruption. The assessment frame was applied to three case studies from developed western societies in which corruption was brought in connection with a network (the international FIFA case, the News of the World International phone-hacking scandal from the United Kingdom and the Dutch city of Roermond). This allowed for a better understanding of the mechanisms and characteristics of networks. The findings on the link between networks and corruption gained from this book call for alternative routes for policy development and for a greater network awareness. This book concludes with policy recommendation and ways to ensure networks remain the essential Social Capital needed in our society.
| Author | : International Monetary Fund |
| Publisher | : International Monetary Fund |
| Total Pages | : 19 |
| Release | : 1998-03-31 |
| Genre | : Business & Economics |
| ISBN | : 1557757100 |
In some countries, corrupt politicians appear to choose investment projects based on the opportunity for bribes and kickbacks these projectspresent. This paper contends that such corruption increases the numberof capital projects undertaken and trends to enlarge their size andcomplexity. The result is that, paradoxically, some public investmentcan end up reducing a country's growth.
| Author | : Guy Standing |
| Publisher | : Biteback Publishing |
| Total Pages | : 289 |
| Release | : 2021-05-06 |
| Genre | : Political Science |
| ISBN | : 1785901117 |
Politicians, financiers and bureaucrats claim to believe in free competitive markets, yet they have built the most unfree market system ever created. In this Gilded Age, income is funnelled to the owners of property – financial, physical and intellectual – at the expense of society. Wages stagnate as labour markets are transformed by outsourcing, automation and the on-demand economy, generating more rental income while broadening the precariat. Now fully updated with an introduction examining the systemic issues exposed by Brexit and Covid-19, The Corruption of Capitalism argues that rentier capitalism is fostering revolt and presents a new income distribution system that would achieve the extinction of the rentier while encouraging sustainable growth.
| Author | : Matteo De Simone |
| Publisher | : |
| Total Pages | : 35 |
| Release | : 2015 |
| Genre | : Corporate governance |
| ISBN | : 9780993045714 |
"UK property has long been a safe haven for overseas investors seeking a stable political and business climate, financial security or an attractive place to live. However, there is growing evidence that it has also become a safe haven for corrupt capital stolen from around the world, facilitated by the laws which allow UK property to be owned by secret offshore companies. In order to reduce the risk that the UK is used as a safe haven for corrupt money, Transparency International's key recommendation is that transparency should be established over who owns the companies that in turn own so much property in the UK. The findings include: i) Over 180m pounds worth of property in the UK has been brought under criminal investigation as the suspected proceeds of corruption since 2004. Importantly, this is thought to represent only a small proportion of the total proceeds of corruption invested in UK property. UN estimates indicate that typical detection rates by law enforcement are only 1 per cent of total money laundering flows; ii) Over 75% of these properties make use of offshore corporate secrecy to hide their owner's identities, and this acts as a significant barrier to money laundering investigations. All foreign companies and trusts that hold titles for UK property under criminal investigation for grand corruption are registered in offshore secrecy jurisdictions rather than major economies; iii) 40,725 London property titles are held by foreign companies. 89 per cent of these titles are held by companies incorporated in secrecy jurisdictions, covering approximately 2.25 square miles of London property."--Executive summary.
| Author | : Roy Cullen |
| Publisher | : Dundurn |
| Total Pages | : 184 |
| Release | : 2008-05-27 |
| Genre | : Philosophy |
| ISBN | : 1926577310 |
The fight to eliminate world poverty is being severely hampered by corrupt leaders in developing countries. According to the African Union, some $150 billion is lost every year to corruption in Africa. In China, it is estimated corruption diminishes the annual value of gross domestic product by 15%. The pattern repeats itself elsewhere. This bleak situation compounds the poverty problem even more because donor countries are justifiably reluctant to support jurisdictions whose leaders are known to be corrupt, ignoring their citizens’ needs while stealing and laundering public funds for private use. What development does occur in chronically corrupt nations is often poorly planned and environmentally unsustainable, since the private gain of corrupt politicians and officials takes precedence over the implementation of sound development strategies. Likewise, bureaucratic corruption also results in the compromising of worker and consumer safety after all, a bribe costs less than obeying the law. And it is the poor who really pay the true cost of corruption. The Poverty of Corrupt Nations is a straightforward, easy-to-read exposition of the nature and scope of global corruption and money laundering, explaining the impact of recent troubling corruption trends on the public-at-large and public policy makers. Specifically, Cullen examines the links between world poverty, corruption, terrorism, global migration patterns, and money laundering. Constructively, Cullen then outlines a practical 20-point program to increase transparency and accountability in governments and parliaments around the world and break this cycle of corruption and poverty.
