In Turkey, the apartment buildings that collapse during earthquakes are known as “bribe buildings.” In Africa, bridges dot the landscape with no roads to connect them. There’s no doubt that corruption, endemic in emerging economies around the world, throws economic development into chaos. It affects decisions made by bureaucrats, degrades the quality of those in power, and discourages foreign investment. Wharton legal studies professor Phil Nichols talks about his research on corruption and suggests ways to combat it.
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