There is a clear and persistent inequality of bureaucratic employment between individuals with a bureaucrat parent and those without. Using the recent anti-corruption campaign in China as a quasi-experiment, we investigate how endeavors for counter-corruption affect inequality and potential...

There is a clear and persistent inequality of bureaucratic employment between individuals with a bureaucrat parent and those without. Using the recent anti-corruption campaign in China as a quasi-experiment, we investigate how endeavors for counter-corruption affect inequality and potential...

There is a clear and persistent inequality of bureaucratic employment between individuals with a bureaucrat parent and those without. Using the recent anti-corruption campaign in China as a quasi-experiment, we investigate how endeavors for counter-corruption affect inequality and potential...

The financial sector is characterized by complexity due to the management of a large volume of transactions, which can lead to the difficulty of considering, identifying, and monitoring them. The lack of mechanisms in monitoring and control transactions can contribute to the development of...

This study examines the effects of anti-corruption and equity incentive risk on financial misreporting in the context of China’s unique corporate ownership structure and governance regime. Using a sample comprising 2,708 cases of financial restatement over the 2007-2017 period. Our key...

There is a clear and persistent inequality of bureaucratic employment between individuals with a bureaucrat parent and those without. Using the recent anti-corruption campaign in China as a quasi-experiment, we investigate how endeavors for counter-corruption affect inequality and potential...

This study focuses on one form of IFF, namely corruption and the resultant money laundering. The central aim is to describe and analyse the symbiotic relationship between corruption and money laundering and how they mutually reinforce an IFF ecosystem inclined towards draining resources needed...

Estimates show that Ghana losses approximately 30 percent of domestic revenue to corruption. Although losses due to corruption in Ghana’s extractive sector have not yet been quantified, the sector is plagued with incidents of corruption despite the country's commitment to international...

We use China's recent anti-corruption campaign as a natural experiment to examine the (market expected) equilibrium consequences of (anti-)corruption. We argue that the announcement of inspections of provincial governments by the Central Commission for Discipline Inspection (CCDI) on May 17,...

We study the value of the political connections of directors on Chinese boards. We build a new dataset that measures connections of directors to members of the Politburo via past school ties, and find that private firms with politically connected directors in the boardroom get on average about...

This paper investigates the impact of institutional reform in the form of anticorruption on corporate investment decision-making in Vietnam, a country characterized by a socialist-orientation economy and the dominance of the public sector. Analysing different firm datasets of during 2006-2019,...

Registers that collect data on beneficial owners, individuals who, either directly or indirectly, has the power to control companies or enjoy the benefits of ownership, are being implemented in many countries as part of the AML measures. Governments here want to know benefits from a company, to...

Tackling corruption regularly appears on the agendas of almost all governments. Anti-corruption public policies aim to prevent corrupt behaviour both at the highest levels of government and in everyday social life. On the one hand, corruption seriously undermines the democratic principles of the...

This IMF Departmental Paper presents the key areas in which countries of the Middle East, North Africa, and the Caucasus and Central Asia (MECA) can enhance governance and fight corruption to achieve their economic policy goals. It draws on advances that have already taken hold in the region

At the request of His Excellency the President of the Republic and Head of State, the Legal (LEG) and Fiscal Affairs (FAD) Departments of the IMF conducted an assessment of governance and corruption mission in Kinshasa, Democratic Republic of the Congo (DRC) from December 9 to 20, 2019 (the...

Despite having legal and institutional frameworks largely in place, Moldova continues to suffer from significant corruption and governance vulnerabilities. These are fairly pronounced in the areas of rule of law, anti-corruption, anti-money laundering and combatting the financing of terrorism...

Recent discussions of systemic corruption have cast doubt on the effectiveness of direct legal responses, that is to say, responses that involve the enforcement of explicit legal prohibitions on corrupt activity. This essay argues that there are sound reasons to believe that anticorruption law...

The general intuition is that corporate corruption, as a violation of legal and ethical principles, is contrary to corporate social responsibility (CSR), which signifies firms’ willingness to do the right things. However, we find evidence of the opposite in China—corruption positively...

A bulk of extant literature suggests that corruption impedes innovation. However, we document the opposite evidence in China—corruption in the form of greasing money enhances corporate innovation outcomes. Our identification strategy exploits China’s anti-corruption campaign as a shock to...

Corruption is an invisible disease of society, which has little impact on the socioeconomic and political life of any country and is a flaw that hinders the development of an entire country. This article reveals the current aspects of the fight against corruption in the construction and...