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The author reviews the overwhelming statistical evidence that countries with high levels of corruption experience poor economic performance. Corruption hinders economic development by reducing domestic investment, discouraging foreign direct...

Ribbon-cutting ceremonies marking the opening of investment projects, such as roads, dams, irrigation canals, power plants, ports, airports, schools, and hospital, are every politician's dream. The very act of cutting the ribbon seems to identify the...

The IMF has long provided advice and technical assistance that has helped to foster good governance, such as promoting public sector transparency and accountability. The Guidance Note reprinted in this pamphlet reflects the strong consensus among...