Corrosive and Costly Corruption

By IMFblog

July 14, 2017 

Corruption can hurt growth and ruin people’s economic chances (photo: Eugene Keebler/iStock)

Corruption can lead to pervasive distrust in government, generating violence, civil strife, and conflict. And the results are devastating for people.

Another problem is that corruption is costly—particularly for those who are already worse off. IMF research shows that in countries with greater levels of corruption, infant mortality and dropout rates are especially high, partly due to less spending on health and education. Reduced investment in these areas tends to hurt poor people the most, and contributes to higher inequality. Continue reading “Corrosive and Costly Corruption” »

Seven Pillars of Prosperity—Diversifying Economic Growth in the Caucasus and Central Asia

Medium-term economic growth prospects in the Caucasus and Central Asia region are strong. But, to secure ongoing prosperity, the eight countries of the region—Armenia, Azerbaijan, Georgia, Kazakhstan, the Kyrgyz Republic, Tajikistan, Turkmenistan, and Uzbekistan—will need to look beyond traditional sources of growth. The challenge for policymakers will be to foster new and more diverse growth drivers, outside mining, oil, and gas. There are seven policy pillars that can help them do that, including strengthening economic and financial ties within the region.

By | May 5th, 2011|Economic outlook, Emerging Markets, International Monetary Fund|

Investing in a Rebalancing of Growth in Asia

Continuing my travels through Asia for the launch of our latest Regional Economic Outlook: Asia and Pacific, I am writing to you today from Singapore. Last week, I wrote about the near-term outlook for Asia. Today, I turn to the key medium-term challenge—an issue emphasized by G-20 ministers over the weekend—the need to rebalance economic growth. For much of Asia, this means shifting away from heavy reliance on exports by strengthening domestic sources of growth. While much of the discussion on this issue has focused on ways to increase consumption, the role of investment is equally important and should not be overlooked.

By | October 25th, 2010|Asia, Economic outlook, IMF, International Monetary Fund|
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