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New Institutional Economics Its Relevance to Curbing Corruption

Murali Patibandla
Journal Name
Economic and Political Weekly
Journal Publication
others
Publication Year
2013
Strategy
Publication Date
Vol. 48, No. 9, March 2013, P 55-63
Abstract

Corruption is a major political and economic issue in India. The stakes, value, frequency, and costs of corruption have become exceptionally high in modern India. This is partly because some of the tenets of the free-market mechanism are implemented without the necessary underlying institutional conditions for an efficient and fair functioning of the market mechanism. This paper brings forth the relevance of the insights of new institutional economics to the functioning of the Indian economy.

New Institutional Economics Its Relevance to Curbing Corruption

Author(s) Name: Murali Patibandla
Journal Name: Economic and Political Weekly
Volume: Vol. 48, No. 9, March 2013, P 55-63
Year of Publication: 2013
Abstract:

Corruption is a major political and economic issue in India. The stakes, value, frequency, and costs of corruption have become exceptionally high in modern India. This is partly because some of the tenets of the free-market mechanism are implemented without the necessary underlying institutional conditions for an efficient and fair functioning of the market mechanism. This paper brings forth the relevance of the insights of new institutional economics to the functioning of the Indian economy.