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• W2274975147 abstract "The e¤ect of various features of democracy on corruption is most often assumed rather than carefully modeled. In the context of an in…nitelyrepeated political corruption game, we show that electoral competition alone does not limit corruption because politicians can collude, share rents, and simply alternate in o¢ ce. Only in the presence of an outside monitoring agency will political competition work as a constraint on corruption. In this sense, there is no “invisible hand”of electoral competition that would act to reduce corruption; rather, it is an “iron …st”of monitoring institutions," @default.
• W2274975147 created "2016-06-24" @default.
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• W2274975147 creator A5088727158 @default.
• W2274975147 date "2006-01-01" @default.
• W2274975147 modified "2023-09-24" @default.
• W2274975147 title "Democracy and Corruption: Invisible Hand or Iron Fist?" @default.
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