Conventional wisdom suggests a negative relationship exists between corruption and economic activity. However, some studies* have shown that fraud could serve as a fount of innovation harnessed to more positive outcomes. Even if at the firm-level bribes sometimes present a more efficient alternative to introduce innovative products to markets, economy-wide data prove that a reduction of corruption and administrative barriers is crucial to enable the advantages of a competitive business environment and to unlock the innovative potential of entrepreneurship for more rapid and sustainable economic growth.
For a given level of corruption, one can predict fairly accurately the strength of a country's innovation climate because of the demonstrated relationship between corruption and entrepreneurial and innovative activity. No country with high levels of corruption has simultaneously achieved a score of more than 50 on the Entrepreneurship and Innovation indices scales (from 0 to 100). Individual deviations from the global trend, such as China or Russia which are ranked among the top 50 countries worldwide on the Global Innovation Index, are exceptions that only prove the rule. The development of innovation conditions in these countries has been very slow in part because government intervention that selects industry winners and corruptly awards contracts also reduces the incentive to innovate.
In the developed world, Italy and Greece exemplify how high rates of corruption slow economic activity. Both countries have among the highest corruption rates in Europe and belong to a cluster of inferior EU member states based on entrepreneurial conditions and innovative capabilities.**
Sources: Global Entrepreneurship Monitor - National Expert Survey Measures, 2014, Index of economic freedom, 2015, Global Entrepreneurship Index, 2015, Global Innovation Index, 2014
Every year Transparency International - the global coalition against corruption publishes Corruption Perception Index in countries around the world. Denmark and New Zealand top again with "very clean" scores over 90/100. The main reason of countries' success is strong inland corruption control. Let's remind some basic facts about the index: CPI is a business measure, addressed primarily to media and other expert people. Ordinary people are not really counted in, nor much affected by references. CPI pertains exclusively to public sector corruption, leaving aside whatever happens...
The Policy Potential Index (PPI) is a composite index, measuring the overall policy attractiveness of the 96 jurisdictions in the survey. The index is composed of survey responses to 15 policy factors that affect investment decisions. The PPI is normalized to a maximum score of 100. Finland had the highest PPI score of 95.5. Along with Finland, the top 10 ranked jurisdictions are Sweden, Alberta, New Brunswick, Wyoming, Ireland, Nevada, Yukon, Utah, and Norway. All were in the top 10 last year except for Utah and Norway. Yukon was the first Canadian territory to make the...
On 31 October 2003, the General Assembly adopted the United Nations Convention against Corruption and requested that the Secretary-General designate the United Nations Office on Drugs and Crime (UNODC) as secretariat for the Convention’s Conference of States Parties (resolution 58/4). The Assembly also designated 9 December as International Anti-Corruption Day, to raise awareness of corruption and of the role of the Convention in combating and preventing it. The Convention entered into force in December 2005. The United Nations Convention against Corruption is the only legally...
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