'RATCH'eting Up the Anti-Corruption Drive: Could a Look at Recent History Cure a Case of Theory-Determinism?

Abstract

This paper discusses certain problems with the anti-corruption rhetoric emanating from international financial institutions such as the International Monetary Fund and the World Bank. These problems arise from the theoretical premises from which many of the individuals who staff these organizations seem to begin their inquiries into economic governance, as well as the deductive nature of their analytic approach, both of which contribute to a lack of interest in empirical historical research into the complex relationship between corruption, governance, and growth. A cure might be to begin with a more nuanced definition of corruption, then examine the actual interplay between corruption, governance and growth in actual economies that have developed very successfully, such as those of Northeast Asia in the 1960s and 1970s.

Keywords: International Monetary Fund, World Bank, Corruption, Northeast Asia, Anti-corruption