Scandal-rocked FIFA has sought to scrub up its image by bringing in ostensibly disinterested outsiders to fill oversight roles. Here, Steven A. Bank argues that internal whistleblowers are in fact better suited to improving the organizational culture that led to FIFA’s corruption.
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Google gives up Project Maven following “terrible” backlash; angry Facebook shareholders demand an end to Mark Zuckerberg’s “dictatorship”; American startups are in a 13-year slump; and Italy has a new government.
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Are anti-corruption reforms effective in reducing economic rent seeking and constraining the influence of special interests? New research from Tsinghua University PBC School of Finance finds that anti-corruption investigations in China are associated with credit reallocation from less productive state-owned enterprises (SOEs) to more productive non-SOEs. The series of investigations constitute staggered events to identify the causal impact of anti-corruption reforms on bank financing.
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George Mason University faces controversy over its relationship with donors; the former CEO of Volkswagen is charged in relation to the company’s diesel emissions cheating scandal; and are Google and Facebook already trying to undermine Europe’s new privacy rules?
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With a few cronyist tweaks, China’s communist leaders made capitalism safe for Party rule. But will cronyism become China’s next booming export?
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A new Stigler Center working paper examines a more roundabout way that companies can influence legislators: by donating money to charities in lawmakers’ districts. The authors find that the magnitude of these tax-exempt charitable flows dwarfs what firms spend in PACs.
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High-profile scandals like Odebrecht, The Panama Papers, and Swiss Leaks have brought down powerful politicians and businesspeople across Latin America. In Mexico, however, not a single person has been indicted, much less convicted, for wrongdoing in any of these cases.
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“Despite some specifics on the national level, I would say that all the populist regimes and leaders share common characteristics,” says José Ugaz, the chair of Transparency International and a leading anti-corruption crusader who helped bring down the Fujimori regime in Peru.
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How the science of cooperation and cultural evolution will give us new tools in combating corruption.
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The revolving door of government and business explained in the lab.
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In a special interview with ProMarket, former New York governor Eliot Spitzer talks about financial regulation, regulatory capture, and antitrust. Part 1 of 2.
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Neoclassical economic theory assumes that firms have no power to influence the rules of the game. A new paper by Luigi Zingales argues: This is true only in competitive product markets. When firms have market power, they will seek and obtain political influence and vice versa.
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