Institutional corruption: few issues

Abstract

Institutional corruption is defined as an act by a public or a private agent that can be justifiable legally but still is corrupt. This arises out of missing institutions, laws and regulations. Furthermore, ability of powerful agents in influencing law making and implementing regulation can be a source of institutional corruption. This paper brings forth a few issues of institutional corruption and it presents qualitative empirics in the case of exploitation of non-renewable natural resources in the Indian context.