Bir Kamusal Başarısızlık Ürünü Olarak Yolsuzluk ve Doğrudan Yabancı Sermaye Yatırımları Üzerindeki Etkileri
Yurdakul, Mehmet Onur
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Government intervention to economy is needed by society to cure market failures. However, in order for government to solve this problem, selfless politicians, bureaucrats and voters are required. Democracy does not always ensure the effectiveness of political decision making process. Thus, the government also fails. As an output of the government failure, corruption arises. Corruption has distortive effects on political decisions, public sector fiscal balance and market operations; damages allocative efficiency by increasing unfair competition and driving up costs, harms economic growth and has adverse effects on loyalty and confidence of citizens to public administration. An other significant consequence of corruption is its detrimental effect to investment environment and thus corruption diminishishes foreign direct investment (FDI) entries. However, regarding FDI – corruption relation, studies having reached conclusions in opposite directions exist.