Abstract
The article is addressed to develop the transaction cost economics of corruption including the analysis of the rational choice of the corruption contracting forms related to the critical dimensions of corruption transactions: asset specificity, uncertainty and frequency. Therefore the basic composition and features of the transaction costs of applying corruption as a governance structure are analyzed. One of the major results is the substantiation of the significance of "the fundamental deformation" phenomenon, a result of the investments into the corruption capital, for designing and implementing of anti-corruption policy.
Keywords
corruption, governance structure, transaction costs, fundamental deformation, differentiated approach to anti-corruption policy
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