Online from: 1989
Subject Area: Economics
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|Title:||Economic development: corruption, complexity, wealth, and a triad of strains|
|Author(s):||Bruce W. Finnie, (Pacific Lutheran University, Tacoma, Washington, USA), Linda K. Gibson, (Pacific Lutheran University, Tacoma, Washington, USA), David E. McNabb, (Pacific Lutheran University, Tacoma, Washington, USA)|
|Citation:||Bruce W. Finnie, Linda K. Gibson, David E. McNabb, (2006) "Economic development: corruption, complexity, wealth, and a triad of strains", Humanomics, Vol. 22 Iss: 4, pp.185 - 204|
|Keywords:||Corruption, Economic development, Freedom, Political risk, Responsibilities|
|DOI:||10.1108/08288660610710728 (Permanent URL)|
|Publisher:||Emerald Group Publishing Limited|
Purpose – This paper seeks to use a multi-disciplinary approach to analyze past and present economic and social explanations for development phenomena. A number of key factors may be missing from the current paradigm.
Design/methodology/approach – Comparative country surveys of corruption, ownership, freedom, and individualism are analyzed and discussed. Measurements on nine separate indices are evaluated for 97 nations. These interact to form a model labeled the
Findings – Three theses are suggested from the comparative analyses: without ownership there can be no responsibility, freedom and responsibility go hand-in-hand, and unwise use of political control severely undermines economic development.
Research limitations/implications – Limitations include unavailable data for key areas such as North Korea.
Practical implications – Implications are that development policies should promote meaningful private ownership and personal freedom.
Originality/value – This research explores how ownership and freedom critically impact prosperity and provides a more complete, multi-disciplinary framework for economic development.
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