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Russia's Corruption Generates Equivalent Of 50% GDP
- Ras_ 16y agoMore interesting details: http://www.itar-tass.com/eng/level2.html?NewsID=15369167&PageNum=0 http://www.itar-tass.com/eng/level2.html?NewsID=15369167&... "The corruption situation is so dramatic that the report authors singled out corruption-related losses of Russian economy. They estimated these losses at about 50% expenses of Russian businesspeople. Some 80% of current assets in the education system are shadowy, that is to say mainly related to the corruption, and this figure reaches 90% in state and municipal services."
- barmstrong 16y agoInteresting story - but did anyone else find this headline non-sensical? How can corruption generate a percent of GDP? I'm guessing they meant 50% of GDP is in black markets, or that 50% of business expenses go to bribing people.
- profquail 16y agoOne component of GDP is "personal consumption". In Russia, if a large number of people are consuming black market goods, then the "actual" GDP is going to be much higher than the government-reported GDP.
- profquail 16y agoRussia isn't the only country that has a large underground economy: http://en.wikipedia.org/wiki/Underground_economy#Comparison_with_regular_economy http://en.wikipedia.org/wiki/Underground_economy#Comparison_... (The figures are a bit dated, but still interesting.)
- deleted 16y ago[deleted]