> Bribery is not a huge obstacle to a determined entrepreneur. You just pay it like any other tax. But it's not just bribery. It's about being in or out of fav

> Bribery is not a huge obstacle to a determined entrepreneur. You just pay it like any other tax. But it's not just bribery. It's about being in or out of favour. It's about irrationality and lack of transparency. If you know that the current telecoms company has the brother-in-law of the president on the board, do you think that paying some bribes will be sufficient to allow you to enter the market? How about if you don't know whether that's the case, but you do know there's a reasonable chance that your startup business will be blocked for a "non business" reason like that? All of these factors act to reduce the likelihood of return on investment and increase risk. I imagine also that bribes also fluctuate a lot with regard to frequency and amount. That makes them hard to plan for.