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New report out on continued corruption in SE Asia. Since my two years in Kazakhstan I have wondered at the real harms of it. If it is expected as a normal cost of doing business, can not the market mechanism still work to bring efficient outcomes?

And there is good reason for an appreciation of coruption too. If you can afford it, corruption allows you great freedom. You can do just about anything. A greased wheel is as good a metaphor as any.

For years, corruption has greased the wheels of commerce and politics in Southeast Asia, a favored destination for investors in emerging markets.

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