Essays in Political Economy
Edited by Susan Rose-Ackerman and Paul Lagunes
Chapter 14: Underground banking and corruption
This chapter explores some theoretical and empirical features of underground banking, with a special attention to corruption. After a discussion of the nature of Informal Value Transfer Systems (IVTSs)—which I use as a synonym for underground banking—and the key theoretical questions related to IVTSs, I turn to the connection between this phenomenon and corruption. By drawing upon two case-studies, I conclude that corruption is not a key ingredient of IVTSs. Rather, pervasive corruption can fuel the demand for informal banking.
You are not authenticated to view the full text of this chapter or article.
Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.
Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.
Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.