What is the relationship among property rights, corruption, and economic progress?
Property rights are the legal rights over the use to which a resource is put and over the use made of any income that may be derived from the resource. They way they relate with corruption comes in two forms: Private and Public action. Private action comes in the form of thievery or piracy, and public action comes in the form of legally; excessive taxation or illegally; bribery.
When these corruptions occur, it reduces foreign direct investment, the level of international trade, and the economic growth rate in a country. That's how economic progress relates.
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International Business
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