Corruption is a multidimensional and complex problem in many countries, and a big barrier to successful development. Prof Avinash Dixit considered Hong Kong to be a rare example of success in the anti-corruption campaign. In his distinguished public lecture on 21 April, he showed how Hong Kong’s lessons could be supplemented by other business institutions. In particular, he proposed a system of norms with enforcement within the business community. He also demonstrated how such institutions could function and interact with the formal legal apparatus of the state, and how much success we could realistically expect in different countries.
Prof Dixit is John J F Sherrerd ’52 University Professor of Economics Emeritus at Princeton University. He is also a Distinguished Adjunct Professor of Economics at Lingnan University and a Senior Research Fellow at Nuffield College, Oxford.