Introduction

Introductory chapter tries to provide a brief outline of the book along with the relevance of the interconnectedness between institutional complexities-related transaction costs, trade, and development in a typical corruption ridden economy. It also explains why transaction costs of corruption, which in a sense may be used as a proxy for trading costs. In addition to this, I explain why using the standard HOSV, SFM, H-O nugget frameworks and effects of various reformatory policies should be looked at from a corrupt economy perspective. So, transaction costs of corruption, intermediation cost, and trading cost may be used interchangeably since the way I bring in all these issues here is essentially same.