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Corruption is an almost universal and persistent feature of the modern state. Commentators primarily view corruption as a major obstacle to development, whereas dissenting voices claim that corruption has the power to facilitate trade that would otherwise not have taken place. Written by the editors, this research review provides an insightful discussion of the most significant works contributing to our understanding of this debate. Focusing on the key conceptual and theoretical issues, along with an examination of anti-corruption policies, this review is a valuable asset to scholars and academics alike.