Journal of International Development
July 2014 Volume 26, Issue 5 Pages 567–747
http://onlinelibrary.wiley.com/doi/10.1002/jid.v26.4/issuetoc

CORRUPTION AND THE EFFICIENCY OF CAPITAL INVESTMENT IN DEVELOPING COUNTRIES (pages 567–597)
Conor M. O’Toole and Finn Tarp
Article first published online: 19 MAR 2014 | DOI: 10.1002/jid.2997
Abstract
This paper tests the effect of corruption on the efficiency of capital investment. Using firm-level data from the World Bank Enterprise Surveys, covering 90 developing and transition economies, we consider whether the cost of informal bribe payments distorts the efficient allocation of capital by reducing the marginal return per unit investment. Controlling for censoring and endogeneity, we find that bribery decreases investment efficiency. The negative effect is strongest for domestic small-sized and medium-sized enterprises. We conclude that reducing the level and incidence of bribery by public officials would facilitate a more efficient allocation of capital.

REVIEW ARTICLE: RESILIENCE, POVERTY AND DEVELOPMENT (pages 598–623)
Christophe Béné, Andrew Newsham, Mark Davies, Martina Ulrichs and Rachel Godfrey-Wood
Article first published online: 6 MAR 2014 | DOI: 10.1002/jid.2992
Abstract
Resilience has become prominent in academia where it is used as a central framework in disciplines such as ecology, climate change adaptation or urban planning. Policy makers and international development agencies also increasingly refer to it. The objective of this paper is to assess the advantages and limits of resilience in the context of development. Although the review highlights some positive elements—for example, the ability to foster an integrated approach—it also shows that resilience has important limitations. In particular, it is not a pro-poor concept, in the sense that it does not exclusively apply to, or benefit, the poor. As such, resilience building cannot replace poverty reduction.

Policy Arena: Rethinking Rural Co-operatives in Development
RETHINKING RURAL CO-OPERATIVES IN DEVELOPMENT: INTRODUCTION TO THE POLICY ARENA (pages 668–682)
Hazel Johnson and Linda Shaw
Article first published online: 1 JUL 2014 | DOI: 10.1002/jid.3004

THE CO-OPERATIVE AS INSTITUTION FOR HUMAN DEVELOPMENT: THE CASE STUDY OF COPPALJ, A PRIMARY CO-OPERATIVE IN BRAZIL (pages 683–700)
Sara Vicari
Article first published online: 1 JUL 2014 | DOI: 10.1002/jid.3003

GOOD CO-OPERATIVE GOVERNANCE: THE ELEPHANT IN THE ROOM WITH RURAL POVERTY REDUCTION (pages 701–712)
Rowshan Hannan
Article first published online: 1 JUL 2014 | DOI: 10.1002/jid.2989

COLLECTIVE LEARNING IN YOUTH-FOCUSED CO-OPERATIVES IN LESOTHO AND UGANDA (pages 713–730)
Sally Hartley
Article first published online: 1 JUL 2014 | DOI: 10.1002/jid.3000