Cracking down on corruption would reap big economic rewards for governments around the world, according to new analysis by the International Monetary Fund (IMF).
In a chapter published Thursday as part of the IMF's April 2019 Fiscal Monitor report, researchers found reducing corruption across all countries would increase total tax revenues by $1 trillion, or roughly 1.25 percent of global GDP (gross domestic product).
"The gains would be greater considering that lower corruption would raise economic growth, further boosting revenues," the report added.
Among advanced economies, countries with the lowest levels of corruption collected nearly 5 percent of GDP more in tax revenues on average than countries with the highest levels of corruption, the IMF found. For a country the size of the U.K., for example, that math could translate into hundreds of millions of dollars in additional government incomes per year.