What is the relationship among property rights, corruption, and economic progress? how important are anticorruption efforts in the effort to improve a country's level of economic development?

Innovation and entrepreneurship are extensively recognized as significant to long run economic growth. Innovation and entrepreneurship show in environments that are free of corruption and where patented property is protected. Sustenance for companies and individuals is important to this process. Individuals or companies that must pay bribes to obtain licenses or face other kinds of corrupt behavior are less likely to carry out the activities essential for economic growth and progress. Similarly, companies and individuals are likely to shy away from environments where property rights are not well protected.