虽然这些观点在某种程度上听起来是合理的，但在某些环境下是不现实的，特别是在一些腐败和贿赂盛行的发展中国家。对于第一组研究人员来说，他们认为公司可以通过遵循市场规则来实现投资回报最大化，但他们的想法在一些充满腐败和贿赂的领域是不可行的。市场纪律不是万能的。市场失灵的概念是用来描述市场不能很好地发挥作用的情况。根据经济学理论，自由竞争将以垄断结束。市场这只看不见的手应该受到宏观经济管理这只看得见的手的限制。地方政府，实际上是地方官员，负责宏观经济管理。这意味着地方官员在一定程度上控制了资源配置的权力。当市场失灵时，可以说是地方官员掌握着企业的命运。例如，如果一家公司需要从当地银行贷款来拓展业务，就必须考虑相关官员的影响。在一些充满腐败和贿赂的国家，身居要职的官员可能会向公司索贿。在这种情况下，如果公司不行贿，就没有银行贷款来提高技术或管理水平。
加拿大经济学代写:发展中国家企业的腐败和贿赂
Although these arguments sound reasonable to some extent, they are not practical in certain environment, especially in some developing countries full of corruption and bribes. For the first group of researchers, who believe companies could maximize the return of investment by following market rules, their idea is infeasible in some areas full of corruption and bribes. market discipline is not omnipotent. The concept of market failure has been created to describe the situation that market cannot play its role well. According to economic theory, free competition will end with monopoly. The invisible hand of market should be restricted by the visible hand of macroeconomic management. The local government, in fact local officials, is in charge of the macroeconomic management. That means the local officials control the power of allocating resources to some extent. When market failure occurs, it could be said the local officials are in charge of the fate of companies. For example, if one company need bank loan from local bank to expand business, it has to consider the influence of related officials. In some countries full of corruption or bribe, the officials in key positions may request bribe of companies. In this situation, if the company does not offer bribe, it will have no bank loan to improve its technology or management.