This paper examines corruption in the light of the new institutional economics. This reading is important with the renewed interest in the quality of institutions in the explanation of economic performance, especially after the decline of microeconomic analyses, notably in the framework of agency theory and rent-seeking theory. The latter have shown their limitations in the study of a phenomenon as complex as corruption. We first provide an analytical exercise of formal and informal institutions and their modes of interaction. In a second step, we will proceed to a reading of corruption from its relationship with institutions and then as a component of governance. In view of the results obtained, it seems that corruption is itself considere...