Corruption, inflation and growth

We present a model in which the embezzlement of tax revenues by public officials leads the government to rely more on seigniorage to finance its expenditures. This raises inflation which depresses investment and growth via a cash-in-advance constraint.

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Year of publication:	2011
Authors:	Blackburn, Keith ; Powell, Jonathan
Published in:	Economics Letters. - Elsevier, ISSN 0165-1765. - Vol. 113.2011, 3, p. 225-227
Publisher:	Elsevier
Subject:	Corruption \| Inflation \| Seigniorage \| Growth

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Type of publication:	Article
Classification:	D73 - Bureaucracy; Administrative Processes in Public Organizations; Corruption ; E6 - Macroeconomic Policy Formation, Macroeconomic Aspects of Public Finance, Macroeconomic Policy, and General Outlook ; H6 - National Budget, Deficit, and Debt ; O42 - Monetary Growth Models
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010572238