economy changes and the state withdraws from the capital formation process). As output loss reached the level of another Great … state - taken here as exogenous - on the production process. Consider therefore an economic system where the state is … system becomes internally unstable: even though economic growth takes place in the short run, in the long run the economy …

, invention of commodity exchanges using 'real' money, invention of 'fictitious' money, banking, state monpoly of exchange control …

remains a society rich in cultural, linguistic, religious, ethnic and political diversity. Today, the average Nigerian … about state capacity in Nigeria by taking stock of economic and governance issues. Using a simple growth model, we … illustrate the interrelationships between natural resources, corruption and economic growth in Nigeria. We proposed anti-corruption …

corruption on the one hand, and growth and investment on the other, and it highlights the costs to economies where the state is … firm’s sale and investment and the extent to which firms operate in the unofficial economy. Further, the paper provides …

grounds. The first is that they prevent corruption, the second is that they democratize the financing of campaigns by …

institutional framework. Theoretical analysis displays how in poorer countries corruption appears to be a permanent state … traditional anticorruption measures such as the increase in corruption costs or the organization of public education campaigns … would not permanently reduce corruption levels if poverty remains diffused. Using an overlapping generation model based on a …

corruption. It shows that an improvement in institutional quality reduces the shadow economy and affects the corruption market … - by means of Structural Equation Modelling that treats the shadow economy and the corruption market as latent variables …This paper analyzes a simple model that captures the relationship between institutional quality, the shadow economy and …

The causes and consequences of corruption have attracted much attention in recent years by both academics and policy … makers. Central in the discussion on the impact of corruption are perception-based indices. While informative, these indices … are ordinal in nature and hence provide no indication of how much economic loss is attributed to corruption. Arguably …

Corruption scandals seem to abound in countries that have recently undergone reform. Despite the proliferation of …—actually causes an increase in corruption. Theory provides no guidance as to the direction of causality—on the one hand, reforms make … politicians accountable to voters, as well as introduce more competition, which should decrease corruption. On the other hand, the …