corruption. It shows that an improvement in institutional quality reduces the shadow economy and affects the corruption market …. The exact relationship between corruption and institutional quality is, however, ambiguous and depends on the relative … effectiveness of the institutional quality in the shadow and corruption markets. The predictions of the model are empirically tested …

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 on the one hand, and growth and investment on the other, and it highlights the costs to economies where the state is …

survey of enterprises carried out for the GCR, we find that firms from emerging economies single out corruption and excessive …

Traditionally, national governance and corruption challenges have been seen as: i) particularly daunting in the poorer … undue influence. We construct a new set of ethics indices, encompassing forms of (legal) corruption not subject to … measurement in conventional (illegal) corruption indicators. It is found that manifestations of legal corruption may be more …

results we obtain the existence as well as the decentralization of Pareto efficient allocations using the concept of valuation …