This paper presents two propositions about corruption. First, the structure of government institutions and the … political process are a very important determinant of the level of corruption. In particular, weak governments which do not … control their agencies would lead to ultra-high corruption levels. Second, the illegality of corruption and the need for …

Several authors suggest that trust is an important determinant of cooperation between strangers in a society, and …

. Using the examples of child labor, corruption, excessive' executive pay, corporate earnings manipulation, and commercial …

In this paper, we investigate a neglected aspect of financial systems of many countries around the world: government … around the world. Second, such ownership is particularly significant in countries with low levels of per capita income …

and creditors, are protected by law from expropriation by the managers and controlling shareholders of firms. We describe …

, and more broadly with the Demsetz's (1967) approach to property rights institutions. Indeed, we document world …