Foellmi, Reto; Oechslin, Manuel - Institut für Volkswirtschaftslehre, …
We explore the impact of non-collusive corruption on factor rewards and on the wealth distribution. We show that the … distributional consequences depend crucially on the degree of capital market imperfections. With perfect capital markets, corruption … very limited. In the empirical section, we provide cross-country evidence showing that a high level of corruption and a …