In this paper, we explore how competition among stock exchanges, operated as self-regulatory organizations (SROs … incomplete and investors do not have perfect information about the monitoring efficiency, competition among exchanges induces a …

Traditional bank competition policy seeks to balance efficiency with incentives to take risk. The main tools are rules … seek to affect the degree of competition by focusing on market structure (i.e. concentration) may have limited effect. We … argue that bank competition policy should be reoriented to deal with the too-big-to-fail (TBTF) problem. It should also …

This paper revisits the effects of corruption on the state's capacity to raise revenue, building on the existing …-2014, compiled by the IMF. It finds that-consistent with the existing literature-corruption is negatively associated with overall tax … revenue, and most of its components. This relationship is predominantly influenced by the way corruption interacts with tax …

factor in determining a country’s level of corruption. In a simple growth model, we illustrate the interrelationships between … natural resources, corruption, and economic growth, and discuss potential anti-corruption policies. We show that the extent of … corruption depends on natural resource abundance, government policies, and the concentration of bureaucratic power. Furthermore …

This paper examines the indirect role the IMF plays in combating corruption in the Baltic and CIS countries by … analysis draws on examples of actual experience with corruption and outlines some of the structural measures under IMF …-supported arrangements, which, if successfully implemented, can be expected to help gradually alleviate corruption. It also summarizes IMF …

Public procurement can be highly vulnerable to corruption. This paper outlines a methodology and results in assessing … corruption risks in public procurement and their impact on relative prices, using large databases on government contracts and … corruption risk factor (aggregated in a synthetic corruption risk index). While there are intrinsic limitations to our study …

the correlation of crypto-asset usage with indicators of corruption, capital controls, a history of high inflation, and … corruption and more intensive capital controls. Notwithstanding the data limitations, the results support the case for regulating …

Direct measurement of corruption is difficult due to its hidden nature, and measuring the perceptions of corruption via … countries by applying sentiment analysis to Financial Times articles over 2005–18. This sentiment-enhanced corruption perception … index (SECPI) captures not only the frequncy of corruption related articles, but also the articles’ sentiment towards …

We examine the extent to which regulations of entry and credit access are related to competition using data on 28 … competition, as proxied by the price-cost margin, in the industries with a naturally high entry rate. Rigid entry regulations are … exerting a positive effect on competition. These results suggest that incumbent firms are likely to enjoy the rent and market …