Corruption, particularly political or “grand” corruption, distorts the entire decision-making process connected with … shows that higher corruption is associated with (i) higher public investment; (ii) lower government revenues; (iii) lower … corruption increases public investment while reducing its productivity. These are five channels through which corruption lowers …

between political fragmentation and public debt changes. Corruption magnifies the effects; with higher perceived corruption …

extent of state regulatory activities. Rising corruption also has a clearly positive impact on the growth of the shadow …

This paper examines the role of corruption in the design of monetary policies for developing countries in a framework …, is typically not credible in countries with serious corruption. Second, the optimal degree of conservatism for a Rogoff … (1985)-type central banker is an inverse function of the corruption level. Third, either an optimally designed inflation …

This paper develops and tests two efficiency wage models of corruption in the civil service. Under fair wage models …, civil service wages are an important determinant of corruption. Under shirking models, the level of wages is of secondary … importance, as potential bribes dwarf wage income. The empirical evidence points to a negative relationship between corruption …

This paper examines the reasons why corruption and policy distortions tend to exhibit a high degree of persistence in … eliminate corruption. The analysis predicts that in politically unstable regimes, the institutions necessary to monitor and … enforce compliance are weak. In such countries, corruption is more pervasive and the compliance with regulations is low. The …

Corruption is attracting a lot of attention around the world. The paper surveys and discusses issues related to the … causes, consequences, and scope of corruption and possible corrective actions. It emphasizes the costs of corruption in terms … of economic growth. It also emphasizes that the fight against corruption may not be cheap and cannot be independent from …