This paper develops a panel unobserved components model of the monetary transmission mechanism in the world economy …

Anecdotal evidence relates corruption with high levels of military spending. This paper tests empirically whether such … the period 1985–98. The association between military spending and corruption is ascertained by using panel regression … techniques. The results suggest that corruption is indeed associated with higher military spending as a share of both GDP and …

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 …

The paper discusses some channels through which corruption affects growth such as the impact of corruption on … enterprises, on the allocation of talent, and on investment. It also discusses the impact of corruption on some aspects of public …

This paper examines interactions between self-interested agents in a two-tier government hierarchy, consisting of a …. Conditions under which lower-tier corruption arises as an equilibrium characterization of the game are identified. If … bureaucratic corruption sufficiently reduces the tax base, policies that deter corruption may be optimal. When monitoring is …

economic literature by assuming that (i) the relationship between the government and its population is regulated through an … corruption reflects a very stable equilibrium, which in turn reflects the fact that several constraints are simultaneously …

Central government wage expenditures accounted for 7 percent of GDP in 99 countries during 1980-90 (unweighted average … countries, and small low-income economies tend to have lower central government wage expenditures as a percent of GDP. Access to … foreign financing is not; the public and publicly guaranteed foreign financing is often provided for government capital …

requires both domestic and imported inputs. The model shows that trade distortions induced by such government policies as …