corruption (such as a weak enforcement of the law) in order to alter future policy decisions in their favor. This result …This paper analyses why corruption can persist for long periods in a democracy and inquires whether this can result …, the paper analyzes how corruption distortsthe allocation of resources between public and private expenditure, altering the …

enforcement and corruption, they have an incentive to hide their activities in the underground economy. Empirical analysis … the formal economy. This paper analyzes the determinants of the underground economy, with particular emphasis on the role … of institutions and the rule of law. We find that when businesses are faced with onerous regulation, inconsistent …