To clarify the causal links between financial activity and economic growth, three theoretical models are analyzed and a …-run levels but may reduce growth rates in the short run. Empirically, based on data for 93 countries during the 1980 90 period …, it is shown that during the 1980s finance was predominantly a supply-leading determinant of economic growth. Our analysis …

. It is shown that a credibly fixed exchange rate to a low inflation country, like a currency board, can reduce corruption … ; Seigniorage, Corruption ; Developing and Transition Countries …The paper analyzes the relation between institutional quality, such as corruption, in a country and its monetary regime …

. It is shown that a credibly fixed exchange rate to a low inflation country, like a currency board, can reduce corruption … countries with regard to the level of corruption. -- Exchange rate regime ; monetary policy ; fiscal policy ; seigniorage …The paper analyzes the relation between institutional quality, such as corruption, in a country and its monetary regime …

economy. Furthermore, the results show that the shadow economy reduces corruption in high income countries, but increases … corruption in low income countries. Finally, the various estimation methods are discussed and critically evaluated …

economy reduces corruption in high-income countries, but increases corruption in low income countries. Finally, the various …

economy reduces corruption in high income countries, but increases corruption in low income countries. Finally, the various …

regulations are the driving forces of the shadow economy. Furthermore, the results show that the shadow economy reduces corruption … in high income countries, but increases corruption in low income countries. Finally, the various estimation methods are …